How Randal Nardone Truly Feels about the Purchase of Fortress Investment Group

Since the inception of Fortress Investment Group, Randal Nardone has always become a part of the mentioned firm. In fact, he was one of the founders way back in 1998. He was a member of the Board of Directors of the company from November 2006 and worked as the Chief Executive Officer (CEO), Director, and Principal of the firm. He has also established other divisions of the company, including Fortress Investment Fund IV and Fortress Investment Fund V. His deep connection with the firm makes some people wonder how he feels about the sale of the Fortress Investment Group. Quite recently, the purchase was made by Softbank Group, a Japanese company. Randal Nardone has expressed his delight concerning the sale.

According to him, he believes that it was the correct step the company had to take especially after the slowing down of private equity investments. The purchase will result in an exposure to a new environment, which has plenty of benefits not only for the company but also the investors, clients, and the staff. One of the most significant advantages is that the purchase will enable investments that will bring profits and massive returns. Randal Nardone has noted that the sale of the Fortress private equity business was a precautionary measure. During that time, there were several things on the market that were up for sale, but there were only a few that were worth buying. The deal gave Randal Nardone and the other leaders of the company a $3.3 billion deal as a result of the Softbank purchase.

It was indeed a grand plan that will provide fresh strategies for the business and will provide numerous benefits to the clients, particularly the investors. Softbank chose to purchase Fortress Investment Group because of its excellent track record. The Japanese company aims to maintain the history and the profile of the company. Accomplishing the goal is much easier because Softbank will retain the leadership of the firm. Therefore, the frontrunners and the heads of the company will stay the same to make sure it will continue to spread its expertise around the world. Randal Nardone has observed that it is great to be optimistic in the industry he belongs to, especially now even though it is a tough time. Softbank has agreed to pay more than $8 per share, which was initially less than $6 during its first offer. Fortress was valued at $4 per share, which means that the company and its leaders received double the value.

Wes Edens: Investor, Entrepeneur and Financial Extrordinare!

Wes Edens is the Principal, Founder, and Co-Chairman of the board of directors of Fortress Investment Group LLC. Founded in 1988, Fortress is a 62 million dollar alternative asset management company with headquarters in New York and offices internationally. Wes Edens holds the responsibility of Fortress’s private equity business, a company that loves to invest in infrastructure, transportation, real estate, health care, financial services and media. Wes Edens also owns the NBA’s Milwaukee Bucks which are now worth more than a billion as of 2018.To top it all of, according to Biz Journal, his take home is pay is currently at a whopping 54 million dollars.

Before he founded Fortress investment, Wes Edens studied Finance from Oregon State University and earned himself a Bachelor of Science degree. After his studies, Edens went on to be the management director of BlackRock Financial Management Inc., where he lead the BlackRock Asset Investors. He was also at some point was a partner and management director at Lehman Brothers, a global financial service firm that filed for bankruptcy in 2008. Today, Edens is proud to say that his firm that he started with 400 million dollars and 30 employees now manages 72 billion dollars worth of assets and 1200 employees. Fortress Investment has also been a very good place work according to the many positive reviews on Bloomberg.com.

With 26 reviews, Fortress Investment holds a strong four star rating, with 9 people rating it 5 stars, 11 rating it 4 stars, 4 people rating it 3 stars, no one rating it 2 stars and only a measly 2 people rating it a single star. By category that is 3.2 in work/life balance, 4.2 in compensation/benefits, 3.5 in job security/advancement, 3.8 in management, and a 3.6 in culture. Maybe I should work there. Not only does it appear great to employees, it is an exceptional place for interns to learn. Indeed.com also had a lot to say about intern life at Financial Investment. Distressed Debt Intern from Indeed.com stated “Interns are expected to learn quickly, but learn from an elite group of investment professionals. If you are motivated and quick you will be given responsibilities.” This would indicate that while Interns there will certainly be challenged, if they can succeed they will learn a lot. An honor it must truly be to be an intern there. Long live wes Eden.