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• Fortress declared a fourth quarter 2011 dividend of $0.05 per share. The dividend will be paid on March 15, 2012 to holders of record as of the close of business on March 12, 2012.
• Assets under management of $43.7 billion as of December 31, 2011, down 2% from $44.6 billion as of December 31, 2010.
• 2011 GAAP net loss of $1.1 billion, an increase of 43% from a net loss of $782 million in 2010. GAAP net loss attributable to Class A shareholders in 2011 was $432 million, an increase of 52% from a net loss of $285 million in 2010; 2011 GAAP net loss of $2.36 per diluted share, an increase of 29% from a net loss of $1.83 per diluted share in 2010.
• Pre-tax distributable earnings (DE) of $242 million in 2011, down 35% from $372 million in 2010; pre-tax DE of $0.46 per dividend paying share in 2011, down 36% from $0.72 per dividend paying share in 2010.
• Fund management DE of $253 million in 2011, down 29% from $358 million in 2010.
• GAAP book value per share of $2.14 as of December 31, 2011, up 8% from $1.98 per share as of December 31, 2010. Net cash and investments of $2.17 per dividend paying share as of December 31, 2011, up 19% from $1.82 per dividend paying share as of December 31, 2010.
• Raised $4.2 billion of new third-party capital during 2011, $2.0 billion of which was included in assets under management as of December 31, 2011. The remaining $2.2 billion is capital committed to our funds by investors that will become assets under management when called. Of the $4.2 billion raised, $2.2 billion was in Credit Private Equity Funds, $1.3 billion was in Liquid Hedge Funds, $434 million was in Credit Hedge Funds, $220 million was in Castles and $51 million was in Private Equity.

Press release

bc