Randal Nardone

Fortress Investment Holdings LLC

Randal Nardone

Assets Under Management: $41.4 B
Net Worth: $1.8 B
Age: 62
Location: New York, NY
Education: University of Connecticut (B.A. in English and Biology)
Boston University School of Law


Randal Nardone: This Businessman is a Busy Man

Ascendance to the status of “financial whale” typically involves not only a great deal of effort and persistence, but a whole lot of time.  And if staying busy is a hallmark of success among financiers, Randal Nardone would undoubtedly qualify as one of the most successful.

After earning a B.A. in English and Biology from the University of Connecticut and a J.D. from the Boston University School of Law, Randal Nardone worked as a partner and a member of the executive committee at the law firm of Thacher Proffitt & Wood.  After that, Mr. Nardone was a principal of BlackRock Financial Management, Inc., and then he worked as a managing director at UBS from May 1997 to May 1998.

After his stint at UBS, Randal Nardone co-founded investment management firm Fortress Investment Group LLC in 1998 with Wesley R. Edens and Rob Kauffman.  Within the firm, Mr. Nardone is a principal and has been a member of the Board of Directors at Fortress since November 2006. Having been a member of the Management Committee of Fortress since 1998, Randal has also served as interim Chief Executive Officer from December 2011 to July 2013 and was appointed as the Chief Executive Officer in August of 2013.

A highly regarded firm in the financial community, Fortress Investment Group has approximately $41.4 billion in assets under management representing more than 1,750 institutional clients and private investors worldwide.  Headquartered in New York and encompassing multiple affiliate offices around the globe, Fortress oversees 915 asset management employees, including 205 investment professionals.

Mr. Nardone has also expanded into other ventures, including previous posts as the Director of Brookdale Senior Living Inc.; CEO, Portfolio Manager, and Secretary of RIC Coinvestment Fund LP; and Secretary of Newcastle Investment Corp. (now known as Drive Shack, Inc.)  Nowadays, in addition to his roles at Fortress Investment Group, Randal Nardone is currently the Principal of Fortress Credit Corporation as well as the President and Chairman of Springleaf Financial Holdings, LLC.

And, if you can believe it, there’s more: Since 2004, Randal Nardone has also served as Director at Aircastle Limited, New Media Investment Group, SeaCube Container Leasing Ltd., doBank S.p.A., Mapeley Limited, Brookdale Senior Living Inc., and Gagfah S.A.

So there you have it: Mr. Randal Nardone is a very, very busy man.  If time is his opportunity cost, however, then this sacrifice has paid off in terms of financial wealth and stature.  At age 51, Randal attained spot number 557 on Forbesbillionaires list; his net worth at that time was $1.8 billion.

With his help, Fortress Investment Group has become one of the world’s leaders in asset-based investments and portfolio management.  Even beyond that, though, Randal Nardone has shown us how time and tenacity can translate into a life that is, at least financially, quite generous.


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