Randal Nardone, a former lawyer, is one of the elite few in the world who can actually lay claim to being a self-made billionaire. The businessman, who has been listed more than once on Forbes annual list of billionaires and currently holds spot # 557, is one of the 1998 co-founding principals and current CEO of Fortress Investment Group–a leading global equity and investment management firm, boasting a portfolio that includes both private and public assets, real estate holdings, credit markets and hedge funds of almost 2,000 clients, totaling more than $46 billion.
Fortress also has the distinction of being the first large private equity firm to be listed on the New York Stock Exchange. In addition, Nardone, who got his Bachelor’s Degree from the University of Connecticut and J.D. from Boston University Law School and practiced law for many years before entering into the financial markets; also serves on several business advisory boards, where he carries various titles; including president and director. If that isn’t enough, Randal Nardone is also the acting director of Italian Real Estate Development firm, Eurocastle Investment.
Apparently, multi-tasking and laser-precision business acuity are special gifts that a rarified few like Mr. Randal Nardone possess; one, cultivated way back when he decided to leave his prestigious position as an executive partner with Thacher Proffitt and Wood Law Firm to venture into the often unforgiving and perilous waters of investment funding.Though new to the industry, Nardone proved to be a natural and quickly rose up the ranks and was soon the managing director of the Universal Bank of Sweden after stepping down as then head of Blackrock Financial Management. Shortly thereafter, in 1998, Nardone would meet the partners with whom he would co-found the immensely successfully, Fortress Investment Group—Wesley Edens and Robert Kauffman.Some twenty years later, Randal Nardone, who is based in New York; shows no signs of slowing down.
Highland Capital Management is the most-prominent credit managing firm in the world. The firm uses distressed credit markets to build capital for investors. The firm currently has assets totaling $18 billion with offices in New York, Singapore and Seoul.
Highland Capital Management has created stable investment portfolios for investors by focusing on a strategy that uses the firm’s best resources for the allocation of investments. The firm chooses a method that will operate with less risk to investors, but provide a diverse portfolio that sustains operating capital and brings forth promising yield returns.
One of the advantages that Highland Capital Management has over the competition is in its reduced rate that is 30 percent lower than its competition. That starting point has allowed the firm to engage at a level with investors that brings an opportunity for gaining capital before an investment even originates.
Highland Capital Management operates approximately $13 billion of collaterized loan obligations (CLO), making the firm the largest investment firm to operate in that asset-class. The firm remains as the principle credit management company to purchase private equity and distressed debt in a controlled space to add sustainable value. Highland Capital Management is able to take the debt of those companies and source it in a constructive direction, which results in high yield returns for investors.
The firm recently generated returns of 20.69 percent with a $400 million closed-end fund through NexPoint Credit Strategies and the firm is projected to reach 18.79 percent return over the next five years. This type of top performance by Highland Capital Management is consistent with their 27 year history of high yield returns for investors.
With an economy that has been challenged in recent years Highland Capital Management has managed to gain a significant edge on the credit market with below investment grade debt and equities. Highland Capital Management continues to surpass their competitors by choosing markets that otherwise would not be capitalized on for growth opportunities. The firm has set the best example of what should be done in a market that remains uncertain, yet provides many possibilities for investors to grow capital.