Friday, 22 August 2014
Last updated 10 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note