Fortress Investment (FIG) 10-Q 30 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 24, 2014	Oct. 24, 2014
		Class A Shares	Class B Shares
Entity Registrant Name	'Fortress Investment Group LLC	'	'
Entity Central Index Key	'0001380393	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Sep-14	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	208,535,157	226,331,513
Document Fiscal Period Focus	'Q3	'	'
Document Fiscal Year Focus	'2014	'	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Assets	'	'	'
Cash and cash equivalents	$483,825,000	$364,583,000	$311,114,000
Deferred tax asset, net	385,300,000	'	'
Total assets (GAAP)	3,242,545,000	2,674,432,000	'
Liabilities	'	'	'
Total Liabilities	1,491,937,000	1,059,527,000	'
Commitments and Contingencies	'	'	'
Equity	'	'	'
Paid-in capital	2,004,828,000	2,112,720,000	'
Retained earnings (accumulated deficit)	-1,412,494,000	-1,286,131,000	'
Accumulated other comprehensive income (loss)	-1,870,000	-1,522,000	'
Total Fortress shareholdersb equity	590,464,000	825,067,000	'
Non-controlling interests	587,315,000	789,838,000	'
Total Equity	1,715,721,000	1,614,905,000	'
Total Liabilities, Redeemable Non-controlling Interests and Equity	3,242,545,000	2,674,432,000	'
Class A Shares	'	'	'
Equity	'	'	'
Common stock	0	0	'
Class B Shares	'	'	'
Equity	'	'	'
Common stock	0	0	'
Investment Manager	'	'	'
Assets	'	'	'
Cash and cash equivalents	332,158,000	364,583,000	311,114,000
Due from affiliates	165,074,000	407,124,000	'
Investments	1,099,955,000	1,253,266,000	'
Investments in options	70,251,000	104,338,000	'
Deferred tax asset, net	385,301,000	354,526,000	'
Other assets	174,623,000	190,595,000	'
Total assets (GAAP)	2,419,568,000	2,674,432,000	'
Liabilities	'	'	'
Accrued compensation and benefits	269,060,000	417,309,000	'
Due to affiliates	356,189,000	344,832,000	'
Deferred incentive income	283,684,000	247,556,000	'
Debt obligations payable	75,000,000	0	'
Other liabilities	116,113,000	49,830,000	'
Total Liabilities	1,151,358,000	1,059,527,000	'
Equity	'	'	'
Non-controlling interests	587,315,000	789,838,000	'
Investment Manager | Investment Company - consolidated VIEs	'	'	'
Assets	'	'	'
Cash and cash equivalents	16,604,000	0	0
Other assets	920,000	0	'
Receivables from brokers and counterparties	40,825,000	0	'
Investments, at fair value	133,857,000	0	'
Total assets (GAAP)	192,206,000	'	'
Liabilities	'	'	'
Other liabilities	1,477,000	0	'
Due to brokers and counterparties	12,577,000	0	'
Securities sold not yet purchased, at fair value	37,258,000	0	'
Redeemable Non-controlling Interests	34,887,000	0	'
Equity	'	'	'
Non-controlling interests	58,426,000	0	'
Non-Investment Manager	'	'	'
Assets	'	'	'
Cash and cash equivalents	135,063,000	0	0
Other assets	116,893,000	0	'
Fixed assets, net	290,481,000	0	'
Goodwill	125,407,000	0	'
Intangible assets, net	155,133,000	0	'
Total assets (GAAP)	822,977,000	0	'
Liabilities	'	'	'
Debt obligations payable	232,275,000	0	'
Other liabilities	72,179,000	0	'
Deferred revenue	36,125,000	0	'
Total Liabilities	340,579,000	0	'
Equity	'	'	'
Non-controlling interests	$479,516,000	$0	'

CONSOLIDATED_BALANCE_SHEETS_Un1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical)	Sep. 30, 2014	Dec. 31, 2013
Class A Shares	'	'
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	208,004,183	240,741,920
Common stock, shares outstanding	208,004,183	240,741,920
Class B Shares	'	'
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	226,331,513	249,534,372
Common stock, shares outstanding	226,331,513	249,534,372

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Total revenues (GAAP)	$403,760	$232,019	$1,141,239	$699,448
Expenses	'	'	'	'
Total Expenses	397,947	184,051	1,084,312	654,511
Other Income (Loss)	'	'	'	'
Income (Loss) Before Income Taxes	16,355	115,979	103,979	208,291
Income tax benefit (expense)	-6,140	-14,794	-18,638	-42,236
Net Income (Loss)	10,215	101,185	85,341	166,055
Non-controlling Interests in Income (Loss)	10,842	58,804	58,946	111,421
Net Income (Loss) Attributable to Parent	10,215	101,185	85,341	166,055
Dividends declared per Class A share	$0.26	$0.06	$0.42	$0.18
Earnings (Loss) Per Class A share	'	'	'	'
Net income (loss) per Class A share, basic	$0.02	$0.17	$0.18	$0.23
Net income (loss) per Class A share, diluted	$0.02	$0.12	$0.17	$0.21
Weighted average number of Class A shares outstanding, basic	208,014,692	239,404,587	210,874,640	234,750,585
Weighted average number of Class A shares outstanding, diluted	220,792,711	502,091,166	457,019,507	499,562,470
Class A Shares	'	'	'	'
Other Income (Loss)	'	'	'	'
Net Income (Loss) Attributable to Parent	4,438	42,381	38,594	54,634
Investment Company - consolidated VIEs	'	'	'	'
Other Income (Loss)	'	'	'	'
Earnings (losses) from equity method investees	3,200	0	2,974	0
Redeemable noncontrolling interests	-2,042	0	-1,885	0
Investment Manager	'	'	'	'
Revenues	'	'	'	'
Management fees: affiliates	133,674	121,593	397,200	388,957
Management fees: non-affiliates	16,774	15,361	52,112	45,531
Incentive income: affiliates	30,941	40,934	125,634	103,176
Incentive income: non-affiliates	343	1,907	1,030	4,770
Expense reimbursements: affiliates	50,600	49,301	153,448	149,308
Expense reimbursements: non-affiliates	4,869	1,904	9,931	4,752
Other revenues (affiliate portion disclosed in Note 7)	1,302	1,019	4,325	2,954
Total revenues (GAAP)	238,699	232,019	743,924	699,448
Expenses	'	'	'	'
Compensation and benefits	187,249	146,457	543,882	539,591
General, administrative and other	40,855	33,315	120,646	99,970
Depreciation and amortization	4,997	3,501	14,335	10,094
Interest expense	916	778	2,554	4,856
Total Expenses	234,483	184,051	682,102	654,511
Other Income (Loss)	'	'	'	'
Gains (losses)	-19,359	7,503	-26,235	45,578
Tax receivable agreement liability adjustment	-4,036	0	-4,036	-7,739
Earnings (losses) from equity method investees	38,928	60,508	81,750	125,515
Total Other Income (Loss)	10,542	68,011	47,052	163,354
Income tax benefit (expense)	-3,024	-14,794	-16,934	-42,236
Non-controlling Interests in Income (Loss)	10,842	58,804	58,946	111,421
Investment Manager | Class A Shares	'	'	'	'
Other Income (Loss)	'	'	'	'
Net Income (Loss) Attributable to Parent	4,438	42,381	38,594	54,634
Investment Manager | Investment Company - consolidated VIEs	'	'	'	'
Revenues	'	'	'	'
Interest and dividend income	196	0	244	0
Total revenues (GAAP)	196	0	244	0
Expenses	'	'	'	'
Other	466	0	685	0
Other Income (Loss)	'	'	'	'
Gains (losses)	-4,991	0	-4,427	0
Earnings (losses) from equity method investees	'	'	-4,427	'
Non-controlling Interests in Income (Loss)	-9	0	-9	0
Redeemable noncontrolling interests	-2,042	0	-1,885	0
Non-Investment Manager	'	'	'	'
Revenues	'	'	'	'
Advertising	96,761	0	236,434	0
Circulation	49,803	0	118,049	0
Commercial printing and other	18,497	0	42,832	0
Total revenues (GAAP)	165,061	0	397,315	0
Expenses	'	'	'	'
General, administrative and other	54,375	0	130,900	0
Depreciation and amortization	10,854	0	26,201	0
Interest expense	4,519	0	10,813	0
Operating costs	93,716	0	225,249	0
Loss on extinguishment of debt	0	0	9,047	0
Total Expenses	163,464	0	402,210	0
Other Income (Loss)	'	'	'	'
Income tax benefit (expense)	-3,116	0	-1,704	0
Non-controlling Interests in Income (Loss)	($3,014)	$0	($10,305)	$0

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income (loss)	$10,215	$101,185	$85,341	$166,055
Foreign currency translation	'	'	-1,251	'
Comprehensive income (loss) from equity method investees	'	'	0	'
Total comprehensive income (loss)	10,566	101,138	84,090	168,328
Comprehensive income (loss) attributable to non-controlling interests	10,997	58,772	58,081	112,842
Comprehensive income (loss) attributable to Class A shareholders	4,634	42,366	38,208	55,486
Investment Manager	'	'	'	'
Foreign currency translation	351	-46	-1,251	-1,862
Comprehensive income (loss) from equity method investees	0	-1	0	4,135
Investment Manager | Investment Company - consolidated VIEs	'	'	'	'
Comprehensive income (loss) attributable to non-controlling interests	-9	0	-9	0
Comprehensive income (loss) attributable to redeemable non-controlling interests of Investment Company - consolidated VIE	-2,042	0	-1,885	0
Non-Investment Manager	'	'	'	'
Comprehensive income (loss) attributable to non-controlling interests	($3,014)	$0	($10,305)	$0

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) (USD $)

Total

Investment Manager

Class A Shares

Class B Shares

Paid-In Capital

Retained Earnings (Accumulated Deficit)

Accumulated Other Comprehensive Income (Loss)

Total Fortress Shareholdersb Equity

Non-Controlling Interest

Non-Controlling Interest

Non-Controlling Interest

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Non-Investment Manager - consolidated VIE

Non-Investment Manager - consolidated VIE

In Thousands, except Share data, unless otherwise specified

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Non-Investment Manager

Investment Manager

Investment Manager

Non-Controlling Interest

USD ($)

Non-Controlling Interest

USD ($)

USD ($)

USD ($)

Investment Manager

Non-Investment Manager

USD ($)

USD ($)

Equity at Dec. 31, 2013

$1,614,905

'

'

'

$2,112,720

($1,286,131)

($1,522)

$825,067

$789,838

'

'

'

'

'

'

Equity (in shares) at Dec. 31, 2013

'

'

240,741,920

249,534,372

'

'

'

'

'

'

'

'

'

'

'

Increase (Decrease) in Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Contributions for non-controlling interest in equity

'

60,026

'

'

'

'

'

'

'

'

60,026

58,435

58,435

114,850

114,850

Distributions to principalsb and othersb interests in equity (net of tax)

-153,212

'

'

'

'

'

'

'

-153,212

'

'

'

'

'

'

Consolidation of New Media

383,040

'

'

'

'

'

'

'

'

383,040

'

'

'

'

'

Dividends declared

-93,250

'

'

'

-85,181

'

'

-85,181

'

-8,069

'

'

'

'

'

Dividend equivalents accrued in connection with equity-based compensation (net of tax)

-2,807

'

'

'

-1,013

'

'

-1,013

-1,794

'

'

'

'

'

'

Net deferred tax effects resulting from acquisition and exchange of Fortress Operating Group units

3,124

'

'

'

3,033

'

'

3,033

91

'

'

'

'

'

'

Director restricted share grant

660

'

'

'

312

'

'

312

348

'

'

'

'

'

'

Director restricted share grant (in shares)

'

'

89,390

'

'

'

'

'

'

'

'

'

'

'

'

Capital increase related to equity-based compensation, net

37,385

'

'

'

17,592

'

'

17,592

19,793

'

'

'

'

'

'

Capital increase related to equity-based compensation, net (in shares)

'

'

4,538,289

'

'

'

'

'

'

'

'

'

'

'

'

Dilution impact of equity transactions (Note 7)

'

