Fortress Investment Group reported $67.5 billion in assets under management as of Dec. 31, up 2.2% from three months earlier and up 9.4% from a year earlier.
The quarterly increase included a $1.2 billion increase in invested capital; $1 billion in net inflows for Logan Circle Partners, the firm's traditional money management unit; $900 million in raised capital directly added to AUM; and $500 million in investment returns.
Offsetting those increases were $1.2 billion in capital distributions to investors, $500 million in fund reset date adjustments, $300 million in liquid hedge fund redemptions and $100 million in payments to credit hedge fund investors due to capital account redemptions.
Private equity accounted for 20.6% of total AUM, while credit hedge funds accounted for 19.4%, followed by liquid hedge funds at 12%.
Logan Circle Partners had $32.3 billion in AUM as of Dec. 31, up 4% from Sept. 30 and 27.4% from a year earlier.
Revenues for the fourth quarter totaled $670.6 million, up 66% from the previous quarter and up 18.6% from the same quarter a year earlier. Net income totaled $148 million, up from $10.2 million the previous quarter and down from $317.5 million from the same quarter a year earlier.