Moving from a privately owned organization to publicly owned and then to a privately owned entity is not a simple undertaking to any organization. The move becomes even worse when the organization experiencing such changes is a financial entity. Most of the financial entities have tried to incorporate this type of strategy and a significant number of them have failed. However, Randal Nardone has been able to orchestrate some of the most daring undertaking in the life of Fortress Investment Group.
Randal Nardone started Fortress Investment Group almost three decades ago after working in other financial organizations in the United State. His main intention was to start an organization that was geared towards offering quality services to the members of the public, something that was not being done by other entities operating in the financial industry. This means that he had the necessary knowledge, skills, and training about operating in the financial sector.
However, Randal Nardone had to convert the privately owned company to a public company by registering the hedge fund in the New York Stock Exchange. The move to register the company in the stock exchange was informed by the fact that the company did not have the necessary resources to operate in the complex financial industry. The problem is that there was no other asset management company had tried to undertake such a move.
Randal Nardone was able to register the company in the NYSE and sell the units of ownership to the interested investors, who proved to be many than what market and expert financial analyst had predicted. The money acquired through the sale of the shares has enabled Fortress Investment Group to establish itself as one of the leading alternative asset manager in the industry for almost three decades.
Recently, Randal Nardone had to convert his publicly owned entity to a private organization under a new ownership. The new owner, Softbank, which is a Japanese investment company had decided to pay all the shares of the company for around $3.3 billion dollars. The change in the ownership of the company has not surprised many individuals but it is its ability to change and remain competitive.
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