'

'

'

-42,635

'

38

-42,597

42,597

'

'

'

'

'

'

Public offering of Class A shares

186,551

'

'

'

186,551

'

'

186,551

'

'

'

'

'

'

'

Public offering of Class A shares (in shares)

'

'

23,202,859

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of Class A shares (Note 9)

-393,410

'

'

'

'

-164,957

'

-164,957

-228,453

'

'

'

'

'

'

Repurchase of Class A shares (in shares) (Note 9)

'

'

-60,568,275

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase of Class B shares (Note 9)

-186,551

'

'

'

-186,551

'

'

-186,551

'

'

'

'

'

'

'

Repurchase of Class B shares (in shares) (Note 9)

'

'

'

-23,202,859

'

'

'

'

'

'

'

'

'

'

'

Comprehensive income (loss) (net of tax)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss) (excludes $(1.9) million loss allocated to redeemable non-controlling interests)

87,226

'

'

'

'

38,594

0

38,594

58,946

-10,314

'

'

'

'

'

Foreign currency translation

-1,251

-1,251

'

'

'

'

-386

-386

-865

'

'

'

'

'

'

Comprehensive income (loss) from equity method investees

0

0

'

'

0

0

0

0

0

0

'

'

'

'

'

Total comprehensive income (loss)

85,975

'

'

'

'

'

'

38,208

58,081

-10,314

'

'

'

'

'

Equity at Sep. 30, 2014

$1,715,721

'

'

'

$2,004,828

($1,412,494)

($1,870)

$590,464

$587,315

$537,942

'

'

'

'

'

Equity (in shares) at Sep. 30, 2014

'

'

208,004,183

226,331,513

'

'

'

'

'

'

'

'

'

'

'

CONSOLIDATED_STATEMENT_OF_CHAN1

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) (Parenthetical) (Investment Company - consolidated VIEs, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Redeemable noncontrolling interests	($2,042)	$0	($1,885)	$0
Investment Manager	'	'	'	'
Redeemable noncontrolling interests	($2,042)	$0	($1,885)	$0

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities	'	'
Net income (loss)	$85,341	$166,055
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'
Deferred incentive income	-66,778	-50,262
Cash flows due to changes in	'	'
Net cash provided by (used in) operating activities	79,661	332,508
Cash Flows From Investing Activities	'	'
Existing cash on consolidation date	23,845	'
Net cash provided by (used in) investing activities	331,569	214,658
Cash Flows From Financing Activities	'	'
Net cash provided by (used in) financing activities	-291,988	-340,294
Net Increase (Decrease) in Cash and Cash Equivalents	119,242	206,872
Cash and Cash Equivalents, Beginning of Period	364,583	104,242
Cash and Cash Equivalents, End of Period	483,825	311,114
Investment Manager	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'
Depreciation and amortization	14,335	10,094
Other amortization and accretion (included in interest expense)	585	704
(Earnings) losses from equity method investees	-81,750	-125,515
Distributions of earnings from equity method investees	78,337	53,576
(Gains) losses	26,235	-45,578
Deferred incentive income	-66,778	-50,262
Deferred tax (benefit) expense	8,426	53,048
Options received from affiliates	-3,346	-36,470
Tax receivable agreement liability adjustment	4,036	7,739
Equity-based compensation	29,584	28,648
Options in affiliates granted to employees	759	7,757
Other	-653	633
Cash flows due to changes in	'	'
Due from affiliates	-11,197	-88,276
Other assets	32,307	1,950
Accrued compensation and benefits	-81,405	204,718
Due to affiliates	-21,685	5,737
Deferred incentive income	99,553	105,753
Other liabilities	36,437	32,197
Cash Flows From Investing Activities	'	'
Contributions to equity method investees	-21,487	-25,885
Distributions of capital from equity method investees	368,373	257,829
Purchase of securities	-14,936	-19,460
Proceeds from sale of equity securities	83,039	9,951
Purchase of fixed assets	-7,631	-7,777
Purchase of software and technology-related assets	-25,976	0
Cash Flows From Financing Activities	'	'
Repayments of debt obligations	-50,000	-149,453
Borrowings under debt obligations	125,000	0
Payment of debt issuance costs	0	-2,367
Proceeds from public offering	186,551	0
Dividends and dividend equivalents paid	-88,617	-43,168
Principalsb and othersb interests in equity of consolidated subsidiaries - contributions	600	391
Principalsb and othersb interests in equity of consolidated subsidiaries - distributions	-152,686	-145,697
Excess tax benefits from delivery of RSUs	3,030	0
Cash and Cash Equivalents, Beginning of Period	364,583	'
Cash and Cash Equivalents, End of Period	332,158	311,114
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest	1,292	3,586
Cash paid during the period for income taxes	4,207	2,990
Supplemental Schedule of Non-cash Investing and Financing Activities	'	'
Employee compensation invested directly in subsidiaries	59,285	52,105
Investments of incentive receivable amounts into Fortress Funds	256,993	206,455
Dividends, dividend equivalents and Fortress Operating Group unit distributions declared but not yet paid	0	3,255
Investment Manager | Class B Shares	'	'
Cash Flows From Financing Activities	'	'
Repurchase of shares	-186,551	0
Investment Manager | Class A Shares	'	'
Cash Flows From Financing Activities	'	'
Repurchase of shares	-363,410	0
Non-Investment Manager	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'
Depreciation and amortization	26,201	0
Loss on extinguishment of debt	5,949	0
Other amortization and accretion (included in interest expense)	708	0
Deferred tax (benefit) expense	1,704	0
Other	462	0
Cash flows due to changes in	'	'
Other assets	239	0
Deferred revenue	-439	0
Accrued expenses and other liabilities	-1,016	0
Cash Flows From Investing Activities	'	'
Purchase of fixed assets	-2,550	0
Existing cash on consolidation date	23,845	0
Acquisitions, net of cash acquired	-71,822	0
Other	714	0
Cash Flows From Financing Activities	'	'
Repayments of debt obligations	-185,989	0
Borrowings under debt obligations	239,840	0
Payment of debt issuance costs	-2,505	0
Payments of Dividends	-8,069	0
Proceeds from public offering	116,130	0
Dividends and dividend equivalents paid	-8,069	'
Principalsb and othersb interests in equity of consolidated subsidiaries - distributions	-185,989	'
Cash and Cash Equivalents, Beginning of Period	0	'
Cash and Cash Equivalents, End of Period	135,063	0
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest	8,763	0
Investment Company - consolidated VIEs	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'
(Earnings) losses from equity method investees	-2,974	0
Investment Company - consolidated VIEs | Investment Manager	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'
(Earnings) losses from equity method investees	4,427	'
(Gains) losses	4,427	0
Cash flows due to changes in	'	'
Purchases of investments and payments to cover securities sold not yet purchased	-458,794	0
Proceeds from sale of investments and securities sold not yet purchased	386,242	0
Receivables from brokers and counterparties	40,825	0
Other assets	-9,362	0
Due to brokers and counterparties	12,577	0
Other liabilities	2,467	0
Cash Flows From Financing Activities	'	'
Redeemable non-controlling interests - contributions	16,253	0
Non-redeemable non-controlling interests in Investment Company - contributions	58,435	0
Cash and Cash Equivalents, Beginning of Period	0	'
Cash and Cash Equivalents, End of Period	16,604	0
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest	208	0
Supplemental Schedule of Non-cash Investing and Financing Activities	'	'
Non-cash redeemable non-controlling interests - contributions	$20,519	$0

