Fortress Posts $29 Million Loss

Mar 25 2008 | 11:07am ET

Alternative investments giant Fortress Investment Group swung to a fourth-quarter loss, hurt by an increase in compensation-related expenses and a decrease in incentive fees.

The firm, which went public last year, posted a $29.3 million quarterly loss. In the fourth quarter of 2006, the firm earned $290 million.

Assets under management rose 15% to $37.8 billion, driving management fees up 43%. But performance fee income dropped 59% on the quarter.

Quarterly revenue slipped 22% to $196 million, while pre-tax distributable earnings fell 43% to $78 million.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...