Fortress Hedge Funds Post Double-Digit Gains In 2012

Jan 8 2013 | 12:50pm ET

Add New York-based Fortress Investment Group to the list of hedge funds that bucked the industry trend in 2012 and beat the S&P 500.

The average hedge fund ended the year up only 5.63%, according to the Eurekahedge Hedge Fund Index, while the Standard & Poor's 500 Index rose 16% on the year.

But Securities and Exchange Commission filings show three Fortress hedge funds posted double-digit returns last year.

The $2.3 billion Fortress Macro Fund was up 17.8%, after adding an estimated 3.07% in December alone.

The Fortress Asia Macro Fund did even better, adding 3.65% in December to end the year up 21.22%. The fund manages about $500 million.

And the $4.9 billion Drawbridge Special Opportunities Fund gained 1.20% in December for a full-year gain of 16.47%

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