Fortress Investment Group's Asset Under Management Increase to $47.8 billion

August 4th, 2012
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Contributed by: Company Press Release
Fortress Investment Group LLC (NYSE: FIG) today reported its second quarter 2012 financial results.

FINANCIAL SUMMARY

• Fortress declares a distribution of $0.05 per dividend paying share
for the second quarter of 2012

• Assets under management increased to $47.8 billion as of June 30,
2012, not including uncalled capital, or "dry powder," of $7.4 billion, which will become fee-paying assets under management when
invested

• GAAP net income of $14 million in the second quarter of 2012; GAAP book value per share of $2.17 as of June 30, 2012

• Pre-tax distributable earnings of $50 million, or $0.09 per dividend paying share, in the second quarter of 2012

• Net cash and investments of $2.12 per dividend paying share as of June 30, 2012

• $507 million of embedded incentive income across the funds as of June 30, 2012

BUSINESS HIGHLIGHTS

• Raised $1.1 billion of third-party capital across alternatives businesses in the quarter, bringing total third-party capital raised
year-to-date through June 30, 2012 to $4.0 billion

• Recorded $1.7 billion of net inflows for Logan Circle during the quarter, bringing total net inflows year-to-date through June 30, 2012
to $4.0 billion

• Delivered strong investment performance across all businesses:

o Net second quarter 2012 returns of 3.3% in the Drawbridge Special Opportunities Fund, 1.7% in the Fortress Macro Funds and 0.9% in the Fortress Asia Macro Funds; net first half 2012 returns of 7.6% in the Drawbridge Special Opportunities Fund, 8.0% in the Fortress Macro Funds and 6.8% in the Fortress Asia Macro Funds

o Private Equity fund valuations increased 5.4% during the quarter, and 10.5% year-to-date through June 30, 2012

o Net annualized inception-to-date IRRs through quarter end for the Credit Opportunities Fund and Credit Opportunities Fund II of
26.9% and 16.9%, respectively

o 12 of Logan Circle's 15 strategies outperformed respective benchmarks in the first half of 2012; since inception, 14 out of
15 strategies have outperformed their respective benchmarks

• Subsequent to quarter end:

o Raised $167 million of permanent equity capital for Newcastle Investment Corp.

Entered into agreement to sell Private Equity portfolio company RailAmerica for an all cash purchase price of $27.50 per share, with expected close in the fourth quarter of 2012.

Click Source to see complete details
See Press Release
For Detailed Investor Profiles on these Investors, click below:
Fortress Investment Group
Related People: Daniel Mudd*; Jude Driscoll; Michael E. Novogratz; Randal Nardone; Robert Kauffman*; Wesley Edens; William F. Callanan*
Related Entities: Drawbridge Global Macro Funds; Fortress Commodities Fund LP; Fortress Partners Funds; Fortress Value Recovery Funds ; Logan Circle Partners; Newcastle Investment Corp
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Resources and Featured Partner News


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