Thursday, 31 July 2014
Last updated 7 hours ago
Aug 1 2013 | 10:57am ET
Fortress Investment Group's second-quarter profit nearly tripled, buoyed by higher hedge fund fee income.
The New York-based firm's pretax distributable earnings rose to $148 million from $50 million a year earlier. The number easily toped analysts' estimates by 50%.
Under generally-accepted accounting principles, Fortress posted a loss of $2.1 million, compared to $5 million in the year-earlier period.
Fortress credited higher management fee income for the big gains.
The firm said it would be a 6 cent per share dividend for the quarter.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…