Wednesday, 3 September 2014
Last updated 13 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...