Fortress Falls on Yet Another Drop in Profits
DealBook (Free subscription) | 05/08/2008
Stockholders in the Fortress Investment Group continued to see their holdings battered on Thursday morning. The hedge fund and private equity firm posted a 74 percent drop in quarterly profit year-over year, as the credit markets continue to make life miserable for alternative asset managers. Fortress said it earned $58 million in what it calls [...]