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION AND BASIS OF PRESENTATION	'
	ORGANIZATION AND BASIS OF PRESENTATION
	Investment Manager
	Fortress Investment Group LLC (the “Registrant,” or, together with its subsidiaries, “Fortress”) is a leading, highly diversified global investment management firm whose predecessor was founded in 1998. Its primary business is to sponsor the formation of, and provide investment management services for, various investment funds and companies, including related managed accounts (collectively, the “Fortress Funds”). Fortress generally makes investments in these funds.
	Fortress has three primary sources of income from the Fortress Funds: management fees, incentive income, and investment income on its investments in the funds. In the third quarter of 2014, Fortress reorganized its segments (see Note 11). The Fortress Funds fall into the following business segments in which Fortress operates:
	1)	Private equity:
	a)    General buyout and sector-specific funds focused on control-oriented investments in cash flow generating assets and asset-based businesses in North America and Western Europe; and
	b)    Entities which Fortress collectively refers to as "permanent capital vehicles" which includes (i) publicly traded companies that are externally managed by Fortress pursuant to management agreements (the "publicly traded permanent capital vehicles") and (ii) a private fund (the "private permanent capital vehicle"). The publicly traded permanent capital vehicles invest in a wide variety of real estate related assets, including securities, loans, real estate properties and mortgage servicing related assets and media assets and the private permanent capital vehicle invests in transportation and infrastructure assets. Fortress expects the private fund will become a publicly traded company externally managed by Fortress.
	2)	Liquid hedge funds that invest globally in fixed income, currency, equity and commodity markets, and related derivatives to capitalize on imbalances in the financial markets. In addition, this segment includes an endowment style fund, which invests in Fortress Funds, funds managed by external managers, and direct investments; a fund that primarily focuses on an international "event driven" investment strategy, particularly in Europe, Asia-Pacific and Latin America; and a fund that seeks to generate returns by executing a positively convex investment strategy.
	In January 2014, Fortress announced that it is launching an affiliated manager platform. The first fund to join the new platform will be the Fortress Asia Macro Funds. Pending certain regulatory approvals, over the course of 2014, the Fortress Asia Macro Funds and related managed accounts will be transitioned to Graticule Asset Management Asia, L.P. ("Graticule Asset Management"), a new asset management business in which Fortress will have a non-controlling equity interest. Fortress will retain a perpetual minority interest in Graticule Asset Management amounting up to approximately 42.5% of earnings during 2014 and declining to approximately 27% of earnings over time. Fortress expects to receive additional fees for providing infrastructure services (technology, back office, and other services) to Graticule Asset Management. Upon completing the transition, Fortress will record this interest at its fair value, and expects to record a resulting gain and related compensation expense.
	In January 2014, Fortress acquired software and technology-related assets which were accounted for as a business combination. These assets facilitate trading within Fortress's liquid hedge funds segment. The purchase price was $26.0 million and has all been allocated to the acquired software and technology related assets which have an expected useful life of five years.
	3)	Credit funds:
	a)	Credit hedge funds, which make highly diversified investments in direct lending, corporate debt and securities, portfolios and orphaned assets, real estate and structured finance, on a global basis and throughout the capital structure, with a value orientation, as well as non-Fortress originated funds for which Fortress has been retained as manager as part of an advisory business; and
	b)            Credit private equity (“PE”) funds which are comprised of a family of “credit opportunities” funds focused on investing in distressed and undervalued assets, a family of ''long dated value'' funds focused on investing in undervalued assets with limited current cash flows and long investment horizons, a family of “real assets” funds focused on investing in tangible and intangible assets in four principal categories (real estate, capital assets, natural resources and intellectual property), a family of Asia funds, including Japan real estate funds and an Asian investor based global opportunities fund, and a family of real estate opportunities funds, as well as certain sector-specific funds with narrower investment mandates tailored for the applicable sector.
	4)	Logan Circle Partners, L.P. (“Logan Circle”), which represents Fortress's traditional asset management business providing institutional clients actively managed investment solutions across a broad spectrum of fixed income and growth equity strategies. Logan Circle's core fixed income products cover the breadth of the maturity and risk spectrums, including short, intermediate and long duration, core/core plus, investment grade credit, high yield and emerging market debt. In April 2013, Logan Circle launched a growth equities investment business focused on investing and managing concentrated portfolios of publicly traded U.S. equities.
	Investment Company - Consolidated VIEs
	In 2014, Fortress formed a new liquid hedge fund and new private equity fund. Fortress determined that these funds qualify as variable interest entities and that it was the primary beneficiary and therefore consolidates these funds. For the new liquid hedge fund, the fund's unrelated limited partners or members have the substantive ability to liquidate the fund or otherwise remove Fortress as general partner or managing member without cause based on a simple unaffiliated majority vote. The new liquid hedge fund also allows investors to redeem their interests on a periodic basis at their net asset value. Fortress expects to deconsolidate the liquid hedge fund when sufficient third party capital is raised.
	During the second quarter of 2014, certain credit hedge funds formed new investment vehicles. Fortress is the sub-advisor to the new entities but does not have a direct interest in the entities. Fortress determined that these investment vehicles qualify as variable interest entities and that it was the primary beneficiary and therefore consolidates the entities. The investment vehicles entered into a warehouse financing agreement with a third party lender which has agreed to lend the investment vehicles up to €300.0 million. As of September 30, 2014, the investment vehicles did not hold any assets or have any debt outstanding. Any debt obligations of the investment vehicles would not be cross collateralized with the debt obligations of the Investment Manager. Fortress has no obligation to satisfy the liabilities of the investment vehicles. Similarly, Fortress does not have the right to make use of the assets of the investment vehicles to satisfy its obligations. Any debt obligations of the investment vehicles would not have an impact on the Investment Manager's cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.
	Under U.S. generally accepted accounting principles ("GAAP"), the funds and investment vehicles referred to above are investment companies and, as required, Fortress has retained the specialized accounting of these entities. Consequently, Fortress’s financial statements include the assets, liabilities, related operations and cash flows of these consolidated entities (collectively, the "Investment Company"). The ownership interests in the Investment Company which are not owned by Fortress and which are redeemable by an investor are reflected as Redeemable Non-controlling Interests in the accompanying consolidated financial statements.
	The following table represents the activity in Redeemable Non-controlling Interests as presented in the consolidated balance sheets:
		Nine Months Ended September 30, 2014
	Beginning balance	$	—
	Capital contributions	36,772
	Redeemable Non-controlling Interests in income (loss) of Investment Company	(1,885		)
		$	34,887
	The assets, liabilities, related operations and cash flows of Fortress’s asset management business and the Investment Company (as described above) are disclosed under the Investment Manager caption in the consolidated financial statements and accompanying footnotes; the consolidated Investment Company's related amounts are included under the Investment Company caption. Fortress also consolidates New Media (as described below) whose assets, liabilities, related operations and cash flows are disclosed under the Non-Investment Manager caption in the consolidated financial statements and accompanying footnotes. The management fees and incentive income earned by Fortress from New Media and the Investment Company (if any) are eliminated in consolidation; however, Fortress’s allocated share of the net income from New Media and the Investment Company are increased by the amount of these eliminated fees. Accordingly, the consolidation of New Media and the Investment Company have no material effect on Fortress’s earnings from New Media and the Investment Company. For a reconciliation between the financial statements and the segment-based financial data that management uses for making operating decisions and assessing performance, see Note 11.
	Fortress has no obligation to satisfy the liabilities of New Media or the Investment Company. Similarly, Fortress does not have the right to make use of New Media or the Investment Company's assets to satisfy its obligations.
	Non-Investment Manager
	Consolidation of New Media
	On February 14, 2014, Newcastle Investment Corp. ("Newcastle") (NYSE: NCT) completed the distribution of all of the common shares it held of New Media Investment Group Inc. ("New Media" or the "Media Business") (NYSE: NEWM), publishers of locally based print and online media in the United States, to its stockholders. Fortress entered into a management agreement with New Media and under the terms of the management agreement, Fortress manages the operations of New Media and in return receives a management fee of 1.5% per annum of New Media's Total Equity (as defined in the management agreement) and incentive income. In addition to these fees, in order to compensate Fortress for its successful efforts in raising capital for New Media, Fortress receives options to purchase shares of New Media's common stock in connection with each common stock offering. Fortress determined that New Media qualifies as a variable interest entity and, upon completion of Newcastle's distribution of New Media's common shares, that it was the primary beneficiary and therefore consolidates New Media. The operations of New Media consist of the consolidated operations of GateHouse Media, LLC ("GateHouse") and Local Media Group Holdings LLC ("Local Media"). Although New Media’s operating results impact net income, they do not have a material impact on the net income (loss) attributable to Fortress’s Class A shareholders, Class A basic and diluted earnings per share, or total Fortress’s shareholders’ equity, as substantially all of the operating results of New Media are attributable to non-controlling interests. As of September 30, 2014, Fortress owned approximately 0.20% of New Media’s outstanding common stock.
	The fiscal year of New Media ends on the Sunday closest to December 31.  Fiscal year 2014 includes 52 weeks.  New Media's third fiscal quarter ended on September 28, 2014, as such, all references to September 30, 2014 reflect New Media's interim consolidated financial statements as of September 28, 2014, for the three months ended September 28, 2014 or for the period from February 14, 2014 to September 28, 2014, as applicable.
	New Media is one of the largest publishers of locally based print and online media in the United States as measured by the number of daily publications. New Media operates in 372 markets across 27 states. New Media’s portfolio of products includes 450 community publications, 372 websites, 365 mobile sites, and six yellow page directories. New Media reaches over 14 million people per week and serves over 130,000 business customers.
	For accounting purposes, the consolidation of New Media was treated as a business combination. The New Media assets and liabilities were recorded at their estimated fair values as of the date of consolidation. Any excess estimated New Media fair value was allocated to goodwill.
	Significant assumptions used in estimating fair values included the following:
	•	Intangible assets - The estimated fair values of the acquired subscriber relationships, advertiser relationships and customer relationships were determined based on an excess earnings approach, a form of the income approach, which values assets based upon associated estimated discounted cash flows.
	Masthead, which is a publication's designed title or nameplate as it appears on its front page, fair values were determined based on a relief from royalty method, an income approach.
	•	Fixed assets - The estimated fair values for fixed assets were determined under three approaches: the cost approach (used for equipment where an active secondary market is not available and building improvements), the direct sales comparison (market) approach (used for land and equipment where an active market is available), and the income approach (used for intangibles). These approaches are based on the cost to reproduce assets, market exchanges for comparable assets and the capitalization of income.
	The following table summarizes the allocation of the estimated New Media fair value to identifiable assets and liabilities as of the date of consolidation:
		As of February 14, 2014
	Cash and cash equivalents	$	23,845
	Fixed assets	266,385
	Goodwill	118,847
	Intangibles assets	144,664
	Other assets	108,072
	Total assets	661,813
	Less:
	Debt obligations payable	(177,955		)
	Accrued expenses and other liabilities	(99,858		)
	Net assets	$	384,000
	Non-controlling interests in equity of New Media	$	383,040
	During the period from February 14, 2014 to September 30, 2014, New Media completed four acquisitions of regional media assets (which include publications and newspapers) for a total purchase price of $72.2 million. The related assets and liabilities were recorded at their estimated fair values as of the date of each acquisition.
	If New Media and its related acquisitions had been consolidated as of January 1, 2013, total revenue would have increased by approximately $14.8 million and $186.1 million for the three months ended September 30, 2014 and 2013, respectively, and $140.1 million and $553.2 million for the nine months ended September 30, 2014 and 2013, respectively. In addition, net income would have increased by $0.2 million for the three months ended September 30, 2014 and decreased by $137.8 million for the three months ended September 30, 2013, and decreased by $24.5 million and $210.3 million for the nine months ended September 30, 2014 and 2013, respectively.
	FINANCIAL STATEMENT GUIDE
	Selected Financial Statement Captions		Note Reference		Explanation
	Balance Sheet
	Due from Affiliates		7		Generally, management fees, expense reimbursements and incentive income due from Fortress Funds.
	Investments and Investments in Options		4		Primarily the carrying value of Fortress’s investments in the Fortress Funds. Also includes investments, at fair value of the Investment Company which Fortress consolidates.
	Deferred Tax Asset, net		6		Relates to potential future net tax benefits.
	Due to Affiliates		7		Generally, amounts due to the Principals related to their interests in Fortress Operating Group and the tax receivable agreement.
	Deferred Incentive Income		3		Incentive income already received from certain Fortress Funds based on past performance, which is subject to contingent repayment based on future performance.
	Debt Obligations Payable		5		The balance outstanding on the Investment Manager's and New Media's credit agreements.
					The debt obligations of New Media and the Investment Company are not cross collateralized with the debt obligations of Fortress. Fortress has no obligation to satisfy the liabilities of New Media or the Investment Company. Similarly, Fortress does not have the right to make use of New Media or the Investment Company's assets to satisfy its obligations.
					New Media and the Investment Company’s debt obligations have no impact on Fortress's cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.
	Principals' and Others' Interests in Equity of Consolidated Subsidiaries		7		The GAAP basis of the Principals' and one senior employee's ownership interests in Fortress Operating Group as well as employees' ownership interest in certain subsidiaries.
Statement of Operations
Management Fees: Affiliates		3		Fees earned for managing Fortress Funds, generally determined based on the size of such funds.
Management Fees: Non-Affiliates		3		Fees earned from managed accounts and our traditional fixed income asset management business, generally determined based on the amount managed.
Incentive Income: Affiliates		3		Income earned from Fortress Funds, based on the performance of such funds.
Incentive Income: Non- Affiliates		3		Income earned from managed accounts, based on the performance of such accounts.
Compensation and Benefits		8		Includes equity-based, profit-sharing and other compensation to employees.
Gains (Losses)		4		The result of asset dispositions or changes in the fair value of investments or other financial instruments which are marked to market (including the publicly traded permanent capital vehicles and publicly traded portfolio companies).
Tax Receivable Agreement Liability Adjustment		6		Represents a change in the amount due to the Principals under the tax receivable agreement.
Earnings (Losses) from Equity Method Investees		4		Fortress’s share of the net earnings (losses) of the Fortress Funds resulting from its investments in these funds.
FINANCIAL STATEMENT GUIDE
Selected Financial Statement Captions		Note Reference		Explanation
Income Tax Benefit (Expense)		6		The net tax result related to the current period. Certain of Fortress’s revenues are not subject to taxes because they do not flow through taxable entities. Furthermore, Fortress has significant permanent differences between its GAAP and tax basis earnings.
