Item 7.01. Regulation FD Disclosure.
Fortress Investment Group LLC ("Fortress" or the "Company") today reported
estimated, unaudited credit hedge fund returns for the month ended October 31,
Credit Hedge Funds
The following table shows our estimated, unaudited net returns by credit hedge
Month Ended Year-to-Date
October 31, 2017(2) October 31, 2017(3)
Drawbridge Special Opportunities
Fund LP(4) 0.66 % 6.34 %
Drawbridge Special Opportunities
Offshore Fund Ltd.(4) 0.83 % 6.71 %
(1) The performance data in the table above 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.
(2) Monthly performance data are based on management's unaudited estimates, as of
the date hereof, for performance of the above referenced funds for the period
indicated. Such performance data may change upon completion of the month-end
and year-end valuation procedures, and any such changes could be material.
(3) Year-to-date performance data are based on management's unaudited estimates,
as of the date hereof, for performance of the above referenced funds from
January 1, 2017 through the date indicated. Such data may change upon
completion of the month-end and year-end valuation procedures, and any such
changes could be material.
(4) The returns for the Drawbridge Special Opportunities Funds exclude the
performance of the Special Investments. The returns for the Drawbridge
Special Opportunities Funds reflect performance of each fund excluding the
performance of the redeeming capital accounts which relate to December 31,
2009, December 31, 2010, December 31, 2011, December 31, 2012, December 31,
2013, December 31, 2014, December 31, 2015 and December 31, 2016 redemptions
in the case of Drawbridge Special Opportunities Fund LP, and December 31,
2015 and December 31, 2016 redemptions in the case of Drawbridge Special
Opportunities Offshore Fund Ltd.
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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