Fortress Investment Groups founder Randal Nardone has over 30 years of experience in the financial service sector. With the recent purchase of Fortress investment Group by the tech giant Softbank many investors have been left wondering what the next step is for Fortress Investments. In a recent article, Randal Nardone explains what investors can expect next. Check out discoverorg.com about Randal Nardone
Fortress Investment Maintains Day To Day Control
According to recent news, United States security regulators required Japan-based tech giant Softbank to relinquish day to day control of the investment group Fortress before they would be willing to approve the 3.3 billion dollar acquisition. For investors who may be worried about the future of Fortress after the acquisition, Mr. Nardone has made it very clear that Fortress will still be acting independently in its day to day operations. The acquisition basically means that Fortress Investment can no longer act as a publicly traded company. Despite this fact, it will gain access to a large number of limited partners throughout Asia. Due to SoftBank’s involvement with the Committee on Foreign Investment in the United States, they have limited say in how Fortress manages its 38 billion in assets.
The inter-government agency Cfius is responsible for vetting whether deals can comprise US national security. Due to this fact, it has the authority to require companies to take extra steps to finalize a business deal, even blocking the deal outright. The agreement with Cfius means SoftBank will have economic ownership of
Fortress but not very much else.
Randal Nardone is looking forward to continuing to lead Fortress Investment Group through this new merger and will grow the company’s holdings throughout the United States and Asia. Randal Nardone has been a member of the company’s Board of Directors for twelve years, operating as a member of the Management Committee since co-founding the company in 1998. In 2013, Mr. Nardone served as the Chief Executive Office after working as the company’s Intern Chief Executive since 2011. Prior to his time at Fortress, Nardone served on the board of directors of Alea Group Holdings from July of 2007 to September of 2014. Visit: https://www.bu.edu/law/2018/05/17/randal-nardone-80-featured-in-new-york-patch/