Randal Nardone serves as one of the chief executive officer and principals of Fortress Investment Group. He also co founded the firm in 1998 with another longtime finance professional Wesley Edens. Over a span of nearly three decades, Randal Nardone has spent many years as a lawyer as well as a top executive in the finance industry. During his career, Randal has held many positions such as chief executive officer, principal, and managing director. He has also served on management committees for both legal and financial firms as well. After completing college and law school, Randal Nardone began his professional career as an attorney. He spent several years at a firm called Thatcher, Proffitt & Wood.
While working at this law firm, Nardone was an associate. He would later become a member of the firm’s executive committee before moving on to pursue other opportunities in finance. In the 1990’s Randal Nardone started working in the financial sector for a successful firm called BlackRock Financial Management. At this firm he would hold a significant position in top management. He was the firm’s principal for a few years. As the principal of the firm, Randal was responsible for overseeing the firm’s operations as well as managing the employees. Nardone also helped acquire clients for the firm. His next opportunity in the financial sector came in 1997 when he joined UBS.
As a member of UBS, Randal Nardone was part of one of the most reputable firms in the entire world. Nardone served as the managing director. At this position, he provided the overall management of the firm as well as getting more clients. After working at UBS for one year, Nardone decided to pursue entrepreneurship. He went on to help start up a new financial services firm called Fortress Investment Group. While starting up the firm, Nardone helped come up with the idea of forming an alternative asset management firm. Within a few years of being in business, Fortress Investment Group went on to expand and establish itself as a highly reputable financial services firm. Since co founding Fortress Investment Group, Randal has served as a member of the firm’s management committee.
Since today’s economy involves many aspects that are changing, more and more people have opinions as to how these various factors will impact the national and international economy not only today, but in the years ahead as well. While in years past the opinions of people were limited to writing articles for newspapers and perhaps doing a TV interview, the internet and social media have changed all that. An example of this change was evident recently, when noted businessman Shervin Pishevar used his Twitter account to conduct a 21-hour tweet storm on Bitcoin, banks, and much more.
In giving his predictions about the future of virtual currencies, Shervin Pishevar focused almost exclusively on Bitcoin. While growing in popularity, he predicted the currency would go through a period of losing nearly $5,000 of its current value. While this sounds like Shervin Pishevar was predicting the demise of Bitcoin, he did anything but that. Instead, he predicted that although the income loss would be large, the virtual currency would rebound to even higher values in the coming months, allowing investors to reap many rewards.
After giving virtual currency investors reason to smile, Shervin Pishevar did not do the same for stock market investors. Predicting bond market volatility would lead to a drop in stock market values of nearly 7,000 points, he predicted the only way for stock investors to guard against massive portfolio losses would be to invest in gold, which he noted always maintains or increases its value, even in the most dire economic conditions.
Ironically, while using state-of-the-art technology to conduct his tweet storm, Shervin Pishevar made many dire predictions about the technology industry in the United States, specifically companies in Silicon Valley. Predicting foreign competition would overtake Silicon Valley, he stated many U.S. companies have become lax in numerous areas, including development of new technology and staffing their companies with top talent in the IT industry. Unlike virtual currencies where he predicted a rapid rebound, Shervin Pishevar instead predicted it would take many years and perhaps decades before Silicon Valley once again reigned supreme in the international IT industry.
Different instances render people helpless such as the occurrence of a weather calamity. For example, some of the Houston neighborhoods were ripped apart by Hurricane Harvey. The survivors were helpless since they needed food, shelter, clothing, and other necessities. Since philanthropy is not limited to wealthy individuals, companies such as Stream Energy were happy to assist.
Corporate philanthropy is whereby a company engages in charitable acts that are meant to improve the lives of different individuals. Stream Energy deals with the direct sale of energy. They have launched “Stream Cares,” a branch in the firm that will solely focus on charity. Since the company’s headquarters are in Texas, they have focused most of their philanthropic efforts in the region. However, they are still working towards making sure that their charitable acts can benefit people on a larger scale.
