Tuesday, 1 December 2015
Last updated 15 hours ago
Feb 25 2010 | 1:33pm ET
Fortress Investment Group cut its fourth-quarter loss by more than a third as assets under management rose and hedge fund performance improved.
The New York-based alternative investments giant suffered a $261 million net loss last quarter, down from $426 million in the year-earlier period. Distributable earnings were $60 million, up from $7 million in the fourth quarter of 2008.
The firm’s assets under management climbed to $31.8 billion, up 7.8% from $29.5 billion at the end of 2008. Fortress raised $616 million from investors on the quarter—nearly half of the $1.4 billion it raised all of last year—with two-thirds of that going to its liquid hedge funds.
Incentive fee income rose $57 million on the quarter. In the fourth quarter of 2008, it lost $107 million.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…