Fortress Investment Group made a GAAP net loss of USD190m for the quarter ended 30 September 2009. The GAAP net loss attributable to class A shareholders was USD59m, or USD0.43 per diluted share, as compared to a loss of USD0.66 per diluted share for the quarter ended 30 September 2008. Excluding principals agreement compensation, third quarter GAAP net income was USD50m. For the third quarter, fund management distributable earnings were USD51m compared to USD63m in the third quarter of 2008. Pre-tax DE for the third quarter was USD57m, or USD0.11 per dividend paying share/unit, versus a loss of USD20m for

The Blackstone Group made a GAAP net loss of USD176m for the third quarter of 2009, compared to a GAAP net loss of USD340m for the third quarter of 2008. Total segment revenues were USD603.8m, up USD200.2m from USD403.6m for the second quarter of 2009 and up USD833.0m from USD(229.2)m for the third quarter of 2008. The year-over-year change was driven by net appreciation of the underlying portfolio investments in the corporate private equity and credit and marketable alternatives segments, as well as stabilization in the fair value of the real estate segment’s underlying portfolio investments. These increases were partially

Hedge funds consolidated their upward trend in September as the Credit Suisse/Tremont Broad Hedge Fund Index returned a solid 3.04 per cent for a seventh consecutive month of positive returns, according to a report from Lipper. The Broad Hedge Fund index returned a positive 7.27 per cent in third quarter for a year-to-date performance of 14.97 per cent. Resembling August’s pattern, all hedge fund strategies except dedicated short bias posted positive performance in September. Consolidating the positive trend since March, the best performing hedge fund strategy was emerging markets, returning a remarkable 4.94 per cent, while the worst performing strategy

The Chartered Alternative Investment Analyst Association, an independent, not-for-profit international organisation, has launched CAIA Hong Kong, its tenth global chapter. “Hong Kong, one of the world’s premier financial centres, is home to a very active, engaged and growing segment of our global membership,” says Craig Asche, executive director of the CAIA Association. “Over the past three years, the Hong Kong membership has increased dramatically and through their initiative has developed a dynamic local network, highlighted by several exceptionally well-orchestrated and oversubscribed educational and social events. It is therefore with great pleasure and pride that we welcome Hong Kong into our

Credit default swap markets moved modestly wider over the past month, as tightening momentum over the previous six months began to dissipate, according to GFI Group. Corporate markets were also more volatile over the month, as Q3 earnings season triggered creditors to reset their expectations. Volumes remained heavily dominated by financial sectors, as greater visibility brought about by company earnings sparked greater interest in the sector. CIT Group saw good volume across the term structure, as ongoing uncertainty regarding the restructuring of their existing liabilities – ultimately resulting in bankruptcy filing – maintained liquidity in the name. Elsewhere, financial services

NYSE Euronext says trading volumes for its global cash equities and derivatives exchanges in October 2009 were mostly lower compared to October 2008 levels, during which crisis-level volatility drove record trading volumes.  Trading volumes compared to September 2009 were mixed, with US options and European cash increasing 6.3 per cent and 7.1 per cent respectively, and European derivatives and US cash decreasing, 11.1 per cent and 3.3 per cent respectively.   NYSE Euronext European derivatives products average daily volume in October 2009 of 3.9 million contracts decreased 12.9 per cent compared to October 2008, and decreased 11.1 per cent from

US-listed asset manager GLG Partners made a GAAP net loss attributable to common stockholders of USD99m for the quarter ended 30 September 2009 and a net loss of USD243.7m for the first nine months of fiscal 2009. GAAP diluted EPS was a loss of USD0.45 for the quarter ended 30 September 2009 and a loss of USD1.12 for the first nine months of 2009. This compares to a GAAP net loss attributable to common stockholders of USD167.1m and diluted EPS loss of USD0.79 for the quarter ended 30 September 2008, and a net loss of USD487.0m and diluted EPS loss