Fortress’s Credit Private Equity Funds continued to generate strong investment performance during the third quarter as well, which contributed to a further increase in unrealized, undistributed incentive income. The Credit Opportunities Fund and Credit Opportunities Fund II had net annualized inception-to-date IRRs through September 30, 2012 of 26.9% and 17.8%, respectively. Unrealized, undistributed incentive income increased $84 million, or 24%, to $430 million in the third quarter and has increased $186 million, or 76%, during the first nine months of 2012.Also during the quarter, we completed the sale of CWCapital, CW Financial’s commercial real estate lending and primary servicing businesses, to Walker & Dunlop, Inc. (NYSE: WD) for $80 million in cash and $154 million of Walker & Dunlop common stock. Following the transaction’s close, Fortress’s Credit and Private Equity funds became Walker & Dunlop’s largest shareholder.
Fortress Reports Third Quarter 2012 Results And Announces Dividend Of $0.05 Per Share
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