Stream Energy is a good exampleof how some of the companies in Dallas are focusing on charity. It has become an important part of their brands. Forming another branch that will deal with philanthropy is a new phenomenon. Many advantages come about when a company gives back to the society. Their clients will get to respect them, and they will also be loyal. Additionally, corporate philanthropy is publicized a lot. Such publicity is beneficial to a firm since executives can utilize it when the company profits fall or when there is a scandal affecting the organization.
More than $19 billion was used to engage in charity, courtesy of the different corporations in the U.S. The companies also offer sponsorships. Stream Energy has also formed a relationship with other organizations that engage in charity, and they include the Red Cross and Habitat for Humanity. Recently, they have also been working with Hope Supply Co. on different projects that involve giving back to the society. The partnership has been beneficial when it comes to eliminating homelessness in Dallas. Stream was happy to cater for the entrance and meal costs at an event that was meant to bring together more than 1,000 homeless children. Hope Supply Co. was able to ensure that these children had necessities such as school supplies and diapers as well as clothes.
Stream Energy knew they had a lot of work to do when it came to the company opportunities they could provide for others. They also knew they had to make sure they were offering everyone the options that would allow them to succeed in the future. Since they knew all about these different situations and about the right way to keep helping people, they felt they were doing the best job possible. The company also knew if they wanted to make things better for all their clients, they would have to focus on the right way to make sure people understood what they were doing. The company always focused on change and making changes so they didn’t have to worry about the issues that came from things people traditionally dealt with in the industry. There are a lot of different things that help account for the company’s focus on the things they want to do.
Stream Energy believesin making sure they’re offering everyone the best options. They knew what they wanted from the beginning and they pushed to make things happen so they could be better than they were in the past. It was their goal of providing positive experiences that allowed the company to focus and help others through the difficult experiences they had. There were many ways they pushed to focus on these changes and pushed to make sure the changes were happening so more people could help them with these options.
As long as Stream Energy focused on what they were doing and on how they were making the most out of the company standards, they could make sure that things like Stream Cares were successful. Stream Energy knew Stream Cares was a way for people to get what they were looking for. They also knew they had a chance to show people they could get more options from the way they did business. Since Stream Cares is a philanthropic effort, more people can see what they’re getting from the industry and how they’re able to make the biggest difference possible so they can help others.
On December 2017, Shervin Pishevar handed in his letter of resignation from Sherpa capital. Since then, he maintained a twitter silence of around two months until he came back giving predictions concerning topics such as the US stock exchange market, bitcoin, immigration, Silicon Valley and Space-X.
What could be the meaning of Shervin Pishever’s tweets?
The tweet storm that went on for two days and had 50 messages started with Shervin Pishevar saying a financial storm was on its way and he would explain why. Here is a look at the predictions Pishevar tweeted on and the reasons he gave;
Markets will go down with 6000 points in a few months
Pishevar explained that bonds volatility would cause ripples across all markets, he accused Washington DC of slacking on decisions concerning major trade deals in the global market. According to him, the bond market would rally first by trying to carry the equities market, but this would fail too.
The crash of bitcoin was on his 23rd tweet
Shervin Pishevar predicted the death of the cheap money era. This would cause the spread of inflation, the crash of the stock market, and underemployment’s systematic deterioration into an economic crisis. The rise of gold would be witnessed, but bitcoin’s crash would begin to stabilize after 24 months.
The end of Silicon Valley’s era as the center of technological innovations
Shervin Pishevar observed that Silicon Valley had already begun losing some grounds as the lead in technological innovations because other zones were now coming up and bringing with them stiff competition. Pishevar observed that now Silicon Valley has entirely become separate from its physical component and it has become an idea that can be remodeled anywhere in the world, by anyone with enough resources.
China will surpass the US, especially in infrastructure.
The speed with which infrastructure development in China is being carried out will challenge leaders in the US to start thinking about long-term goals. Shervin Pishevar accused leaders of sleeping on the job and letting infrastructure in the country go to utter ruin and orther countries winning over the U.S.
Louis Chenevert was born in 1958in Montreal Quebec. It was during his typical childhood that the world of business peaked his interest. He knew that if he gave endless dedication to his dream of entrepreneurship he would be successful. He understood that success came from hard work. Chenevert went on to study business at the University of Montreal. His major was production management. Production management is the department that makes sure goods are created with top notch quality, quantity, and speed, while costing the company very little, to gain a profit in the end. The production management department is sometimes the most important part of a company’s efficiency. Chenevert chose this area to work in because he hada desire to be instrumental in the success of a company.