				Income tax benefit (expense) for the Investment Manager and Media Business are calculated separately and the taxable income (loss) of the Media Business does not impact the amount of income tax benefit (expense) for the Investment Manager (and vice versa).
Principals’ and Others’ Interests in (Income) Loss of Consolidated Subsidiaries		7		Primarily the Principals’ and employees’ share of Fortress’s earnings based on their ownership interests in subsidiaries, including Fortress Operating Group.
Earnings Per Share		9		GAAP earnings per Class A share based on Fortress’s capital structure, which is comprised of outstanding and unvested equity interests, including interests which participate in Fortress’s earnings, at both the Fortress and subsidiary levels.
Other
Distributions		9		A summary of dividends and distributions, and the related outstanding shares and units, is provided.
Distributable Earnings		11		A presentation of our financial performance by segment (fund type) is provided, on the basis of the operating performance measure used by Fortress’s management committee.
In May 2014, the FASB issued a comprehensive new revenue recognition standard for contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. This standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The entity will recognize revenue to reflect the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The new standard is effective for Fortress beginning January 1, 2017 and early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. Fortress is currently evaluating the impact on its consolidated financial statements upon the adoption of this new standard.
In August 2014, the FASB issued an accounting standard update on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity ("CFE"). The standard provides an entity with an election to measure the financial assets and financial liabilities of a consolidated CFE to be measured on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is more observable. The effective date of the consensus will be for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption will be permitted. Fortress is currently evaluating the impact on its consolidated financial statements.
The FASB has recently issued or discussed a number of proposed standards on such topics as consolidation, financial statement presentation, leases, financial instruments and hedging. Some of the proposed changes are significant and could have a material impact on Fortress’s financial reporting. Fortress has not yet fully evaluated the potential impact of these proposals, but will make such an evaluation as the standards are finalized.
The accompanying consolidated financial statements and related notes of Fortress have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared under GAAP have been condensed or omitted. In the opinion of management, all adjustments considered necessary for a fair presentation of Fortress’s financial position, results of operations and cash flows have been included and are of a normal and recurring nature. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. These financial statements should be read in conjunction with Fortress’s consolidated financial statements for the year ended December 31, 2013 and notes thereto included in Fortress’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2014.  Certain disclosures have been expanded to include information related to the consolidation of New Media (as described above) in accordance with GAAP. Capitalized terms used herein, and not otherwise defined, are defined in Fortress’s consolidated financial statements for the year ended December 31, 2013.
All significant intercompany accounts and transactions have been eliminated.
Certain prior period amounts have been reclassified to conform to the current period's presentation.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	General
	Basis of Accounting and Consolidation - The accompanying consolidated financial statements have been prepared in accordance with GAAP. The accompanying financial statements include the accounts of Fortress and its consolidated subsidiaries, which are comprised of (i) entities in which it has an investment of 50% or more and has control over significant operating, financial and investing decisions of the entity, (ii) variable interest entities (“VIEs”) in which it is the primary beneficiary as described below and (iii) non-VIE partnerships in which it is the general partner where the limited partners do not have rights that would overcome the presumption of control by the general partner.
	For those entities in which it has a variable interest, Fortress first determines whether the entity is a VIE. This determination is made by considering whether the entity’s equity investment at risk is sufficient and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary.
	The primary beneficiary of a VIE is generally defined as the party who, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance, and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously.
	For investment companies and similar entities, the primary beneficiary of a VIE is the party who, considering the involvement of related parties and de facto agents, absorbs a majority of the VIE's expected losses or receives a majority of the expected residual returns, as a result of holding a variable interest. This evaluation is also updated continuously.
	As the general partner or managing member of entities that are limited partnerships or limited liability companies and not VIEs, Fortress is presumed to control the partnership or limited liability company. This presumption is overcome when the unrelated limited partners or members have the substantive ability to liquidate the entity or otherwise remove Fortress as the general partner or managing member without cause based on a simple unaffiliated majority vote, or have other substantive participating rights.
	Redeemable Non-controlling Interests represent the ownership interests in the Investment Company which are redeemable by an investor and not owned by Fortress.
	Non-controlling interests in equity of Investment Company represents the ownership interests in the Investment Company which are not redeemable and are held by entities or persons other than Fortress.
	Principals’ and others’ interests in consolidated subsidiaries represent the ownership interests in certain consolidated subsidiaries held by entities or persons other than Fortress. This is primarily related to the Principals’ interests in Fortress Operating Group (Note 1). Non-Fortress interests also include employee interests in majority owned and controlled fund advisor and general partner entities.
	Non-controlling interests in equity of Non-Investment Manager represent the interests in New Media that are not owned by Fortress.
	For entities over which Fortress exercises significant influence but which do not meet the requirements for consolidation, Fortress uses the equity method of accounting whereby it records its share of the underlying income of these entities. These entities include the Fortress Funds. Virtually all of the Fortress Funds are, for GAAP purposes, investment companies. As required, Fortress has retained the specialized accounting of these funds. The Fortress Funds record realized and unrealized gains (losses) resulting from changes in the fair value of their investments as a component of current income. Additionally, these funds generally do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”).
	Distributions by Fortress and its subsidiaries are recognized when declared.
	Risks and Uncertainties - In the normal course of business, Fortress encounters primarily two significant types of economic risk: credit and market. Credit risk is the risk of default on Fortress’s or the Fortress Funds’ investments in debt securities, loans, leases, derivatives and other financial instruments that results from a borrower's, lessee’s or counterparty's inability or unwillingness to make required or expected payments. Market risk reflects changes in the value of investments due to changes in interest rates, credit spreads or other market factors. Credit risk is enhanced in situations where Fortress or a Fortress Fund is investing in distressed assets, as well as unsecured or subordinate loans or securities, which is a material part of its business.
	Fortress makes investments outside of the United States. Fortress’s non-U.S. investments are subject to the same risks associated with its U.S. investments as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing non-U.S. investments, potentially adverse tax consequences and the burden of complying with a wide variety of foreign laws.
	Fortress is exposed to economic risk concentrations insofar as it is dependent on the ability of the Fortress Funds to compensate it for the services which Fortress provides to these funds. Further, the incentive income component of this compensation is based on the ability of the Fortress Funds to generate adequate returns on their investments. In addition, substantially all of Fortress’s net assets, after deducting the portion attributable to non-controlling interests, are comprised of Fortress's investments in, or receivables from, these funds.
	Use of Estimates - The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.
	Revenue Recognition
	Investment Manager
	Management Fees and Expense Reimbursements - Management fees are recognized in the periods during which the related services are performed and the amounts have been contractually earned. Fortress is entitled to certain expense reimbursements pursuant to its management agreements. Fortress selects the vendors, incurs the expenses, and is the primary obligor under the related arrangements. Fortress is considered the principal under these arrangements and is required to record the expense and related reimbursement revenue on a gross basis. Expense reimbursements are recognized in the periods during which the related expenses are incurred and the reimbursements are contractually earned.
	Stock Options Received - Fully vested stock options are issued to Fortress by certain of the publicly traded permanent capital vehicles as compensation for services performed in raising capital for these entities. These options are recognized by Fortress as management fees at their estimated fair value at the time of issuance. Fair value was estimated using an option valuation model. Since the publicly traded permanent capital vehicles' option plans have characteristics significantly different from those of traded options, and since the assumptions used in such models, particularly the volatility assumption, are subject to significant judgment and variability, the actual value of the options could vary materially from this estimate. Fortress has elected to account for these options at fair value with changes in fair value recognized in current income as Gains (Losses).
	Incentive Income - Incentive income is calculated as a percentage of the profits earned by the Fortress Funds subject, in certain cases, to the achievement of performance criteria. Incentive income from certain funds is subject to contingent repayment based on the applicable Fortress Fund achieving earnings in excess of a specified minimum return. Incentive income that is not subject to contingent repayment is recognized as contractually earned. Incentive income subject to contingent repayment may be paid to Fortress as particular investments made by the funds are realized. However, if upon liquidation of each fund the aggregate amount paid to Fortress as incentive income exceeds the amount actually due to Fortress based upon the aggregate performance of each fund, the excess is required to be repaid by Fortress (i.e. “clawed back”) to that fund. Fortress has elected to adopt the preferred method of recording incentive income subject to contingencies, whereby it does not recognize incentive income subject to contingent repayment until the termination of the related fund, or when and to the extent distributions from the fund exceed the point at which a clawback of a portion or all of the historic incentive income distributions could no longer occur due to the related contingencies being resolved. Recognition of incentive income allocated or paid to Fortress prior to that date is deferred and recorded as deferred incentive income liability.
	Other Revenues and Other Income - Fortress recognizes security transactions on the trade date. Gains and losses are recorded based on the specific identification method and generally include gains (losses) on investments in securities, derivatives, foreign exchange transactions, and contingent consideration accrued in business combinations. Dividend income is recognized on the ex-dividend date, or in the absence of a formal declaration, on the date it is received. Interest income is recognized as earned on an accrual basis.
	Non-Investment Manager
	Media Revenues - Advertising income from the publication of newspapers is recognized when advertisements are published in newspapers or placed on digital platforms or, with respect to certain digital advertising, each time a user either clicks on or views certain ads, net of commissions and provisions for estimated sales incentives including rebates, rate adjustments, and discounts.
	Circulation revenue includes single-copy and subscription revenues. Circulation income is based on the number of copies of the printed newspaper (through home-delivery subscriptions and single-copy sales) and digital subscriptions sold and the rates charged to the respective customers. Single-copy income is recognized based on date of publication, net of provisions for related returns. Proceeds from subscription income are deferred at the time of sale and are recognized in earnings on a pro rata basis over the terms of the subscriptions.
	Other revenue is recognized when the related service or product has been delivered.
	Billings to clients and payments received in advance of the performance of services or delivery of products are recorded as deferred revenue in the consolidated balance sheets until the services are performed or the product is delivered.
	Balance Sheet Measurement
	Investment Manager
	Cash and Cash Equivalents - Fortress considers all highly liquid short term investments with maturities of 90 days or less when purchased to be cash equivalents. Substantially all amounts on deposit with major financial institutions exceed insured limits.
	Cash and Cash Equivalents, Investment Company - Cash held at the Investment Company that is not available to fund the general liquidity needs of Fortress as Investment Manager.
	Due from/to Affiliates - For purposes of classifying amounts, Fortress considers its principals, employees, all of the Fortress Funds, and the Portfolio Companies to be affiliates. This definition is broader than the strict GAAP definition of affiliates. Amounts due from and due to affiliates are recorded at their contractual amount, subject to an allowance for uncollectible amounts if collection is not deemed probable.
	Other Assets and Other Liabilities:
	Other assets are presented net of allowances for uncollectible amounts of $2.3 million as of September 30, 2014 and $3.3 million as of December 31, 2013, respectively, and changes thereto were recorded as General and Administrative expense. Other assets and liabilities are comprised of the following:
	-	Fixed Assets, Depreciation and Amortization - Fixed assets consist primarily of leasehold improvements, furniture, fixtures and equipment, and computer hardware and software, and are recorded at cost less accumulated depreciation. Depreciation and amortization are calculated using the straight-line method over the assets’ estimated useful lives, which are the life of the related lease for leasehold improvements, and three to seven years for other fixed assets.
	-	Deferred Charges - Deferred charges consist primarily of costs incurred in obtaining financing, which are amortized over the term of the financing generally using the effective interest method.
	-	Equity Securities - Equity securities consist primarily of investments in unaffiliated publicly traded companies, which are valued based on quoted market prices.
	-	Digital Currency (Bitcoin) - Represents Fortress's holdings of digital currency which is recorded at the lower of cost or fair value. If fair value is below cost, Fortress records an unrealized loss measured as the excess of cost over fair value of the digital currency. Subsequently, to the extent that fair value increases, Fortress records an unrealized gain but shall not report digital currency above cost. Fortress determines fair value based on estimated exit value using significant observable inputs as of the balance sheet date. During the three months ended September 30, 2014, Fortress recognized an impairment charge of $11.5 million. From purchase date through June 30, 2014, Fortress recorded a cumulative unrealized loss of $6.0 million and a $5.5 million loss in the third quarter of 2014.
	-	Prepaid Compensation - Prepaid compensation consists of profit sharing compensation payments previously made to employees which are not considered probable of being incurred as expenses and would become receivable back from employees at the termination of the related funds.
	-	Goodwill and Intangibles - Goodwill and intangibles represent amounts recorded in connection with business combinations. Goodwill is not amortized but is tested for impairment at least annually. Other intangible assets are amortized over their estimated useful lives.
	-	Deferred Rent - Rent expense is recognized on a straight-line basis based on the total minimum rent required throughout the lease period. Deferred rent represents the difference between the rent expense recognized and cash paid to date.
	-	Derivatives and Hedging Activities - All derivatives are recognized as either assets or liabilities in the balance sheet and measured at fair value. Any unrealized gains or losses on derivatives not designated as hedges are recorded in Gains (Losses). Net payments under these derivatives are similarly recorded, but as realized. Fortress did not have any derivatives designated as hedges for the nine months ended September 30, 2014 and 2013.
	Derivatives, Investment Company - Derivatives held by the Investment Company are entered into as part of its trading and investment strategy. These derivatives are measured at fair value and any changes in fair value are recorded in Investment Company Gains (Losses). Derivative assets held by the Investment Company are included in Investments, at fair value and derivative liabilities are included in Other Liabilities. Derivatives can be exchange-traded or over the counter ("OTC") contracts. Derivatives include options, swap contracts, forward foreign currency contracts and futures contracts.
