Fortress Investment Group, the alternative asset manager that went public last year, posted a net loss of $57m for the third quarter as investors filed requests to remove $4.5bn (€3.5bn) from liquid and hybrid hedge fund strategies following their mixed results.

Most of the third-quarter loss stemmed from the compensation agreement for directors tied to the company's initial public offering in February last year. Revenues fell 25% to $185m over last year.