Getting Into The Auto Industry
It was right after Louis Chenevert earned his degree in production management that he was hired on to General Motors in Quebec. Guy Hachey was very proud to have hired him. Hachey placed Chenevert in charge of the assembly line. The two young men had a common interest of making the company better and climbing the ladder at the same time. Hachey was already a year-and-some ahead of Chenevert. He says every time he would get promoted, he would promote Chenevert. Hachey says Chenevert is most likely the best executive he has ever had.
Continuing To Climb
In 2008Hachey went on to be the president and COO of the Bombardier Aerospace company up until 2014. Both of the young men learned so much from working in the auto industry. The speed of the assembly lines required so much attention to detail, as well as fast decision making. Hachey says they were building a vehicle per minute, that left very little room for error. If any mistakes were made, within the hour you could have 60 vehicles that needed correction. Today the two men are still close. They both recall their experience in the field, working together. Hachey says whenever they reflect on old times their laughs bring them both to tears.
Matthew H Fleeger has built a reputation as an important member of the oil and gas industry. Fleeger has more than three decades of experience in the business. Outside of gas and oil he also has a wealth of experience in both waste management and the tanning industries. His accomplishments have allowed him to achieve lot of recognition, including being named as part of the Who’s Who of Business Professionals.
Matt Fleeger is a graduate of Southern Methodist University. Matt Fleeger father is responsible for the oil company Gulf Coast Western and Fleeger would follow in his father’s footsteps. Fleeger earned his BA in Business and learned lots of skills in finance and marketing. These skill would help him greatly as he began his business career. Fleeger would use his experience to earn a number of leadership positions in the industry.
Starting in the mid 1980’s Matt Fleeger began serving in many major positions. He began by working in his father’s company Gulf Coast Western. Years later he began his own company MedSolutions, Inc. He has served as t Chief Executive Officer and President of that company. He has worked with Kinlaw Oil Company, serving as Vice President from 1990 to 1993. Serving as CEO of his own company MedSolutions, Fleeger helped the company grow to high levels. He eventually negotiated the sale of the company for nearly $60 million.
Fleeger has had lots of success outside of the oil industry. He is responsible for creating two great businesses in the tanning world which have produced revenues of more than 100 million dollars. Fleeger was also instrumental in the tanning company Palm Beach Tan, a company he has helped to become one of the most successful indoor tanning groups in the United States. Furthermore his tanning booth franchise Mystic Tan is now one of the most successful spray-tanning companies in the world.
Ever since it was established by its three principals, Wes Edens, Randal Nardone and Rob Kauffman, Fortress Investment group displayed high potential for growth, and within a few years, it was already setting the pace for other asset management firms and private equities. For instance, it became the first private firm to ever go public, an activity which took place during 2007’s New York Stock Exchange.
Today it oversees assets worth over $40 billion and has over 1750 investors as its clients in various sectors such as private equity firm, hedge funds and many others. Its exponential growth can be attributed to its impressive panel of leaders which today includes Wes Edens, Peter Briger and Randal Nardone. Before joining heads to establish Fortress, all three principals had remarkable career backgrounds in finance, and when they brought this to one table, there was no doubt that Fortress was meant to soar.
For instance, before coming to Fortress Investment Group, Wes Edens worked with various top-shelf companies in the world of finance such as the Lehman Brothers where he was served both as a partner and managing director. He also worked at Black Rock where he served the same roles. Besides his lucrative career, Mr. Edens great leadership and finance skills can be attributed to his impressive academic background as he is an alumnus of Oregon State University where he majored in the areas of business administration and finance.
Today, Wes focuses on the private equity department of Fortress which has been his area of specialization ever since its inception. Thanks to his proactive nature and positive attitude towards difficult situations, Wes helps steer Fortress to better and calmer waters with each wake.
As a businessman and investor, Wes Edens continuously comes up with innovative investments. For instance, he is the force behind the Bright line train operating in various areas, the most crucial route being the one between Miami and Fort Lauderdale. Through this route, Mr Edens has helped ease the lives of many commuters by reducing the congestion that was there before the rail system came into play. Additionally, the brightline train is the only rail system that is privately owned in the US.