	Receivables from/Due to Brokers and Counterparties, Investment Company - Securities transactions of the Investment Company are primarily maintained, cleared and held by registered U.S. broker-dealers pursuant to prime broker account agreements.  As of September 30, 2014, the receivables from/due to brokers balances in the consolidated balance sheets include cash at and due to brokers and the net receivable/payable for investment transactions pending settlement.  The cash at brokers includes proceeds received from securities sold, not yet purchased which is subject to certain restrictions until the securities are purchased.  Substantially all investments owned are held as collateral by the brokers against various margin obligations and as collateral for securities sold, not yet purchased.  The cash at brokers earns interest at the prevailing market rates.
	Securities Sold Not Yet Purchased, At Fair Value, Investment Company - These are securities that the Investment Company sold but did not own prior to the sale. In order to facilitate short sales, the Investment Company borrows securities from another party and delivers them to the buyer. The Investment Company is required to "cover" short sales by purchasing securities in the market at the prevailing market prices and delivering them to the counterparties from which it borrowed. The Investment Company is exposed to losses to the extent that the security price increases during the time from when the Investment Company borrows the securities to when it purchases them in the market to cover the short sales. Changes in the value of these securities are reflected as gains (losses) in the accompanying consolidated statements of operations.
	Comprehensive Income (Loss) - Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. For Fortress’s purposes, comprehensive income represents net income, as presented in the accompanying consolidated statements of operations, adjusted for unrealized gains or losses on securities available for sale and on derivatives designated as cash flow hedges, as well as net foreign currency translation adjustments, including Fortress’s relative share of these items from its equity method investees.
	Foreign Currency - Assets and liabilities relating to foreign investments are translated using the exchange rates prevailing at the end of each reporting period. Results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included in current income to the extent that unrealized gains and losses on the related investment are included in income, otherwise they are included as a component of accumulated other comprehensive income until realized. Foreign currency gains or losses resulting from transactions outside of the functional currency of a consolidated entity are recorded in income as incurred and were not material during the nine months ended September 30, 2014 and 2013.
	Profit Sharing Arrangements - Pursuant to employment arrangements, certain of Fortress’s employees are granted profit sharing interests and are thereby entitled to a portion of the incentive income or other amounts realized from certain Fortress Funds, which is payable upon a realization event within the respective funds. Accordingly, incentive income resulting from a realization event within a fund gives rise to the incurrence of a profit sharing obligation. Amounts payable under these profit sharing plans are recorded as compensation expense when they become probable and reasonably estimable.
	For profit sharing plans related to hedge funds, where incentive income is received on an annual basis, the related compensation expense is accrued during the period for which the related payment is made.
	For profit sharing plans related to private equity funds, the private permanent capital vehicle and credit PE funds, where incentive income is received as investments are realized but is subject to clawback (see “Incentive Income” above), although Fortress defers the recognition of incentive income until all contingencies are resolved, accruing expense for employee profit sharing is based upon when it becomes probable and reasonably estimable that incentive income has been earned and therefore a profit sharing liability has been incurred. Based upon this policy, the recording of an accrual for profit sharing expense to employees generally precedes the recognition of the related incentive income revenue.
	Fortress's determination of the point at which it becomes probable and reasonably estimable that incentive income will be earned and therefore a corresponding profit sharing expense should be recorded is based upon a number of factors, the most significant of which is the level of realized gains generated by the underlying funds which may ultimately give rise to incentive income payments. Accordingly, profit sharing expense is generally recorded upon realization events within the underlying funds. A realization event has occurred when an investment within a fund generates proceeds in excess of its related invested capital, such as when an investment is sold at a gain. In some cases, this accrual is subject to reversal based on a determination that the expense is no longer probable of being incurred (in other words, that a clawback is probable).
	Fortress may withhold a portion of the profit sharing payments relating to private equity fund, private permanent capital vehicle or credit PE fund incentive income as a reserve against contingent repayment (clawback) obligations to the funds. Employees may opt to have these withheld amounts invested in either a money market account or in one of a limited group of Fortress Funds.
	Equity-Based Compensation - Fortress currently has several categories of equity-based compensation, which are accounted for as described in Note 8. Generally, the grant date fair value of equity-based compensation granted to employees or directors is expensed ratably over the required service period (or immediately if there is no required service period). Equity-based compensation granted to non-employees, primarily to employees of certain Portfolio Companies, is expensed ratably over the required service period based on its fair value at each reporting date.
	Income Taxes - FIG Corp., a subsidiary of the Registrant, is a corporation for tax purposes. As a result, a substantial portion of Fortress’s income earned by FIG Corp. is subject to U.S. federal and state income taxation, taxed at prevailing rates. The remainder of Fortress’s income is allocated directly to its shareholders and is not subject to a corporate level of taxation. Certain subsidiaries of Fortress are subject to the New York City unincorporated business tax (“UBT”) on their U.S. earnings based on a statutory rate of 4%. Certain subsidiaries of Fortress are subject to income tax of the foreign countries in which they conduct business. Interest and penalties, if any, are treated as additional taxes.
	Fortress accounts for these taxes using the liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These temporary differences are expected to result in taxable or deductible amounts in future years and the deferred tax effects are measured using enacted tax rates and laws that will be in effect when such differences are expected to reverse. A valuation allowance is established when management believes it is more likely than not that a deferred tax asset will not be realized.
	Fortress is party to a tax receivable agreement whereby the Principals will receive payments from Fortress related to tax savings realized by Fortress in connection with certain transactions entered into by the Principals.
	Non-Investment Manager
	Purchase Accounting - In determining the allocation of the purchase price between net tangible and intangible assets and liabilities, management made estimates of the fair value of the tangible and intangible assets and liabilities using information obtained as a result of pre-acquisition due diligence and independent valuations and appraisals. Management allocates the purchase price to net tangible and identified intangible assets and liabilities based on their fair values. The determination of fair value involves the use of significant judgment and estimation. Acquisition costs in excess of the fair value of tangible and identifiable intangible net assets is recorded as goodwill.
	Fixed Assets - Fixed assets are recorded at cost. Routine maintenance and repairs are expensed as incurred. Depreciation is calculated under the straight-line method over the estimated useful lives, principally 21 to 40 years for buildings, 3 to 10 years for buildings improvements, 1 to 20 years for machinery and equipment, and 1 to 7 years for furniture, fixtures and computer software. Leasehold improvements are amortized under the straight-line method over the shorter of the lease term or estimated useful life of the asset.
	Fixed assets for New Media consisted of the following:
		September 30, 2014
	Land	$	25,940
Buildings and improvements	127,497
Machinery and equipment	143,431
Furniture, fixtures, and computer software	14,187
Construction in progress and other non-depreciating assets	1,350
	$	312,405
Less: accumulated depreciation	(21,924		)
Total	$	290,481
Depreciation expense related to fixed assets of New Media for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014, was $9.2 million and $22.0 million, respectively.
Goodwill and Intangibles - Intangible assets related to the Media Business consist of advertiser, customer and subscriber relationships, mastheads and trade names. These intangible assets are recorded at fair value at the date of acquisition. New Media estimates the fair value of the advertiser, customer and subscriber relationships and the trade names using the multi-period excess earnings method under the income approach. This valuation method is based on first forecasting revenue for the existing customer base and then applying expected attrition rates. Mastheads are not amortized because it has been determined that the useful lives of such mastheads are indefinite.
Amortization of intangible assets is included within depreciation and amortization on the consolidated statements of operations and is calculated using the straight-line method based on the following estimated useful lives:
Advertiser relationships	14 - 16 years
Customer relationships	14 - 16 years
Subscriber relationships	13 - 16 years
Trade names	10 years
Goodwill and intangible assets related to New Media consisted of the following:
		September 30, 2014
		Gross			Accumulated				Net
		Carrying Amount			Amortization				Carrying Amount
Amortized intangible assets:
Advertiser relationships		$	62,325		$	(2,437	)		$	59,888
Customer relationships		7,763			(245		)		7,518
Subscriber relationships		38,016			(1,470		)		36,546
Trade name		262			(17		)		245
Total		$	108,366		$	(4,169	)		$	104,197
Nonamortized intangible assets:
Mastheads									50,936
Total intangible assets, net									$	155,133
Goodwill									$	125,407
As of September 30, 2014, the weighted average amortization periods for amortizable intangible assets are 15.8 years for advertiser relationships, 15.9 years for customer relationships, 15.9 years for subscriber relationships and 10.0 years for trade names. The weighted average amortization period in total for all amortizable intangible assets is 15.8 years.
Amortization expense related to amortizable intangible assets of New Media for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014 was $1.7 million and $4.2 million, respectively. Estimated future amortization expense as of September 30, 2014, is as follows:
October 1, 2014 to December 31, 2014	$	1,755
2015	7,022
2016	7,022
2017	7,022
2018	7,022
Thereafter	74,354
Total	$	104,197
Goodwill and intangible assets with indefinite lives are tested for impairment annually or when events indicate that an impairment could exist which may include an economic downturn in a market, a change in the assessment of future operations or a decline in New Media’s stock price. An annual impairment assessment is performed on each of New Media's reporting units. The fair value of the applicable reporting unit is compared to its carrying value. Calculating the fair value of a reporting unit requires significant estimates and assumptions. Fair value is estimated by applying third-party market value indicators to projected cash flows and/or projected earnings before interest, taxes, depreciation, and amortization. In applying this methodology, the company relies on a number of factors, including current operating results and cash flows, expected future operating results and cash flows, future business plans, and market data. If the carrying value of the reporting unit exceeds the estimate of fair value, the amount of impairment is calculated as the excess of the carrying value of goodwill over its implied fair value. In June 2014, New Media performed an impairment assessment of its goodwill and intangible assets for each of its reporting units. Based on its assessment, no impairment was identified.
The recoverability of its long-lived assets, including fixed assets and definite lived intangible assets, is estimated whenever events or changes in business circumstances indicate the carrying amount of the assets, or related group of assets, may not be fully recoverable. Impairment indicators include significant under performance relative to historical or projected future operating losses, significant changes in the manner of use of the acquired assets or the strategy for New Media’s overall business, and significant negative industry or economic trends. The assessment of recoverability is based on management’s estimates by comparing the sum of the estimated undiscounted cash flows generated by the underlying asset, or other appropriate grouping of assets, to its carrying value to determine whether an impairment existed at its lowest level of identifiable cash flows. If the carrying amount of the asset is greater than the expected undiscounted cash flows to be generated by such asset, an impairment is recognized to the extent the carrying value of such asset exceeds its fair value.
The newspaper industry and New Media have experienced declining same store revenue and profitability over the past several years. Should general economic, market or business conditions decline, and have a negative impact on estimates of future cash flow and market transaction multiples, this may require impairment charges to be recorded in the future.
Cash Equivalents - Cash equivalents represent highly liquid certificates of deposit which have original maturities of three months or less.
Deferred Revenue - Billings to clients and payments received in advance of the performance of services or delivery of products are recorded as deferred revenue until services are performed or the product is delivered.
Other Assets and Other Liabilities - Other assets are presented net of allowances for uncollectible amounts of $4.7 million as of September 30, 2014, which were recorded as general, administrative and other. Other assets and liabilities of the Non-Investment Manager are comprised of the following:
	Other Assets				Other Liabilities
	September 30, 2014				September 30, 2014
Accounts receivable, net	$	73,303		Accounts payable	$	8,638
Inventory	11,106			Accrued expenses	46,287
Prepaid expenses	7,298			Pension and postretirement benefit obligations	9,094
Miscellaneous assets	25,186			Miscellaneous liabilities	8,160
	$	116,893			$	72,179
-	Accounts Receivable - Accounts receivable are stated at amounts due from customers, net of an allowance for uncollectible accounts. Allowance for uncollectible accounts is based upon several factors including the length of time the receivables are past due, historical payment trends and current economic factors. New Media generally does not require collateral.
-	Inventory - Inventory consists principally of newsprint, which is valued at the lower of cost or market. Cost is determined using the first-in, first-out (“FIFO”) method. In 2014, New Media expects to purchase approximately 95% of newsprint from one vendor.
-	Pension and Other Postretirement Benefit Obligations - Pension plan obligations and expense is based on a number of actuarial assumptions. Two critical assumptions are the expected long-term rate of return on plan assets and the discount rate applied to pension plan obligations. For other postretirement benefit plans, which provide for certain health care and life insurance benefits for qualifying retired employees and which are not funded, critical assumptions in determining other postretirement benefit obligations and expense are the discount rate and the assumed health care cost-trend rates.
New Media maintains a legacy pension plan and legacy postretirement medical and life insurance plans which cover qualifying employees of its subsidiaries. The pension plan and postretirement medical and life insurance plans are closed to new participants and the pension plan was frozen to all future benefit accruals. Also, medical and life insurance benefits for a select group of active employees are frozen and the plan limits future benefits.
The accrued benefit actuarial method is used and best estimate assumptions are used to determine pension costs, liabilities and other pension information for defined benefit plans.
The following provides information on the components of net periodic benefit cost (income) for the pension plans and postretirement medical and life insurance plans for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014:
								Period from February 14, 2014
	Three Months Ended September 30, 2014							to September 30, 2014
	Pension			Postretirement				Pension			Postretirement
Service cost	$	75		$	9			$	225		$	25
Interest cost	295			63				885			190
Expected return on plan assets	(406		)	—				(1,218		)	—
Net periodic benefit cost (income)	$	(36	)	$	72			$	(108	)	$	215
The following assumptions were used to calculate the net periodic benefit cost (income) for New Media’s defined benefit pension and postretirement plans:
		Pension		Postretirement
Weighted average discount rate		5	%	4.5	%
Expected return on assets		8	%	N/A
Current year trend		N/A		7.8	%
Ultimate year trend		N/A		4.8	%
Year of ultimate trend		N/A		2025
Since the pension plan was frozen to all future benefit accruals and the medical and life insurance benefit plans limit future benefits, management assumed no rate of increase in future compensation levels.

