Fortress Investment Group had $31.8 billion in assets under management as of Dec. 31, about the same as three months earlier but 8% higher than the end of 2008.
“That number was essentially flat to Q3 as capital inflows and positive performance offset capital distributions actually paid out, and redemptions, actually paid out in the quarter,” Daniel H. Mudd, Fortress CEO, said during a conference call today.
Overall, Fortress suffered a net loss of $909 million for the year ended Dec. 31, down from a loss of $1.2 billion at year-end 2008, according to its fourth quarter and year-end financial report released today.
In the fourth quarter, Fortress lost $261 million, down from a loss of $426 million in the fourth quarter of 2008. Excluding principals' compensation, the net loss was $21 million, up from a net loss of $187 million in the fourth quarter 2008.
At Blackstone Group, fee-earning assets under management as of Dec. 31 was $96.1 billion, unchanged from Sept. 30 but up 6% from Dec. 31, 2008.
Blackstone earned $1.8 billion in revenues in 2009, up from a loss of $349 million at year-end 2008. Blackstone's net loss was $715 million, including net IPO- and acquisition-related charges of $875 million, down from a net loss of $1.2 billion at year-end 2008.