Despite posting gains in most of its hedge funds, including its largest, Fortress Investment Group will not remember February fondly.
The New York-based alternative investments giant saw its Asia Macro Fund add 1.5% and its flagship macro fund 0.8% last month, it said in a regulatory filing yesterday. Those funds are now up 3.76% and 4.71% on the year, respectively.
But its commodities fund's losses dwarfed those at 5.01% in February. That fund is now down 5.43% in 2012.
The two funds that did manage to post gains last month badly trailed the Standard & Poor's 500 Index, which added 4.1% in February.
Fortress' credit hedge funds report a month later than its liquid offerings, and returned between 1.18% and 1.34% in January.