The fortress investment group was founded in 1998 by Randal Nardone and Wes Edens among others. The company was created with the aim of offering alternative investment advice to clients, and their focus was on private equity investments. For the past two decades, the company has been growing and expanding their territory. Currently, they have more than 43 billion dollars in assets under their management. Randal Nardone has also managed to amass quite some wealth of his own. He is ranked as number 557 on the Forbes list of the wealthiest billionaires. He has a net worth of $1.8 billion. Here, is what Randal thinks about investing, and the value of diversifying one’s investment portfolio.
Randal Nardone started his journey as an entrepreneur in the University of Connecticut where he attained his BA. He worked for some financial institutions and private equity investment firms for some years before he got together with the co-founders at Fortress Group, and the idea of creating the group was born. Currently, the company has more than 2,000 institutions as part of their clients, and they have invested in different sectors. The sectors which are part of their investments include real estate, credit, private equity, and strategy. The company has expanded tremendously and currently; they have more than 1000 dedicated employees under their payroll.
The company offers services which start with appraisal, purchase, and management of vital investment assets for their clientele. They advise their clients and guide them towards the investments which have the potential to help them achieve long-term cash flow. The company has always used strategy in their investments. They take time and immerse themselves in the businesses and the industries where their clients also want to invest.
The biggest dream for Randal Nardone is to make the Fortress Investment Group the company of choice for people whose primary interest lies in private equities. The company is currently generating revenue to the tune of 500 billion dollars, and he believes that if the strategic growth plans they have made for the next ten and twenty year periods go as planned, the company will achieve even greater success. Read more on patch.com