Saturday, 30 August 2014
Last updated 1 day 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 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...