Fortress Investment Group reported $63.8 billion in assets under management as of June 30 in its second-quarter earnings release on Thursday.
It is a new peak in AUM for the alternative money manager, up 2.1% from the previous high of $62.5 billion as of March 31, and up 16.8% from a year earlier.
The greatest contributor to the quarterly increase was $1.7 billion in net inflows for Logan Circle Partners, the firm's traditional money management unit. Logan Circle accounted for 45.7% of the total AUM as of June 30 with $29.1 billion.
Fortress also had $1.1 billion in investment gains, raised $800 million in capital directly added to AUM and a $200 million increase in invested capital. Those increases were slightly offset by $2.1 billion in capital distributions to investors, $300 million in liquid hedge fund redemptions and $200 million in payments to credit hedge fund investors due to capital account redemptions.
Private equity accounted for 21.7% of total AUM, while credit funds and liquid hedge funds held 20.3% and 12.3%, respectively.
The Drawbridge Special Opportunities Fund, the firm's flagship credit hedge fund, had a net return of 2.5% for the quarter, but the Fortress Asia Macro Funds and Fortress Macros Funds had negative returns for the quarter, at -1.9% and -0.4%, respectively.
Private equity fund valuations, meanwhile, increased 2.8% in the second quarter, a turnaround from a first quarter that saw valuations drop 0.2%.
