Coal For Christmas: No Fortress Dividend In Q4

Dec 20 2010 | 10:30am ET

Stop us if you’ve heard this before: Fortress Investment Group is not paying a dividend to investors this quarter.

The New York-based alternative investments giant said it would “retain capital for future potential investment opportunities and for working capital purposes.” It is the tenth-straight quarter without a dividend from the $44 billion firm.

Fortress also said that director Howard Rubin would resign from its board at the end of the year. It appointed David Barry to fill Rubin’s post.

The firm did not offer any biographical information about Barry, who it said would be an independent director. Barry will also take over Rubin’s seats on Fortress’ audit and nominating committees; Rubin serves on the former as well as Fortress’ compensation committee.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of