Tuesday, 30 September 2014
Last updated 3 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...