MANAGEMENT_AGREEMENTS_AND_FORT

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS	9 Months Ended
	Sep. 30, 2014
Management and Agreement Fortress Funds	'
MANAGEMENT AGREEMENTS AND FORTRESS FUNDS	'
	MANAGEMENT AGREEMENTS AND FORTRESS FUNDS
	Investment Manager
	Fortress has two principal sources of income from its agreements with the Fortress Funds: contractual management fees, which are generally based on a percentage of fee paying assets under management, and related incentive income, which is generally based on a percentage of returns, or profits, subject to the achievement of performance criteria. Substantially all of Fortress's net assets, after deducting the portion attributable to non-controlling interests, are a result of Fortress's investments in, or receivables from, these funds. The terms of agreements between Fortress and the Fortress Funds are generally determined in connection with third party fund investors.
	Management Fees, Incentive Income and Related Profit Sharing Expense
	Fortress recognized management fees and incentive income as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Private Equity
	Private Equity Funds
	Management fees: affil.	$	33,585			$	33,686			$	104,228			$	99,221
	Management fees: non-affil.	53				123				364				345
	Incentive income: affil.	—				6,433				22,094				21,742
	Permanent Capital Vehicles
	Management fees: affil.	16,021				13,884				45,288				43,600
	Management fees, options: affil.	1,742				—				3,346				36,470
	Management fees: non-affil.	667				643				2,358				2,959
	Incentive income: affil.	8,887				4,178				32,142				5,378
	Liquid Hedge Funds
	Management fees: affil.	29,263				24,313				86,328				61,373
	Management fees: non-affil.	4,470				6,324				17,045				18,008
	Incentive income: affil.	700				10,886				1,686				17,350
	Incentive income: non-affil.	—				1,138				44				3,625
	Credit Funds
	Credit Hedge Funds
	Management fees: affil.	28,755				25,455				84,044				75,284
	Management fees: non-affil.	41				26				85				151
	Incentive income: affil.	8,282				10,756				26,015				31,330
	Credit PE Funds
	Management fees: affil.	23,540				23,633				71,799				71,115
	Management fees: non-affil.	31				35				99				104
	Incentive income: affil.	13,072				8,681				43,697				27,376
	Incentive income: non-affil.	343				769				986				1,145
	Logan Circle
	Management fees: affil.	768				622				2,167				1,894
	Management fees: non-affil.	11,512				8,210				32,161				23,964
	Total
	Management fees: affil.	$	133,674			$	121,593			$	397,200			$	388,957
	Management fees: non-affil.	$	16,774			$	15,361			$	52,112			$	45,531
	Incentive income: affil. (A)	$	30,941			$	40,934			$	125,634			$	103,176
	Incentive income: non-affil.	$	343			$	1,907			$	1,030			$	4,770
	(A)	See “Deferred Incentive Income” below. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles.
	Deferred Incentive Income
	Incentive income from certain Fortress Funds, primarily the private equity funds, private permanent capital vehicle and credit PE funds, is received when such funds realize returns, or profits, based on the related agreements. However, this incentive income is subject to contingent repayment by Fortress to the funds until certain overall fund performance criteria are met. Accordingly, Fortress does not recognize this incentive income as revenue until the related contingencies are resolved. Until such time, this incentive income is recorded on the balance sheet as deferred incentive income and is included as “distributed-unrecognized” deferred incentive income in the table below. Incentive income from such funds, based on their net asset value, which has not yet been received is not recorded on the balance sheet and is included as “undistributed” deferred incentive income in the table below.
	Incentive income from certain Fortress Funds is earned based on achieving annual performance criteria. Accordingly, this incentive income is recorded as revenue at year end (in the fourth quarter of each year), is generally received subsequent to year end, and has not been recognized for these funds during the nine months ended September 30, 2014 and 2013. If the amount of incentive income contingent on achieving annual performance criteria was not contingent on the results of the subsequent quarters, $77.1 million and $185.9 million of additional incentive income would have been recognized during the nine months ended September 30, 2014 and 2013, respectively. Incentive income based on achieving annual performance criteria that has not yet been recognized, if any, is not recorded on the balance sheet and is included as “undistributed” deferred incentive income in the table below.
	During the nine months ended September 30, 2014 and 2013, Fortress recognized $43.7 million and $27.4 million, respectively, of incentive income distributions from its credit PE funds which represented “tax distributions.” These tax distributions are not subject to clawback and reflect a cash amount approximately equal to the amount expected to be paid out by Fortress for taxes or tax-related distributions on the allocated income from such funds.
	Deferred incentive income from the Fortress Funds was comprised of the following, on an inception-to-date basis. This does not include any amounts related to third party funds, receipts from which are reflected as Other Liabilities until all contingencies are resolved.
		Distributed-Gross					Distributed-Recognized (A)				Distributed-Unrecognized (B)				Undistributed, net of intrinsic clawback (C) (D)
	Deferred incentive income as of December 31, 2013	$	1,015,084				$	(767,528	)		$	247,556			$	696,333
	Fortress Funds which matured (no longer subject	—					—				N/A				N/A
	to clawback)
	Share of income (loss) of Fortress Funds	N/A					N/A				N/A				365,164
	Distribution of private equity funds and credit PE	102,541					N/A				102,541				(102,541		)
	funds incentive income
	Distribution of private permanent capital vehicle	217					N/A				217				(217		)
	incentive income
	Recognition of previously deferred incentive income	N/A					(66,778		)		(66,778		)		N/A
	Changes in foreign exchange rates	148					—				148				N/A
	Deferred incentive income as of September 30, 2014	$	1,117,990		(E)		$	(834,306	)		$	283,684			$	958,739		(E)
	Deferred incentive income including Fortress Funds	$	1,171,646				$	(887,962	)
	which matured
	(A)	All related contingencies have been resolved.
	(B)	Reflected on the consolidated balance sheet.
	(C)	At September 30, 2014, the net undistributed incentive income is comprised of $1,025.6 million of gross undistributed incentive income, net of $66.9 million of intrinsic clawback. The net undistributed incentive income represents the amount that would be received by Fortress from the related funds if such funds were liquidated on September 30, 2014 at their net asset values.
(D)	From inception to September 30, 2014, Fortress has paid $507.3 million of compensation expense under its employee profit sharing arrangements (Note 8) in connection with distributed incentive income, of which $21.5 million has not been expensed because management has determined that it is not probable of being incurred as an expense and will be recovered from the related individuals. As of September 30, 2014, Fortress has recovered $6.4 million from individuals relating to their clawback obligations. If the $1,025.6 million of gross undistributed incentive income were realized, Fortress would recognize and pay an additional $484.0 million of compensation expense.
(E)	See detailed reconciliations of Distributed-Gross and Undistributed, net of intrinsic clawback below.
The amounts set forth under Distributed-Gross can be reconciled to the incentive income threshold tables (on the following pages) as follows:
						30-Sep-14
Distributed incentive income - Private Equity Funds						$	846,671
Distributed incentive income - Private Equity Funds in Investment or Commitment Period						—
Distributed incentive income - Credit PE Funds						479,987
Distributed incentive income - Credit PE Funds in Investment or Commitment Period						119,773
Distributed incentive income - Private Permanent Capital Vehicle in Investment or						744
Commitment Period
Less:
		Fortress Funds which are not subject to a clawback provision:
		—			NIH	(94,513		)
		—			GAGACQ Fund	(51,476		)
		Portion of Fund I distributed incentive income that Fortress is not entitled to (see footnote K of incentive income threshold tables)				(183,196		)
Distributed-Gross						$	1,117,990
The amounts set forth under Undistributed, net of intrinsic clawback can be reconciled to the incentive income threshold tables (on the following pages) as follows:
					30-Sep-14
Undistributed incentive income - Private Equity Funds					$	13,922
Undistributed incentive income - Private Equity Funds in Investment or Commitment Period					1,828
Undistributed incentive income - Credit PE Funds					561,176
Undistributed incentive income - Credit PE Funds in Investment or Commitment Period					283,159
Undistributed incentive income - Private Permanent Capital Vehicle in Investment or					4,755
Commitment Period
Undistributed incentive income - Hedge Funds (total)					160,624
Undistributed incentive income - Logan Circle					178
Less:		Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds			(66,903		)
Undistributed, net of intrinsic clawback					$	958,739
The following tables summarize information with respect to the Fortress Funds and their related incentive income thresholds as of September 30, 2014:
Fund (Vintage) (A)	Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value (“NAV”)				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)			Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
			Capital Invested
Private Equity Funds
NIH (1998)	In Liquidation		$	415,574			$	(823,588	)		$	—			$ N/A				$	—		$ N/A			$	—			$	94,513			$	—			$	—			$	—
Fund I (1999) (K)	Closed May-13		1,015,943				(2,847,929		)		—				N/A				—			N/A			—				344,939				—				—				—
Fund II (2002)	In Liquidation		1,974,298				(3,442,900		)		2,734				1,471,336				—			N/A			540				288,840				—				—				—
Fund III (2004)	15-Jan		2,762,992				(2,138,525		)		1,572,491				948,024				1,958,669			1,010,645			—				66,903				66,903				66,903				45,108
Fund III Coinvestment (2004)	15-Jan		273,649				(225,188		)		74,901				26,440				232,209			205,769			—				—				—				—				—
Fund IV (2006)	17-Jan		3,639,561				(1,310,031		)		2,957,210				627,680				2,632,585			2,004,905			—				—				—				—				—
Fund IV Coinvestment (2006)	17-Jan		762,696				(257,537		)		449,513				(55,646		)		562,167			617,813			—				—				—				—				—
Fund V (2007) (K)	18-Feb		4,103,713				(785,298		)		4,943,372				1,624,957				2,363,286			741,289			1,776				—				—				—				—
Fund V Coinvestment (2007) (K)	18-Feb		990,480				(90,665		)		588,129				(311,686		)		622,196			933,882			—				—				—				—				—
GAGACQ Fund (2004) (GAGFAH)	Closed		545,663				(595,401		)		N/A				N/A				N/A			N/A			N/A				51,476				N/A				N/A				N/A
	9-Nov
FRID (2005) (GAGFAH)	In Liquidation		1,220,229				(1,199,599		)		2,775				(17,855		)		941,358			959,213			—				—				—				—				—
FRIC (2006) (Brookdale)	In Liquidation		328,754				(289,768		)		1,602				(37,384		)		271,601			308,985			—				—				—				—				—
FICO (2006) (Intrawest)	17-Jan		724,525				(5		)		(62,120		)		(786,640		)		579,458			1,366,098			—				—				—				—				—
FHIF (2006) (Holiday)	17-Jan		1,543,463				(532,805		)		1,936,940				926,282				1,124,702			198,420			—				—				—				—				—
FECI (2007) (Florida East Coast Railway/Florida East Coast Industries)	18-Feb		982,779				(311		)		1,028,944				46,476				718,131			671,655			—				—				—				—				—
MSR Opportunities Fund I A (2012)	22-Aug		328,882				(92,979		)		332,176				96,273				32,336			N/A			9,293				—				—				—				—
MSR Opportunities Fund I B (2012)	22-Aug		79,748				(22,521		)		80,368				23,141				7,831			N/A			2,313				—				—				—				—
																									$	13,922			$	846,671			$	66,903			$	66,903			$	45,108
Private Equity Funds in Investment or Commitment Period
MSR Opportunities Fund II A (2013)	23-Jul		$	50,605			$	(4,623	)		$	55,932			$	9,950			$	3,037		$ N/A			$	1,470			$	—			$	—			$	—			$	—
MSR Opportunities Fund II B (2013)	23-Jul		722				(66		)		792				136				43			N/A			20				—				—				—				—
MSR Opportunities II MA I (2013)	23-Jul		11,609				(1,061		)		12,833				2,285				697			N/A			338				—				—				—				—
Italian NPL Opportunities (2013)	24-Sep		15,631				—				13,354				(2,277		)		334			2,611			—				—				—				—				—
																									$	1,828			$	—			$	—			$	—			$	—
Continued on next page.
Fund (Vintage) (A)		Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value (“NAV”)				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)				Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
				Capital Invested
Credit PE Funds
Long Dated Value Fund I (2005)		30-Apr		$	267,325			$	(89,874	)		$	300,739			$	123,288			$	141,875		$	18,587			$	—			$	—			$	—			$	—			$	—
Long Dated Value Fund II (2005)		30-Nov		274,280				(147,790		)		201,357				74,867				111,423			36,556				—				412				—				—				—
Long Dated Value Fund III (2007)		Feb-32		343,156				(272,641		)		207,266				136,751				—			N/A				18,908				6,473				—				—				—
LDVF Patent Fund (2007)		27-Nov		42,457				(39,584		)		36,895				34,022				—			N/A				1,715				1,471				—				—				—
Real Assets Fund (2007)		17-Jun		359,024				(335,000		)		141,121				117,097				—			N/A				13,004				5,285				—				—				—
Credit Opportunities Fund (2008)		20-Oct		5,542,293				(6,723,137		)		1,374,412				2,555,256				—			N/A				200,517				301,802				129,383				—				—
Credit Opportunities Fund II (2009)		22-Jul		2,262,185				(2,164,437		)		1,192,006				1,094,258				—			N/A				144,303				70,318				15,999				—				—
FCO Managed Account (2010)		22-Jun		574,352				(496,165		)		367,510				289,323				—			N/A				42,587				12,347				—				—				—
SIP Managed Account (2010)		20-Sep		11,000				(33,700		)		10,872				33,572				—			N/A				2,174				4,540				—				—				—
Japan Opportunity Fund (2009)		19-Jun		988,462				(1,031,344		)		838,452				881,334				—			N/A				118,261				64,953				16,768				—				—
Net Lease Fund I (2010)		20-Feb		152,721				(221,668		)		4,959				73,906				—			N/A				303				9,396				6,336				—				—
Real Estate Opportunities Fund (2011)		24-Sep		533,698				(212,539		)		431,176				110,017				—			N/A				8,402				1,202				635				—				—
Global Opportunities Fund (2010)		20-Sep		304,304				(157,541		)		212,464				65,701				—			N/A				11,002				1,788				1,788				—				—
																											$	561,176			$	479,987			$	170,909			$	—			$	—
Credit PE Funds in Investment or Commitment Period
Credit Opportunities Fund III (2011)		24-Mar		$	2,592,599			$	(1,120,567	)		$	1,988,145			$	516,113			$	—		$ N/A				$	84,579			$	16,459			$	3,898			$	—			$	—
FCO Managed Accounts (2008-2012)		Apr-22 to Mar-27		3,637,284				(2,624,911		)		2,138,941				1,126,568				—			N/A				140,757				81,856				40,914				—				—
Japan Opportunity Fund II (Yen) (2011)		21-Dec		616,578				(202,364		)		615,513				201,299				—			N/A				31,563				9,312				—				—				—
Japan Opportunity Fund II (Dollar) (2011)		21-Dec		562,041				(164,458		)		579,285				181,702				—			N/A				23,569				11,462				—				—				—
