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

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

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

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...