Fortress Investment Group reports $46 million in earnings; Novogratz, Briger, Edens, Kauffman Nardone sign 5 year agreements
|August 5th, 2011||
|Fortress Investment Group LLC released lower than anticipated earnings for the second quarter this week, while at the same time announcing that it will once again start paying a dividend, after a three year lapse. According Reuters, Fortress reported pretax earnings of $46 million. The hedge fund manager had earned $73 million over the same period of last year.|
Pushing down Fortress Investment Group’s earnings were poor performance numbers for its hedge funds, as well as lower than expected returns for the firm’s credit-focused private equity funds.
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