Thursday, 24 July 2014
Last updated 14 hours ago
Nov 13 2007 | 11:41am ET
For the second straight quarter, Fortress Investment Group is in the red, after a special charge wiped out its profit.
The New York-based alternatives giant posted a net loss of $38 million in the third quarter, due to a non-cash charge of $54 million stemming for its principals’ agreement related to the firm's initial public offering in February. Fortress turned a $64.7 million profit in the year-ago period.
Third-quarter revenue soared 80% to $219 million as assets under management declined 8% to $39.9 billion.
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…