Optimism regarding opportunistic credit strategies available in the market is low, Fortress executives said on the firm’s recent earnings call, prompting the firm to outline a more defensive strategy in the near term.
Overall, the firm described a positive quarter for its credit investments with pre-tax distributable earnings amounting to $90 million, up from $69 million in the same period last year driven by a strong performance in the credit and private equity funds, the firm said.
