How Fortress Investment Group Became An Empire

Fortress Investment Group was established by three business moguls in 1998, which means the company has been around for two decades. It was actually founded by Randal Nardone, Wes Edens, and Rob Kauffman. Although Fortress Investment Group has several branch offices, it is headquartered in New York, New York.The payroll of Fortress Investment Group hit 2,500 in 2016 and the figure kept increasing until it was acquired by SoftBank. Some of the subsidiaries of Fortress Group are New Media Investment Group, New Senior Investment Group, New Residential Investment Corp, and Newcastle Investment Corp. When valued in 2016, it was discovered that the company had earned a total of US$1.1 billion and it was also discovered that it had made a total profit of US$180 million. The credit arm of the business was launched in 2002 by Pete Briger and the venture witnessed a steady growth. Currently, the credit team can boast of more than 500 professionals. The credit arm invests globally in distressed and illiquid credit investments.

It also invests in undervalued assets. Over the years, the investment team which was led by Pete Briger and Dean Dakolias has invested profitably in some projects like the Asian Financial Crisis, the RTC workout, and a host of others. In fact, Fortress Investment Group has built an enviable track record on this.Currently, the team has more than 100 professionals managing different assets in over 14 geographical locations and the number can still increase. The idea behind this arm of the business is being able to see hidden value in some distressed or undervalued assets. Like they say, a genius sees a business opportunity long before it becomes obvious to everyone.  In a nutshell, the Fortress credit team does not only specialize in seeing hidden values in undervalued assets, it also has experience, expertise, knowledge, material, and human resources to manage and service different assets scattered in different geographical locations.According to Pete Briger, one of the distinctive features of Fortress Group is their affinity for buying bad debts, buying bonds, attacking credit market with so much veracity, and venturing into illiquid situations big time.

They often buy distressed competitors too. The five competencies of the company are asset-based, industry knowledge, operations management, corporate mergers and acquisitions, and capital markets. These five competencies have helped to grow the company from a small firm that was established in 1998 to a global empire.Apart from acquiring assets, the company is also good in financing and overseeing the management of all the assets. They are also great in pricing. Remember that when an asset is over-priced, it will scare buyers and renters off and if it is underpriced, the company will be losing money. So, fixing the right price for assets requires certain skills and Fortress Group has the skills.Fortress Group has in-depth knowledge in all the industries where it invests. This is why the company always sees opportunities in some businesses before the opportunities become obvious. During the interview of a few employees of the company, they all said one thing – The management of the company believes in regular training, so they spare no expense in training the employees regularly.

Source of the article : https://www.payscale.com/research/US/Employer=Fortress_Investment_Group_LLC/Salary

Fortress Investment’s Randal Nardone: An Experienced, Highly-Successful Financial Services Professional

New York based Fortress Investment Group’s co-founder and chief executive officer Randal Nardone has decades of experience working in the financial services industry. The University of Connecticut graduate has degrees English and Biology and also earned his juris doctor from the School of Law at Boston University. Since then he had gone on to become a Thacher Proffitt & Wood partner before joining Blackrock Financial Management where he was a principal. Nardone was also a UBS managing director for a year before he left to start Fortress Investment Group with Wesley Edens and Robert Kauffman in 1998. In addition to his seminal role at Fortress Investment Group, Randal Nardone is also a Fortress Credit Corporation principal, Springleaf Financial Holdings president and chairman as well as Newcastle Investment Holdings vice president and secretary. Nardone is also co-founder, principal, COO and CEO of Fortress Investment Fund IV and Fortress Investment Fund V. He’s also president of Ncs 1 LLC and co-founder, principal, COO and CEO of Fortress Registered Investment Trust.

Randal Nardone has vast leadership experience and has been director and held executive positions in a wide range of companies. Some of the companies in which Randal Nardone has held leadership position since starting Fortress Investment Group include Florida East Coast Holdings Corporation, Alea Group Holdings Bermuda Ltd., Eurocastle Investment Limited, Springleaf Finance as well as OneMain Holdings, Inc. Nardone has also served as director of Mapeley Limited, Fortress Transportation and Infrastructure Investors LLC, New Media Investment Group, Brookdale Senior Living Incorporated, GAGFAH S.A., doBank S.p.A., Aircastle Limited, IMPAC Commercial Holdings, RIC Coinvestment Fund LP and SeaCube Container Leasing Ltd. Nardone has played an important role in the growth and success of those companies and many others.A husband and father of one, Randal Nardone is a self-made billionaire who generated his wealth through his work in finance.

As of 2007, Forbes estimated his net worth to be $1.8 billion and he was listed as number 557 on their billionaires list. Much of his wealth comes from the 53 million shares of Fortress Investment Group stock Nardone owns. Those shares have an estimated value of $1.6 billion. Over the past 22 years, Randal Nardone has been involved with more than 46 companies in a wide range of industries. His extensive experience and vast expertise in finance, management, credit and private equity makes him a valuable addition to any organization.Randal Nardone has played a major role in the growth of Fortress Investment Group. With Nardone serving as co-CEO, the company has become a highly diversified alternate investment manager with almost 2,000 private investors and institutional clients around the world and in excess of $43 billion in assets under management. Randal Nardone has helped Fortress Investment Group become a world leader. The Japan-based company Softbank Group Corporation was so impressed with the work of Nardone and his team with private equity as well as permanent capital investment strategies, that when they purchased the alternative-asset manager they retained Randal Nardone and the executive staff.