Fortress Investment Group made a GAAP net loss of USD261m during the first quarter of 2010 compared to a loss of USD287m for the first quarter of 2009.
The GAAP net loss attributable to class A shareholders was USD84m, or USD0.58 loss per diluted share, as compared to a loss of USD67m, or USD0.71 loss per diluted share, for the first quarter 2009.
Excluding principals agreement compensation, first quarter GAAP net loss was USD27m, as compared to a net loss of USD52m for first quarter 2009.
For the first quarter, fund management distributable earnings was USD92m compared to USD44m in the first quarter of 2009.
Pre-tax distributable earnings for the first quarter was USD96m versus USD9m for the first quarter of 2009.
On a pro-forma basis, Fortress managed USD41.6bn of assets in private equity funds, liquid hedge funds, credit funds and traditional asset management funds at 31 March 2010.
The private equity segments accounted for approximately 22 per cent of total segment revenues, the liquid hedge funds segment accounted for approximately 12 per cent of total segment revenues and the credit funds segments accounted for approximately 66 per cent of total segment revenues.
