Tuesday, 28 July 2015
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…