Fortress Investment Group LLC (NYSE:FIG) Files An 8-K Regulation FD Disclosure
Item7.01.
| Regulation FD Disclosure. |
Fortress Investment Group LLC (Fortress or the Company) today
reported estimated, unaudited credit hedge fund returns for the
month ended October31, 2016.
Credit Hedge Funds
The following table shows our estimated, unaudited net returns by
credit hedge fund:
|
Estimated OneMonthEnded October31,2016(2) |
Estimated Year-to-Date October31, 2016(3) |
|||
|
Net Returns(1) |
||||
|
Drawbridge Special Opportunities Fund LP(4) |
0.76% | 7.05% | ||
|
Drawbridge Special Opportunities Offshore Fund Ltd.(4) |
0.75% | 4.04% |
| (1) |
The performance data in the table above reflect returns for a new issue eligible, single investor class as of the close of business on the last day of the relevant period. Net returns reflect performance data after taking into account management fees and expenses borne by the above referenced funds, and incentive allocations, as applicable. |
| (2) |
Monthly performance data are based on managements unaudited estimates, as of the date hereof, for performance of the above referenced funds for the period indicated. Such performance data may change upon completion of the month-end and year-end valuation procedures, and any such changes could be material. |
| (3) |
Year-to-date performance data are based on managements unaudited estimates, as of the date hereof, for performance of the above referenced funds from January1, 2016 through the date indicated. Such data may change upon completion of the month-end and year-end valuation procedures, and any such changes could be material. |
| (4) |
The returns for the Drawbridge Special Opportunities Funds exclude the performance of the Special Investments. The returns for the Drawbridge Special Opportunities Funds reflect performance of each fund excluding the performance of the redeeming capital accounts which relate to December 31, 2009, December 31, 2010, December 31, 2011, December 31, 2012, December 31, 2013, December 31, 2014 and December 31, 2015 redemptions in the case of Drawbridge Special Opportunities Fund LP, and December 31, 2015 redemptions in the case of Drawbridge Special Opportunities Offshore Fund Ltd. |
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this Current Report may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.These statements are
generally identified by the use of words such as outlook,
believe, expect, potential, continue, may, will, should, could,
would, seek, approximately, predict, intend, plan, estimate,
anticipate, opportunity, pipeline, comfortable, assume, remain,
maintain, sustain, achieve or the negative version of those words
or other comparable words. Forward-looking statements are not
historical facts, but instead represent only the Companys beliefs
as of the date of this report regarding future events, many of
which, by their nature, are inherently uncertain and outside of
the Companys control. Numerous factors, including, but not
limited to, the net asset value of assets in certain Fortress
funds, could cause actual events to differ from these
forward-looking statements, and any such differences could cause
our actual results to differ materially from the results
expressed or implied by these forward-looking statements. In
addition, new risks and uncertainties emerge from time to time,
and it is not possible for the Company to predict or assess the
impact of every factor that may cause its actual results to
differ from those expressed or implied in any forward-looking
statements.
Accordingly, you should not place undue reliance on any
forward-looking statements contained in this Current Report, and
you should not regard any forward-looking statement as a
representation by the Company or any other person that the future
plans, estimates or expectations currently contemplated by the
Company will be achieved. You should consider any forward-looking
statements included in this report in light of the risks and
other important factors described in the Companys filings with
the Securities and Exchange Commission, particularly those
identified in the sections entitled Risk Factors and Managements
Discussion and Analysis of Financial Condition and Results of
Operations in the Companysmost recent Quarterly Report on Form
10-Q and Annual Report on Form 10-K, which are available on the
Companys website (www.fortress.com). The Company can give
no assurance that the expectations of any forward-looking
statement will be obtained. Such forward-looking statements speak
only as of the date of this Current Report. The Company expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Companys expectations with regard
thereto or any change in events, conditions or circumstances on
which any statement is based.
* * *
This Current Report is being furnished and shall not be deemed to
be filed for purposes of Section18 of the Securities Exchange Act
of 1934, as amended (the Exchange Act), or otherwise subject to
the liabilities of that section, nor shall it be incorporated by
reference into any of the Companys filings under the Securities
Act of 1933, as amended, or the Exchange Act, unless expressly
set forth as being incorporated by reference into such filing.
This Current Report shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
2
About Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. Its business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (collectively, the Fortress Funds). Fortress makes investments in these funds. Fortress’s primary sources of income from the Fortress Funds are management fees, incentive income and investment income on its investments in the funds. The Company’s private equity business manages approximately $15.8 billion of AUM; credit funds business manages over $18.1 billion of AUM; liquid hedge funds business manages over $5.4 billion of AUM, and Logan Circle business manages approximately $31.2 billion of AUM. Fortress Investment Group LLC (NYSE:FIG) Recent Trading Information
Fortress Investment Group LLC (NYSE:FIG) closed its last trading session up +0.02 at 5.20 with 926,991 shares trading hands.
