When Fortress Investment Group first considered a major deal that would have a massive impact on their firm, executives like Randall Nardone believed that it would take some time to come together.What Randall Nardone could never have expected was the speed at which SoftBank would move. Masayoshi Son is the owner of this firm and he has rapidly ascended the billionaire ranks by moving quickly and striking while the iron is hot.Son had big plans for the firm and they would need to act quickly. In his mind, Fortress Investment Group has the potential to become a global leader in a number of respects. If Son’s plans come to fruition, Fortress will have the ability to maximize profits in a wide range of sectors. Son is looking to extend Fortress’ reach into the worlds of communications, technology and finance. His level of confidence is what allowed him to justify the $3.3 billion price tag for this purchase.
The bet that is being made here is an interesting one. Son is of the belief that Fortress’ current assets can be used to further his own goals. Fortress has amassed a collection of various subsidiaries that are thought to be useful and these private equity businesses will be used to build SoftBank’s United States support services. Fortress already stands to benefit from this purchase in a variety of ways. They are now able to avoid the sort of scrutiny that takes place in the public marketplace. While the company typically provides assistance when it comes to credit funds, they also serve as a manager for a wide range of private equity pools. This is where Randall Nardone’s expertise comes in handy.Those who are wondering whether SoftBank’s purchase will affect his status at the firm should fear not.
Randall Nardone has already come forward and stated that this purchase is not going to affect the role that he plays. He plans to remain at the firm and the other co-chairmen at Fortress Investment Group have echoed his sentiment. SoftBank has wasted no time establishing a closer relationship with Donald Trump and after a recent meeting at Trump Tower, Son stated that the partnership with Fortress Investment Group would lead to further investments in the nation’s infrastructure. In order to make this vision a reality, Son is going to put up $50 billion and these funds are expected to lead to the creation of tens of thousands of American jobs.
Source of the article : http://www.4-traders.com/business-leaders/Randal-Alan-Nardone-0031P8-E/biography/