Across its funds businesses Fortress Investment Group has put in some
good returns this year, including from its hedge funds. Should the
superior returns continue, the Group will be well placed to give better
profitability to its investors, not the least from Logan Circle, the
institutional fixed income manager acquired in April 2010.
The
second quarter results from Fortress reflected the significant shift in
the split of AUM that has taken place over the last year within the
group. Logan Circle continued to accumulate assets at a faster pace than
the rest of Fortress Investment Group. At the end of June the Logan
Circle AUM were up 40% y-o-y at $18.1bn, well ahead of the Private
Equity ($13.8bn) and Credit ($11.5bn) segments of the business in
absolute size and growth rates. AUM in the remaining segment, Liquid
Markets, were down 30% y-o-y at $4.4bn.
For comments on Fortress' hedge fund returns, the Group's view on credit markets globally, and a view on the implications for Fortress Investment Group of Logan Circle reaching a tipping point see the rest of this article on "Hedge Fund Insight"
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