Life Settlements Fund (2010)		22-Dec		390,760				(299,330		)		68,279				(23,151		)		71,057			94,208				—				—				—				—				—
Life Settlements Fund MA (2010)		22-Dec		31,978				(24,482		)		5,380				(2,116		)		5,836			7,952				—				—				—				—				—
Real Estate Opportunities REOC Fund (2011)		23-Oct		49,472				(18,840		)		47,593				16,961				—			N/A				2,691				684				316				—				—
Real Estate Opportunities Fund II(2014)		27-May		121,405				—				121,147				(258		)		1,413			1,671				—				—				—
																											$	283,159			$	119,773			$	45,128			$	—			$	—
Continued on next page.
Fund (Vintage) (A)		Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value ("NAV")				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)		Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
				Capital Invested
Private Permanent Capital Vehicle in Investment Period or
Commitment Period
WWTAI (2011)		25-Jan		$	499,372			$	(85,231	)		$	471,833			$	57,692			$	34,797		N/A		$	4,755			$	744			$	744			$	—			$	—
Fund (Vintage) (A)		Equity Eligible for Incentive (L)				Gain to Cross Incentive Income Threshold (F)			Life-to-Date Incentive Income Crystallized (P)
Publicly Traded Permanent Capital Vehicles
Newcastle		$	1,650,704			$ (F)			$	41,283
Eurocastle Investment Limited		510,099				156,938			39,217
("Eurocastle")
New Residential Investment Corp.		1,372,067				—			47,795
("New Residential")
New Media (W)		511,028				8,995			—
	Incentive Income Eligible NAV (L)				Gain to Cross Incentive Income Threshold (M)				Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold (N)			Undistributed Incentive Income (O)				Year to Date Incentive Income Crystallized (P)
Liquid Hedge Funds
Macro Funds (Q) (T)
Main fund investments	$	1,585,061			$	73,036			14.1	%		$	458			$	69
Single investor funds	862,958				44,451				0.8	%		19				—
Sidepocket investments (R)	10,574				8,124				N/A			163				334
Sidepocket investments - redeemers (S)	113,342				71,364				N/A			1,132				1,204
Managed accounts	659,948				35,540				0.6	%		10				1
Asia Macro Funds (T)
Main fund investments	2,651,697				67,529				5.5	%		397				—
Managed accounts	325,618				12,925				0	%		—				—
Fortress Convex Asia Funds (T)
Main fund investments	189,061				10,590				11.3	%		14				—
Fortress Partners Funds (T)
Main fund investments	6,230				20,814				0	%		—				—
Sidepocket investments (R)	126,434				19,380				N/A			5,754				—
Credit Hedge Funds
Special Opportunities Funds (T)
Main fund investments	$	4,666,211			$	—			100	%		$	72,838			$	—
Sidepocket investments (R)	63,902				—				N/A			4,779				—
Sidepocket investments - redeemers (S)	213,034				53,072				N/A			5,218				1,217
Main fund investments (liquidating) (U)	516,753				—				100	%		66,615				24,833
Managed accounts	7,919				45,458				0	%		—				—
Worden Funds
Main fund investments	260,911				83				97.9	%		3,182				2
Fortress Japan Income Fund
Main fund investments	13,362				N/A				0	%		—				—
Value Recovery Funds (V)
Managed accounts	17,089				5,249				60.3	%		45				—
Logan Circle
Main fund investments	$	55,000			$	4			0	%		$	—			$	—
Managed accounts	303,882				836				50.7	%		178				—
(A)	Vintage represents the year in which the fund was formed.
(B)	Represents the contractual maturity date including the assumed exercise of all extension options, which in some cases may require the approval of the applicable fund advisory board. Private equity funds that have reached their maturity date are included in the table to the extent they have generated incentive income.
(C)	Includes an increase to the NAV surplus related to the U.S. income tax expense of certain investment entities, which is considered a distribution for the purposes of computing incentive income.
(D)	A NAV deficit represents the gain needed to cross the incentive income threshold (as described in (F) below), excluding the impact of any relevant performance (i.e. preferred return) thresholds (as described in (E) below).
(E)	Represents the gain needed to achieve the current relevant performance thresholds, assuming the gain described in (D) above is already achieved.
(F)	Represents the immediate increase in NAV needed for Fortress to begin earning incentive income, including the achievement of any relevant performance thresholds. It does not include the amount needed to earn back intrinsic clawback (see (J) below), if any. Incentive income is not recorded as revenue until it is received and any related contingencies are resolved (see (I) below). For the publicly traded permanent capital vehicles, represents the immediate increase of the company's applicable supplemental measure of operating performance needed for Fortress to begin earning incentive income. As of September 30, 2014, as a result of Newcastle not meeting the incentive income threshold, Fortress does not expect to earn incentive income from Newcastle for an indeterminate period of time.
(G)	Represents the amount of additional incentive income Fortress would receive if the fund were liquidated at the end of the period at its NAV. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. As of September 30, 2014, a portion of Fund V's capital is above the incentive income threshold.
(H)	Represents the amount of net incentive income previously received from the fund since inception.
(I)	Represents the amount of incentive income previously received from the fund which is still subject to contingencies and is therefore recorded on the consolidated balance sheet as Deferred Incentive Income. This amount will either be recorded as revenue when all related contingencies are resolved, or, if the fund does not meet certain performance thresholds, will be returned by Fortress to the fund (i.e., “clawed back”).
(J)	Represents the amount of incentive income previously received from the fund that would be clawed back (i.e., returned by Fortress to the fund) if the fund were liquidated at the end of the period at its NAV, excluding the effect of any tax adjustments. Employees, former employees and affiliates of Fortress would be required to return a portion of this incentive income that was paid to them under profit sharing arrangements. “Gross” and “Net” refer to amounts that are gross and net, respectively, of this employee/affiliate portion of the intrinsic clawback. Fortress remains liable to the funds for these amounts even if it is unable to collect the amounts from employees/affiliates. Fortress withheld a portion of the amounts due to employees under these profit sharing arrangements as a reserve against future clawback; as of September 30, 2014, Fortress held $31.8 million of such amounts on behalf of employees related to all of the private equity funds.
(K)	The Fund I distributed incentive income amount is presented for the total fund, of which Fortress was entitled to approximately 50%.  Fund V includes Fund V (GLPI Sisterco) and Fund V Coinvestment includes Fund V Coinvestment (GLPI Sisterco).
(L)	Represents the portion of a fund’s or managed account's NAV or trading level that is eligible to earn incentive income. For the publicly traded permanent capital vehicles, represents the equity basis that is used to calculate incentive income.
(M)	Represents, for those investors whose NAV is below the performance threshold Fortress needs to obtain before it can earn incentive income from such investors (their “incentive income threshold” or “high water mark”), the amount by which their aggregate incentive income thresholds exceed their aggregate NAVs. The amount by which the NAV of each investor within this category is below their respective incentive income threshold varies and, therefore, Fortress may begin earning incentive income from certain investors before this entire amount is earned back. Fortress earns incentive income whenever the assets of new investors, as well as of investors whose NAV exceeds their incentive income threshold, increase in value. For Fortress Japan Income Fund, Fortress earns incentive income based on investment income, which does not include unrealized and realized gains and losses, earned in excess of a preferred return threshold.
(N)	Represents the percentage which is computed by dividing (i) the aggregate NAV of all investors who are at or above their respective incentive income thresholds, by (ii) the total incentive income eligible NAV of the fund. The amount by which the NAV of each fund investor who is not in this category is below their respective incentive income threshold may vary, and may vary significantly. This percentage represents the performance of only the main fund investments and managed accounts relative to their respective incentive income thresholds. It does not incorporate the impact of unrealized losses on sidepocket investments that can reduce the amount of incentive income earned from certain funds. See footnote (R) below.
(O)	Represents the amount of additional incentive income Fortress would earn from the fund or managed account if it were liquidated at the end of the period at its NAV. This amount is currently subject to performance contingencies generally until the end of the year or, in the case of sidepocket investments, until such investments are realized. Main Fund Investments (Liquidating) pay incentive income only after all capital is returned. For the Fortress Japan Income Fund, represents the amount of incentive income Fortress would earn from the fund assuming the amount of investment income earned in excess of the preferred return threshold was distributed as of the end of the period. For the Value Recovery Fund managed accounts, Fortress can earn incentive income if aggregate realizations exceed an agreed threshold. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles.
(P)	Represents the amount of incentive income Fortress has earned in the current period which is not subject to clawback. For the publicly traded permanent capital vehicles, represents the life-to-date incentive income amount that Fortress has earned and which is not subject to clawback.
(Q)	The Drawbridge Global Macro SPV (the “SPV”), which was established in February 2009 to liquidate illiquid investments and distribute the proceeds to then existing investors, is not subject to incentive income and is therefore not presented in the table. However, realized gains or losses within the SPV can decrease or increase, respectively, the gain needed to cross the incentive income threshold for investors with a corresponding investment in the main fund. The unrealized gains and losses within the SPV at September 30, 2014, as if they became realized, would not materially impact the amounts presented in the table.
(R)	Represents investments held in sidepockets (also known as special investment accounts), which generally have investment profiles similar to private equity funds. The performance of these investments may impact Fortress’s ability to earn incentive income from main fund investments. For the credit hedge funds and Fortress Partners Funds, realized and unrealized losses from individual sidepockets below original cost may reduce the incentive income earned from main fund investments. For the Macro Funds, only realized losses from individual sidepockets reduce the incentive income earned from main fund investments. Based on current unrealized losses in Macro Fund sidepockets, if all of the Macro Fund sidepockets were liquidated at their NAV at September 30, 2014, the undistributed incentive income from the Macro main fund would not be impacted.
(S)	Represents investments held in sidepockets for investors with no corresponding investment in the related main fund investments. In the case of the Macro Funds, such investors may have investments in the SPV (see (Q) above).
(T)	Includes onshore and offshore funds.
(U)	Relates to accounts where investors have provided return of capital notices and are subject to payout as underlying fund investments are realized.
(V)	Excludes the Value Recovery Funds which had a NAV of $292.3 million at September 30, 2014. Fortress began managing the third party originated Value Recovery Funds in June 2009 and generally does not expect to earn any significant incentive income from the fund investments.
(W)	Fortress has a management agreement with New Media whereby it may earn incentive income. New Media is a VIE consolidated by Fortress (see Note 1) and as a result any New Media incentive income earned by Fortress is eliminated in consolidation. However, Fortress has included New Media in the above table solely for informational purposes.
Logan Circle
During the nine months ended September 30, 2014, Logan Circle, Fortress's fixed income asset manager, began managing two new fixed income funds which had a total net asset value of $100.6 million as of September 30, 2014.
Private Equity Funds and Credit PE Funds
During the nine months ended September 30, 2014, Fortress formed new Private Equity and Credit PE funds which had capital commitments as follows as of September 30, 2014:
	Private Equity (A)				Credit PE
Fortress	$	11,533			$	12,000
Fortress's affiliates	303,285				1,205
Third party investors	765,512				284,630
Total capital commitments	$	1,080,330			$	297,835
(A)    Private equity includes a new fund which is a consolidated VIE.
During the nine months ended September 30, 2014, Fortress's senior living management subsidiary entered into agreements to manage seven senior living properties which are owned by Newcastle. Fortress will receive management fees equal to 6.0% of revenues (as defined in the agreements) for the first two years and 7.0% thereafter and reimbursement of certain expenses, including the compensation expense of all on-site employees. These properties will be included as part of Newcastle's spin off of its senior housing business during the fourth quarter of 2014 (see Note 12).
In June 2014, Fortress's senior living management subsidiary entered into agreements to manage two senior living properties owned by a third party. Fortress will receive management fees of 5.5% of revenues (as defined in the agreements) and reimbursement of certain expenses, including the compensation expense associated with all on-site employees. In connection with these agreements, Fortress paid the third party property owner $1.9 million in the third quarter of 2014.
During the second quarter of 2014, certain PE Funds (Fund II, FRID and FRIC) substantially liquidated their respective remaining investments. These funds distributed a majority of the sale proceeds to their respective investors and are in the process of final liquidation. During the second quarter of 2014, Fortress received additional net incentive income of $0.9 million from Fund II and returned $16.4 million to FRID representing prior net incentive income distributions received ($10.0 million net of employee amounts). No remaining clawback amount exists for these funds.
Liquid Hedge Funds and Credit Hedge Funds
During the nine months ended September 30, 2014, Fortress formed, or became the manager of, hedge funds with net asset values as follows as of September 30, 2014:
	Liquid Hedge Funds (B)				Credit Hedge Funds
Fortress	$	47,029			$	—
Fortress's affiliates	34,887				—
Third party investors	—				13,362
Total capital NAV (A)	$	81,916			$	13,362
(A)	Or other fee paying basis, as applicable.
(B)	Liquid hedge funds includes a new fund which is a consolidated VIE.

