Fortress Investment Group LLC (NYSE:FIG) Files An 8-K Regulation FD DisclosureItem 7.01.
Fortress Investment Group LLC (“Fortress” or the “Company”) today reported estimated, unaudited credit hedge fund returns for the month ended May31, 2017.
Credit Hedge Funds
The following table shows our estimated, unaudited net returns by credit hedge fund:
| Estimated MonthEnded May31,2017(2) | Estimated Year-to-Date May31, 2017(3) | |||
|
Net Returns(1) |
||||
|
Drawbridge Special Opportunities Fund LP(4) |
0.53 | % | 3.02 | % |
|
Drawbridge Special Opportunities Offshore Fund Ltd.(4) |
0.24 | % | 2.41 | % |
| (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 management’s 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 management’s unaudited estimates, as of the date hereof, for performance of the above referenced funds from January1, 2017 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 December31, 2009,December31, 2010,December31, 2011,December31, 2012,December31, 2013,December31, 2014,December31, 2015 and December31, 2016 redemptions in the case of Drawbridge Special Opportunities Fund LP, and December31, 2015 and December31, 2016 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 Company’s beliefs as of the date of this report regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s 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 Company’s filings with the Securities and Exchange Commission, particularly those identified in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’smost recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, which are available on the Company’s 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 Company’s 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 Company’s 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.
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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.
