Wednesday, 17 September 2014
Last updated 15 hours ago
May 8 2008 | 12:47pm ET
Fortress Investment Group posted a loss in the first quarter despite a big jump in assets under management and revenue.
The firm said it lost $69 million in the first three months of the year, compared to a $62.1 million profit a year earlier. Pre-tax distributable earnings fell almost three-quarters to $58 million from $220 million in the first quarter of 2007. The drop was attributed to payments to the firm's principals.
But the news was not all bad: The alternatives giant said assets under management soared 46% to $34.2 billion, while quarterly revenue rose 48% to $145 million.
Fortress, which went public last year, said it raised $2.6 billion in capital in the first quarter, and has raised another $1.8 billion since.
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…
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