Great News For Investors, Randal Nardone, Co-founder of Fortress Investment Group, Strikes a Deal With Softbank

Randal Nardone co-founded Fortress Investment Group in 1998 and has served as the company’s Chief Executive Officer since August of 2013. Graduating with a Bachelors of Arts in English and Biology from the University of Connecticut, Randal possesses a wide range of skills and talent, especially in the finance industry. Prior to co-founding Fortress Investment Group, Mr. Nardone held a position as managing director of UBS, an investment banking company, from 1997 to 1998. Recently, Randal Nardone has secured a deal with Softbank, a Japanese technology company, to buy Fortress Investment Group for 3.3 billion dollars. This announcement comes as great news for Fortress Class A stockholders.

Due to Softbank’s acquisition of the company, Fortresses Class A stockholders saw a 39% increase in the price of the company’s stock. Softbank’s CEO, Masayoshi Son, has long-term plans for Fortress Investment Group, envisioning using the newly acquired asset management company for funding technological development. Mr. Son plans to create a giant investment fund of over 100 billion dollars to help spearhead his company and its investors to the forefront of the latest advances in emerging technologies, such as smart appliance and artificial intelligence. The purchase of Fortress is set to make Softbank one of the largest alternative asset management companies in the world, managing roughly 70 billion in private equity, credit, and real estate. Fortress plans on continuing to operate independently within the Softbank network.

Randal Nardone believes this merger is a win-win for both Fortress Investment Group and Softbank. According to a recent statement from Mr. Son, Softbank believes it has the capability of doubling Fortress’s assets in the next few years. Furthermore, Masayoshi plans to sell a small slice of Fortress’s operating unit, commonly known as the general partner, to other companies in Softbank’s global network of asset management companies.

It seems like Fortress Investment Group is on the path to success as it continues to position itself with larger foreign companies like Softbank to fund emerging innovative technologies. Randal Nardone stands at the forefront of this new deal with Softbank and hopes to increase the firm’s holdings in the coming years.

Forbes: https://www.forbes.com/lists/2007/10/07billionaires_Randal-Nardone_ZZ5A.html

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