Randal Nardone of Fortress Credit Corporation

Randal Nardone is number 557 on the Forbes billionaire list

Randal Nardone is number 557 on the Forbes billionaire list

Randal Nardone is number 557 on the Forbes billionaire list. He is the principal and director of Fortress Credit Corporation; he also serves as the president and chairman of Springleaf Financial Holdings. Mr. Nardone holds a law degree and became interested in finance and how that was connected to the law shortly after he graduated from college, and today Fortress Financial is a highly respected investment company.

Fortress Financial was founded by three partners, Randall Nardone, Wes Edens, and Rob Kauffman. Kauffman has since retired, but the other two remain on as principles of the company. The trio set out to start a company that invested in alternative assets. They started off by raising $400 million in capital, which they grew to around $3.9 billion in just five short years. That is almost a 1000% return. These types of returns are rare on Wall Street, and from there the company made a name for itself in the investing world.

Nardone played a large part in the company’s success. He was a key player in choosing alternative assets for investors and helped to build the robust portfolio that they have today. A couple of more massive alternative purchases that they made was the acquisition of RailAmerica, Intrawest, Penn National Gaming, and Florida east Coat Industries. One of the essential factors of Randall Nardone’s investment strategies is that he focuses on obtaining high value assets in multiple industries.

In addition to the hedge fund on its own. Randall Nardone, with the help of his counterparts, decided to raise money by bringing the hedge fund public. They were one of the first hedge funds on Wall Street to launch an IPO. After the IPO the company grew so large that they split the fund up into many industry-specific funds that investors could invest in wholly or partially in each.

Randall Nardone, along with the partners that he chose did very well to get into this side of the investment industry while it was still reasonably young. Mr. Nardone also holds leadership roles in Fortress’s subsidiary companies including Eurocastle Investment and FIG LLC. Meet Fortress Investment Group’s Ex-Billionaire Interim CEO