Randal Nardone Continues to Serve as One of Fortress’ Pillars

The Fortress Investment Group was established by Randal Nardone, Wes Edens, and Rob Kauffman. The company has stakes in real estate investments, debt securities, and hedge fund, which were handled by Michael Novogratz and Peter Briger.Fortress Investment Group grew and expanded literally and from 1999 until 2006 it had a net equity of around 39.7 percent. Fortress was listed with the New York Stock Exchange on the 9th of February 2007 together with Goldman Sachs, and the Lehman Brothers certifying the very first initial public offering (IPO) of the firm, which resulted in its prominence in the private equity industry in the United States.Fortress is an international investment company that manages the assets of other entities, firms, organizations, and corporation worldwide. Since its operation covers the United States and abroad the assets it takes care of are quite diverse in nature, and as of the 31st of December 2017, it has an asset portfolio of approximately $43.6 billion. The assets it handles are for over 1,750 clienteles from the international and private sectors of across different industries.

The core of Fortress lies in its exemplary accomplishment when it comes to investing, since it uncovers all possible aspects to be able to generate a longstanding cushion against possible risks so each investor is provided with a regulated profit. From December 31, 2017 the firm has 953 employees and 216 investment specialists who supervise the assets in offshore service offices including the main office of the firm which is situated in New York City. As of February 14, 2017, Masayoshi Son of the SoftBank Group Corporation officially consented to purchase the Fortress Investment Group LLC in the amount of $3.3 billion (US). The transaction of the said acquisition was finalized on December 31, 2017.The acquisition of Fortress has been concluded as per SoftBank Group Corporation, and all the outstanding stock shares of Fortress will now be the possession of SoftBank and its holding companies. The finished transaction has conformed to all the unresolved interests of both parties including the approval of Fortress’ shareholders, which was made on July 12, 2017 along with the necessary receipts for regulatory approval.

The acquisition likewise resulted to the modification of the Fortress Class A shares, where each share has been allotted the right to receive in cash $8.08 per share. The proceeds will be disbursed based on the procedures outlined in Fortress Investment Group’s Definite Proxy dated on the 7th of June 2017 including the Merger Agreement that was incorporated therein.The trading of the common stock of Fortress has stopped and will be taken out of the New York Stock Exchange’s registered list. Also, the financial statements of Fortress will be integrated and shown in the financial statements of the SoftBank Group.Fortress will operate independently under SoftBank’s management. Randal Nardone, Peter Briger, and Wes Edens will continue to oversee the operations of Fortress.Randal Nardone took his Bachelor of Arts Degree at the University of Connecticut. He earned his Jurisprudence Degree at Boston University, and he is Fortress Investment Group’s Principal, Chief Executive Officer, and Co-Founder. Randal Nardone was ranked 557 on the billionaire’s list.