Fortress third-quarter earnings beat estimates

Reuters – Fortress Investment Group (FIG.N) reported third-quarter earnings above analysts’ expectations on Friday, as a strong performance in its credit products and hedge funds boosted management fees.

The New York-based hedge fund and private equity firm said pretax distributable income rose to $78 million, or 15 cents per share, from $51 million, or 11 cents a share, a year earlier.

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