Fortress Investment Group, a New York-based alternative investments company, is preparing to use a third of its $750m (€587m) flotation proceeds to repay debt taken out in the summer in part to pay its five principals $250m.

The five heads of Fortress had paid themselves $250m in June from an increase in the company's debt to $665m. In July, the five principals, Wesley Edens, Peter Briger, Robert Kauffman, Randal Nardone and Michael Novogratz, received another $42m in distributions from the group.