reports
Despite a better risk assessment and improving to Neutral, FORTRESS IN...
FORTRESS INV.GP.LLC. (US), a company active in the Asset Managers industry, improves its market behaviour and slightly increases its general evaluation. The independent financial analyst theScreener just upgraded the stock market behaviour as defensive. At a fundamental level, theScreener confirms 0 out of 4 possible stars; the general evaluation is slightly increased to Neutral but the title remains under pressure. As of the analysis date December 22, 2017, the closing price was USD 7.87 and it...
Fortress Reports Third Quarter 2017 Results
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) (“Fortress” or the “Company”) today reported its third quarter 2017 financial results. FINANCIAL SUMMARY Management Fee Paying Assets Under Management (“AUM”) of $36.1 billion as of September 30, 2017, down 2% compared to the previous quarter’s AUM, adjusted to exclude the Logan Circle business which Fortress sold in September 2017 GAAP net income of $190 million, or $0.37 per diluted Class A share, for the th...
Fortress Reports Second Quarter 2017 Results
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (“Fortress” or the “Company”) today reported its second quarter 2017 financial results. FINANCIAL SUMMARY Management Fee Paying Assets Under Management (“AUM”) of $72.4 billion as of June 30, 2017, up 3% compared to the previous quarter GAAP net income of $32 million, or $0.06 per diluted Class A share, for the second quarter of 2017, compared to a GAAP net loss of $27 million, or a $0.07 loss per diluted Class A share,...
Fortress Shareholders Approve Proposed Acquisition by SoftBank
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (“Fortress” or the “Company”) today announced that, at its special meeting of shareholders held earlier today, the Company’s shareholders had voted, among other things, in favor of the proposal to adopt the previously announced merger agreement pursuant to which certain subsidiaries of SoftBank Group Corp. (“SoftBank”) will acquire Fortress for approximately $3.3 billion in cash. Approximately 63.1% of Fortress’s Class A and Class B shares outstanding and entitled to...
- Please Change Name Dean Ungar
Moody's assigns first-time rating of Baa3 to FinCo I LLC
Rating Action: Moody's assigns first-time rating of Baa3 to FinCo I LLC. Global Credit Research- 17 May 2017. New York, May 17, 2017-- Moody's Investors Service, has today assigned a Baa3 long-term issuer rating to FinCo I LLC, which will be a parent company of and act as the borrowing entity for Fortress Investment Group LLC after the acquisition of Fortress by SoftBank Group Corp..
Fortress Reports First Quarter 2017 Results and Announces Dividend of ...
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (“Fortress” or the “Company”) today reported its first quarter 2017 financial results. FINANCIAL SUMMARY Fortress declared a cash dividend of $0.09 per dividend paying share for the first quarter 2017 Management Fee Paying Assets Under Management (“AUM”) of $70.2 billion as of March 31, 2017, up 1% compared to the previous quarter GAAP net loss of $7 million, or a $0.02 loss per diluted Class A sha...
Fortress Raises $590 million for Secured Lending Fund
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) announced today the successful close of the Fortress Secured Lending Fund (“FSLF”). The fund was oversubscribed, with total accepted capital of $590 million, nearly 20% over an original target of $500 million. FSLF will become the primary funding source for the firm’s established specialty finance lending business, which has committed approximately $5 billion across over 80 lender finance transactions since 2006. Led by co-CIOs Pete Briger, Dean Dakolias an...
Fortress Announces Release of 2016 K-1 Tax Packages
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (“Fortress”) today announced that its 2016 Schedule K-1 tax packages are now available online. Fortress shareholders may access their Schedule K-1 tax package at www.taxpackagesupport.com/fortress or by visiting the Public Shareholders section of Fortress’s website at www.fortress.com. The mailing of 2016 Schedule K-1 tax packages is expected to commence today. For additional information, shareholders may call Fortress Tax Package Support toll free at (866) 526-0125. ...
Fortress Reports Fourth Quarter and Year End 2016 Results and Announce...
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (“Fortress” or the “Company”) today reported its fourth quarter and year end 2016 financial results. RECENT DEVELOPMENTS On February 14, 2017, Fortress announced that it had entered into a definitive merger agreement pursuant to which it will be acquired by SoftBank Group Corp. (“SoftBank”) in an all-cash transaction. The transaction is anticipated to close in the second half of 2017, after which Fortress will operate as an independ...
Fortress Credit Business and Drawbridge Special Opportunities Funds Re...
