Each of the principals of the Fortress Investment Group brought a special set of skills to the table. That is why Fortress was so successful. What were Randal Nardone’s specialties?
Lawyer by Trade
No football team can win with just one player. It takes a combination of skills for a football team to be successful on the gridiron. The same can be said for Randal Nardone’s Fortress Investment Group.When Randal Nardone co-founded the Fortress Investment Group, he brought authority, command and experience to the table. He was a lawyer by trade. This allowed him to understand the legal side of business.Lawyers tend to understand the political vantage point of any deal. Mr. Nardone could view investments in terms of their political importance to local communities, America and the world. This can be seen in some of the Fortress purchases – casinos, railways and resorts.
After mastering his legal skills, Randal Nardone added finance to his credentials. He worked with the global powerhouse, Swiss based UBS. Some still see the Swiss banking system as the standard, having been in the business for almost a millennia.Mr. Nardone learned how to properly value and purchase assets. This UBS position could have taught Randal Nardone the value of good financial customer service.He also gained an international perspective with respect to finance. The Swiss have many international clients. Randal Nardone learned to think on a global scale, after working at UBS.
Black Rock Financial Employee
Finally, Randal Nardone gained a more American vantage point on finance from Black Rock Financial. While Black Rock is not at the level of JP Morgan, Black Rock Financial has carved out a very important niche. Randal Nardone learned what influential institutional investors expected from the Fortress Investment Group while at Black Rock. The Fortress could offer some essential financial services, not offered by Black Rock Financial. For certain deals, Fortress and Black Rock could combine forces to make them work. Bankers have created valuable networks to ensure the capital continues to flow.Legal and financial expertise are the primary skills that Randal Nardone had brought to the Fortress Investment Group. He has helped the bankers understand the political vantage points for many of their more complicated deals. These unique skills are the reason why Randal Nardone was able to co-found such a powerful hedge fund as the Fortress Investment Group.