Fortress Profit Jumps 13%

Feb 27 2014 | 1:49pm ET

Fortress Investment Group said today that its fourth-quarter profit rose 13% as performance fees rose.

The private-equity firm’s pre-tax distributable earnings were $121 million in the last three months of the year, compared to $107 million in the year-earlier period. Incentive income was up 53%; Fortress’ macro fund returned 4.8% on the quarter, and its Asia macro fund rose 4%.

Under generally-accepted accounting principles, Fortress earned 4146 million on the quarter, up from $102 million in the fourth quarter of 2012.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...