Apart from being deeply engrossed in the world of finance and development, Wes Edens is an avid basketball fan. His love for sports saw him join hands with another sports enthusiast, Marc Lasry to purchase NBA’s Milwaukee bucks professional team for a whopping $550 million. When he is not busy focusing on his next strategy or business plan, Mr Edens can often be found supporting his tea, or backing eSports as he also happens to be the force behind Fly Quest.
With the long success of Fortress Investment Group, it comes as no surprise that their investment portfolio also includes a widening array of international investments and acquisitions. In order to continue its steady growth since its founding in 1989, Fortress Investment Group has embraced a forward-thinking mindset that has served the firm and its investors quite well. It is interesting to note that the firm began with investments in Italy but has also been active in Asia, primarily in the Japanese markets. Its first Yen-denominated funds, known as the Fortress Japan Opportunity Fund is one of the earliest forays into international markets made by Fortress Investment Group. From there, several more Asian-dominated funds emerged: Fortress Asia Macro Fund, Japan Opportunity Fund I and II, and FIG’s Japan Income Fund.
Fortress Investment Group also grew its office space in 2011 by adding its second location in the United States, situated in the San Francisco Bay area. Around this same time, the company also increased its presence in Asia by opening new locations in both Singapore and Shanghai. In 2017, almost exactly one decade after the firm decided to go public, it was acquired by SoftBank. While its name may sound American, SoftBank is, in fact, a Japanese multinational financial institution that has its primary location in Tokyo. It turned out to be an interesting acquisition model which is likely to serve both sides equally well. SoftBank made its acquisition at the $3.3B level and interestingly, FIG will continue to operate independently of SoftBank.
It will be interesting to see how the acquisition affects the investment strategies of FIG, but early moves suggest that they will not be altered too significantly. SoftBank is known for its investment in the technology field, one that FIG is not foreign to. There are several exciting new aspects emerging in today’s tech market with the Internet of Things chief among them. It is expected that Fortress will continue investments and acquisitions in the digital and technological industries, as evidenced by its recent $20M partnership with iPass on of the world’s largest wifi and connectivity providers.
Wesley Edens, also called Wes Edens is a sports team owner, businessman and a private equity investor. He was born in the year 1961, October 30th. Currently, he resides in New York together with his family. He has American nationality. Wesley Edens studied at the University of Oregon. He pursued and graduated with a bachelor’s of science in finance and Business Administration in the year 1984. Wesley Edens co-owns Milwaukee basketball located in Wisconsin. The entrepreneur co-owns the club with businessman Marc Lasry. The two businessmen bought the team from Herb Kohl. They purchased the basketball team at the cost of $550 million. The duo promised to keep the club at Wisconsin. Additionally, they promised to build the team a new Arena replacing the BMO Harris Bradley Center.
Edens also owns the League of Legends team FlyQuest. Wesley Edens never started his career immediately from the University. He went looking for a job at Lehman Brothers three years after campus. Edens was lucky to find one. He worked at the organization as a partner and managing director of the firm until the year 1993. Edens quit his role at the firm and went to another company. He got another job at Blackrocks. The firm was private equity. He remained in the institution until the year 1997 where he was a partner and a managing director. However, his time there was short-lived as he quit the job in the year 1997. Wesley Edens decided to pursue something else.Wesley Edens met the other four principals where they sat and came up with a very brilliant idea of establishing Fortress investment group. Wesley Eden’s management style was witnessed in a journal ‘The wall street’.
The journal described his creativity in financing and other dazzling ideas in business investments. Together with his principals, Michael Edward, Randal Nardone, Peter Briger and Robert Kauffman, they transformed the firm as the first private equity organization to become a publicly traded company. By the year 2009, the company had already sold 8% of its shares that went at the cost of $600 million. The investment firm assets under its management included both publicly traded alternative and private equity investment vehicles. Four hedge funds, real estate vehicles and fourteen private equity funds belonging to the organization went public. When a Japanese holding company bought 15% of Fortress for $888 million in December 2006, Wesley Edens together with his colleagues became instant paper billionaires. Wesley Edens has a low profile kind of life. At work, he relates so well to his employees. He is always cheerful.