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) was recognized for “Outstanding Achievement by a Credit Firm” at the Alt Credit Intelligence 2017 U.S. Performance Awards. Fortress’s Drawbridge Special Opportunities Funds (“DBSO”) received top honors as the industry’s best Multi-Strategy Credit Fund. Winners were chosen by a panel of judges including representatives from Alt Credit Intelligence, leading institutional and private investors and industry experts. The awards recognize alternative credit firms,...
INVESTOR ALERT: Brower Piven Commences An Investigation Into The Propo...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Fortress Investment Group LLC (NYSE: FIG) (“FIG” or the “Company”) relating to the proposed buyout of FIG by SoftBank Group Corp. Under the terms of the agreement, FIG shareholders are anticipated to receive $8.08 in cash for each Class A share of FIG common stock held. The firm’s ...
FORTRESS INVESTMENT GROUP LLC SHAREHOLDER ALERT: Rigrodsky & Long, P.A...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Fortress Investment Group LLC (NYSE: FIG)? Did you purchase any of your shares prior to February 14, 2017? Do you think the proposed buyout price is too low? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Fortress Investment Group LLC (“Fortress” or the “Company”) (NYS...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Fortress Investment Group LLC (NYSE: FIG) (“FIG” or the “Company”) relating to the proposed buyout of FIG by SoftBank Group Corp. Under the terms of the agreement, FIG shareholders are anticipated to receive $8.08 in cash for each Class A share of FIG common stock held. The firm’s ...
Fortress Announces Sale of Revolution Studios
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (together with its affiliates and the investment funds and accounts managed thereby, “Fortress”) today announced the sale of Revolution Studios (“Revolution”), owner of one of the largest libraries of premium entertainment content worldwide, to Content Partners. Fortress acquired Revolution from Joe Roth and other original partners in June 2014. Fortress recapitalized the company, and worked closely with Revolution’s leadership team in executing an ambitious...
Fortress Announces Agreement to Acquire UniCredit NPL Portfolio
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (together with its affiliates, “Fortress”) today announced an agreement to acquire a significant portion of a €17.7 billion portfolio of non-performing Italian loans from UniCredit S.p.A. At closing, the UniCredit transaction will represent the largest ever non-performing loan (“NPL”) transaction in Europe. Fortress began investing in Italian loans and loan servicing in 2000, with its investment in Italfondiario S.p.A. (“Italfondiario”), which was sub...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Fortress Announces Sale of Riverplace Tower in Downtown Jacksonville
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) (together with its affiliates, “Fortress”) today announced the sale of Riverplace Tower, an iconic 28-story waterfront tower located on the St. Johns River in downtown Jacksonville, FL. The 441,000 square foot Class A tower was sold for $53.4 million after being acquired two years earlier for $29 million by a partnership between Fortress and Lingerfelt Commonwealth Partners. The partnership made capital improvements to the property following its acquisition...
Fortress Announces Acquisition of Limited Partner Interest in Red Rock...
OKLAHOMA CITY & NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG, “Fortress”) today announced that certain Fortress managed funds and accounts (“Fortress Credit Funds”) have acquired a limited partner interest in Red Rocks Energy Partners L.P. to own and develop oil and gas assets in over 7,200 acres in the SCOOP play in Grady, McClain, and Garvin Counties, Oklahoma. Over the last 5 years funds within Fortress’ Credit business (“Fortress Credit”) have invested over $1.5 billion in both debt and equity across ...
Fortress Reports Third Quarter 2016 Results and Announces Dividend of ...
NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE:FIG) (“Fortress” or the “Company”) today reported its third quarter 2016 financial results. FINANCIAL SUMMARY Fortress declared a cash dividend of $0.09 per dividend paying share for the third quarter 2016 Management Fee Paying Assets Under Management (“AUM”) of $70.1 billion as of September 30, 2016, down slightly compared to the previous quarter and down 6% compared to September 30, 2015 GAAP net inco...
Fortress Drawbridge Special Opportunities Funds Named “Best Credit F...
NEW YORK--(BUSINESS WIRE)-- For a fourth consecutive year, funds managed by Fortress Investment Group LLC (NYSE:FIG) were recognized at HFMWeek’s US Performance Awards. Fortress’s Drawbridge Special Opportunities Funds (“DBSO”) received top honors as the industry’s “Best Credit Fund” with over $1 billion in assets under management, an award the fund also received in 2015. In both 2013 and 2014, DBSO won HFMWeek’s “Single Manager Long-Term Performance Overall” award for five-year performance. Winners were chosen by senior-leve...
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