UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2011
Fortress Investment Group LLC
(Exact name of registrant as specified in its charter)
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| Delaware
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001-33294
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20-5837959 |
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| (State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.) |
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| 1345 Avenue of the Americas, 46th Floor, New York, New York
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10105 |
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| (Address of principal executive offices)
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(Zip Code) |
Registrant’s telephone number, including area code: (212) 798-6100
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure.
Fortress Investment Group LLC today reported estimated, unaudited credit hedge fund returns for the month
ended January 31, 2011 and estimated, unaudited liquid hedge fund returns for the
month ended February 28, 2011.
Credit Hedge Funds
The following table shows our estimated, unaudited net returns by credit hedge fund:
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Estimated |
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Estimated |
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One Month Ended |
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Year-to-Date |
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January 31, 2011(2) |
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January 31, 2011(3) |
Net Returns(1) |
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Drawbridge Special Opportunities L.P.(4) |
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1.93 |
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1.93 |
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Drawbridge Special Opportunities Ltd.(4) |
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1.77 |
% |
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1.77 |
% |
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The performance data contained herein reflect returns for a “new issue eligible,” single investor
class as of the close of business on the last day of the relevant period. Net returns reflect
performance data after taking into account management fees and expenses borne by the above
referenced funds, and incentive allocations, as applicable. The returns reflected herein are based
on invested capital, excluding the capital invested in unrealized special investments and the
unrealized portions of partially realized special investments. Realized returns associated with
special investments are included, when realized, in the fund’s performance history. Specific
performance may vary based on, among other things, whether fund investors are invested in one or
more special investments. |
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Monthly performance data are based on management’s unaudited estimates, as of the date hereof, for
performance of the above referenced funds from January 1, 2011 to January 31, 2011. Such performance
data may change upon completion of the month-end and year-end valuation procedures, and any such
changes could be material. |
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Performance data for year-to-date January 31, 2011 are based on management’s unaudited estimates, as
of the date hereof, for performance of the above referenced funds from January 1, 2011 to January
31, 2011. Such data may change upon completion of the month-end and year-end valuation procedures,
and any such changes could be material. |
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The returns for the Drawbridge Special Opportunities Funds reflect the performance of each
fund excluding the performance of the redeeming capital accounts which relate to December 31, 2008,
December 31, 2009 and December 31, 2010 redemptions in the case of Drawbridge Special Opportunities
L.P., and December 31, 2008 and December 31, 2009 redemptions in the case of Drawbridge Special
Opportunities Ltd. |
Liquid Hedge Funds
The following table shows our estimated, unaudited net returns by liquid hedge fund:
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Estimated |
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Estimated |
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One Month Ended |
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Year-to-Date |
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February 28, 2011(2) |
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February 28, 2011(3) |
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Net Returns(1) |
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Fortress Macro Fund Ltd |
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0.31% |
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0.12% |
Fortress Macro Onshore Fund LP |
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0.31% |
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0.12% |
Fortress Commodities Fund L.P. |
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0.71% |
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1.41% |
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| (1) |
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The performance data contained herein reflect returns for a single investor class,
“new issue eligible investor” that subscribed on the date each of the above
referenced funds was launched, as of the close of business on the last day of the
relevant period. Net returns reflect performance data after taking into account
management fees and expenses borne by the above referenced funds, and incentive
allocations, as applicable. |
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Monthly performance data are based on management’s unaudited estimates, as of the
date hereof, for performance of the above referenced funds from February 1, 2011 to
February 28, 2011. Such performance data may change upon completion of the
month-end and year-end valuation procedures, and any such changes could be
material. |
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Performance data for year-to-date February 28, 2011 are based on management’s
unaudited estimates, as of the date hereof, for performance of the above referenced
funds from January 1, 2011 to February 28, 2011. Such data may change upon
completion of the month-end and year-end valuation procedures, and any such changes
could be material. |
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Cautionary Note Regarding Forward-Looking Statements
Certain statements in this Current Report may constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These statements are generally
identified by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,”
“may,” “will,” “should,” “could,” “would,” “seek,” “approximately,” “predict,” “intend,” “plan,”
“estimate,” “anticipate,” “opportunity,” “pipeline,” “comfortable,” “assume,” “remain,” “maintain,”
“sustain,” “achieve” or the negative version of those words or other comparable words.
Forward-looking statements are not historical facts, but instead represent only the Company’s
beliefs as of the date of this report regarding future events, many of which, by their nature, are
inherently uncertain and outside of the Company’s control. Numerous factors, including, but not
limited to, the net asset value of assets in certain Fortress funds, could cause actual events to
differ from these forward-looking statements, and any such differences could cause our actual
results to differ materially from the results expressed or implied by these forward-looking
statements. In addition, new risks and uncertainties emerge from time to time, and it is not
possible for the Company to predict or assess the impact of every factor that may cause its actual
results to differ from those expressed or implied in any forward-looking statements.
Accordingly, you should not place undue reliance on any forward-looking statements contained in
this Current Report, and you should not regard any forward-looking statement as a representation by
the Company or any other person that the future plans, estimates or expectations currently
contemplated by the Company will be achieved. You should consider any forward-looking statements
included in this report in light of the risks and other important factors described in the
Company’s filings with the Securities and Exchange Commission, particularly those identified in the
sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” in the Company’s most recent Quarterly Report on Form 10-Q and Annual
Report on Form 10-K, which are available on the Company’s website (www.fortress.com).
The Company can give no assurance that the expectations of any forward-looking statement will be
obtained. Such forward-looking statements speak only as of the date of this Current Report. The
Company expressly disclaims any obligation to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the Company’s expectations
with regard thereto or any change in events, conditions or circumstances on which any statement is
based.
* * *
This Current Report is being furnished and shall not be deemed to be filed for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be incorporated by reference into any of the
Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, unless
expressly set forth as being incorporated by reference into such filing. This Current Report shall
not constitute an offer to sell or the solicitation of an offer to buy any securities nor will
there be any sale of these securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or other jurisdiction.
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