“The risk of a systemic financial crisis has now diminished. We’re now in a credit crisis rather than a liquidity crisis,” he said on a phone call in May.
Fortress reported a loss of $69 million in the first quarter. Earnings for the period were $58 million compared with $220 million for the first quarter in 2007. “Our business is not a business that can be measured quarterly,” insists Edens, but adds that one month into the second quarter, “we’re off to a good start”,
Since the beginning of the year, Fortress has launched several new funds.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
