NYC Commits $1.2B, Including Separate Account Deals With Apollo, Golden Tree

The New York City Comptroller’s Bureau of Asset Management, which oversees $122 billion across the city’s five main public pension funds, has committed $600 million to Apollo Global Management and $250 million to Golden Tree Asset Management as part of separate managed accounts that will focus on opportunistic credit strategies.

On Wall Street, Fortress Fails To Impress

Fortress Investment Group, one of the hardest hit of the publicly listed private equity firms, said its distributable income in the fourth quarter more than doubled to $122 million, or 24 cents a share, against $60 million one year ago. Analysts had expected earnings of 15 cents a share. But the big rise in Fortress’s […]

Fortress Scraps Dividend To Save Capital

NEW YORK (Reuters) – Fortress Investment Group LLC (FIG.N: Quote, Profile, Research, Stock Buzz), one of the few publicly traded U.S. alternative asset managers, said on Thursday it will not pay a third-quarter dividend, citing a need to preserve capital. The New York-based manager of private equity and hedge funds joins other financial companies to […]

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