•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

From Kirsten Bischoff, Opalesque New York:

The entire executive team was on hand for a sobering discussion at the quarterly earnings call for Fortress Investment Group. While the firm’s assets are up slightly over last year (+5%) earnings are down as hedge funds once again drop below highwater marks and fund management is down 26% (over the same quarter in 2010).

Although the firm’s Credit hedge funds are up 7% and 9% on the year, Fortress’ macro and commodities hedge funds have crossed back under highwater marks, which impacted the firm’s earnings through the drop off in performance fees. During the call the team said that of these funds, 95% of the assets are within 5% of reclaiming those levels and allowing the firm to resume collecting performance fees.

Assets under management for the Liquid Hedge Funds was $6.3 billion as of June 30, 2011, compared to $6.3 billion as of March 31, 2011 and $5.7 billion as of June 30, 2010.

Second quarter performance (gross) Fortress Macro Fund Ltd -5.4% (-2.6% YTD) Drawbridge Global Macro Fund -5.6% (-3.0% YTD) Fortress Commodities Fund LP -6.6% (-2.7% YTD) Fortress Asia Macro Fund -0.9% (+3.5% YTD) Fortress Partners Fund 0.2% (+3.8% YTD) Fortress Partners Offshore Fund 0.1% (+3.6% YTD)

Assets under management for the Credit Hedge Fund......................

To view our full article Click here