INVESTMENTS_AND_FAIR_VALUE

INVESTMENTS AND FAIR VALUE	9 Months Ended
	Sep. 30, 2014
Investments and Fair Value	'
INVESTMENTS AND FAIR VALUE	'
	INVESTMENTS AND FAIR VALUE
	Investment Manager
	Investments consist primarily of investments in equity method investees and options in these investees. The investees are primarily Fortress Funds.
	Investments can be summarized as follows:
		30-Sep-14				31-Dec-13
	Equity method investees	$	1,086,449			$	1,174,878
	Equity method investees, held at fair value (A)	13,506				78,388
	Total equity method investments	$	1,099,955			$	1,253,266
	Options in equity method investees	$	70,251			$	104,338
	(A)	Includes publicly traded private equity portfolio companies, primarily GAGFAH (the sale of which was completed in June 2014), as well as the publicly traded permanent capital vehicles (NCT, NRZ and ECT).  Does not include New Media which is eliminated in consolidation.
	Gains (losses) can be summarized as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014					2013
	Net realized gains (losses)	$	(10,150	)		$	36			$	(9,558	)			$	(335	)
	Net realized gains (losses) from affiliate investments	3,640				6,616				47,988			(A)		6,499
	Net unrealized gains (losses)	16,845				52				11,321					5,654
	Net unrealized gains (losses) from affiliate investments	(29,694		)		799				(75,986		)	(A)		33,760
	Total gains (losses)	$	(19,359	)		$	7,503			$	(26,235	)			$	45,578
	(A)	Includes the impact of the sale of GAGFAH which was completed in June 2014.
	These gains (losses) were generated as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Mark to fair value on affiliate investments and options	$	(25,777	)		$	7,008			$	(27,743	)		$	39,590
	Mark to fair value on derivatives	11,994				(1,476		)		8,300				3,805
	Mark to fair value on equity securities	(98		)		1,527				672				1,524
	Realized gains (losses) on digital currency (Bitcoin)	(11,515		)		—				(11,515		)		—
	Reversal of prior period unrealized (gains) losses on digital	5,974				—				3,702				—
	currency (Bitcoin)
	Other	63				444				349				659
	Total gains (losses)	$	(19,359	)		$	7,503			$	(26,235	)		$	45,578
	Investments in Equity Method Investees
	Fortress holds investments in certain Fortress Funds which are recorded based on the equity method of accounting. Fortress’s maximum exposure to loss with respect to these entities is generally equal to its investment plus its basis in any options received from such entities, plus any receivables from such entities as described in Note 7. In addition, unconsolidated affiliates also hold ownership interests in certain of these entities. Summary financial information related to these investments is as follows:
		Fortress’s Investment								Fortress’s Equity in Net Income (Loss)
		September 30,				December 31,				Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013				2014				2013
	Private equity funds, excluding NIH	$	711,567			$	786,093			$	31,278			$	44,469			$	48,628			$	79,711
	NIH	—				—				—				—				—				(554		)
	Publicly traded portfolio companies (A)(B)	1,022				63,001				N/A				N/A				N/A				N/A
	WWTAI	3,799				3,801				(6		)		83				(64		)		218
	Newcastle (B)	4,383				5,953				N/A				N/A				N/A				N/A
	New Residential (B)	6,046				6,928				N/A				N/A				N/A				N/A
	Eurocastle (B)	2,055				2,506				N/A				N/A				N/A				N/A
	Total private equity	728,872				868,282				31,272				44,552				48,564				79,375
	Liquid hedge funds	126,649				158,920				515				7,525				3,801				14,138
	Credit hedge funds	56,773				58,825				1,595				3,372				6,404				9,037
	Credit PE funds	178,471				159,044				4,810				5,311				22,204				23,161
	Other	9,190				8,195				736				(252		)		777				(196		)
		$	1,099,955			$	1,253,266			$	38,928			$	60,508			$	81,750			$	125,515
	(A)	Represents Fortress’s direct investments in the common stock of publicly traded private equity portfolio companies, primarily GAGFAH (the sale of which was completed in June 2014).
	(B)	Fortress elected to record these investments at fair value pursuant to the fair value option for financial instruments.
	A summary of the changes in Fortress’s investments in equity method investees is as follows:
		Nine Months Ended September 30, 2014
		Private Equity
		NIH				Other Funds				Publicly Traded Portfolio Companies (A)				Permanent Capital Vehicles (A)				Liquid Hedge Funds				Credit Hedge Funds				Credit PE Funds				Other				Total
	Investment, beginning	$	—			$	786,093			$	63,001			$	19,188			$	158,920			$	58,825			$	159,044			$	8,195			$	1,253,266
	Earnings from equity method investees	—				48,628				N/A				(64		)		3,801				6,404				22,204				777				81,750
	Other comprehensive income from equity	—				—				N/A				—				—				—				—				—				—
	method investees
	Contributions to equity method investees (B)	—				2,290				—				(49		)		89,324				167,669				28,949				568				288,751
	Distributions of earnings from equity	—				(48,139		)		N/A				(38		)		(4,482		)		(6,196		)		(19,449		)		(33		)		(78,337		)
	method investees
	Distributions of capital from equity	—				(77,730		)		N/A				147				(120,914		)		(169,929		)		(11,445		)		(107		)		(379,978		)
	method investees (B)
Total distributions from equity method	—				(125,869		)		—				109				(125,396		)		(176,125		)		(30,894		)		(140		)		(458,315		)
investees
Mark to fair value - during period (C)	N/A				(1,249		)		5,186				(1,777		)		N/A				N/A				N/A				N/A				2,160
Translation adjustment	—				—				(741		)		(188		)		—				—				(830		)		—				(1,759		)
Dispositions	—				—				(66,424		)		—				—				—				(2		)		(210		)		(66,636		)
Reclassification to Due to Affiliates (D)	—				1,674				—				—				—				—				—				—				1,674
Consolidation of Non-Investment Manager (E)	—				—				—				(936		)		—				—				—				—				(936		)
Investment, ending	$	—			$	711,567			$	1,022			$	16,283			$	126,649			$	56,773			$	178,471			$	9,190			$	1,099,955
Ending balance of undistributed earnings	$	—			$	77,818			$ N/A				$	—			$	386			$	2,195			$	10,978			$	2,719			$	94,096
(A)	Fortress elected to record the publicly traded private equity portfolio companies and the publicly traded permanent capital vehicles at fair value pursuant to the fair value option for financial instruments. Does not include New Media which is eliminated in consolidation.
(B)	The amounts presented above can be reconciled to the amounts presented on the statement of cash flows as follows:
	Nine Months Ended September 30, 2014
	Contributions				Distributions of Capital
Per consolidated statements of cash flows	$	21,487			$	(368,373	)
Investments of incentive receivable amounts into Fortress Funds	256,993				—
Change in distributions payable out of Fortress Funds	—				176
Net funded*	10,271				(10,271		)
Other	—				(1,510		)
Per Above	$	288,751			$	(379,978	)
*	In some instances, a private equity style fund may need to simultaneously make both a capital call (for new investments or expenses) and a capital distribution (related to realizations from existing investments). This results in a net funding.
(C)	Recorded to Gains (Losses).
(D)	Represents a portion of the general partner liability discussed in Note 10.
(E)	Represents the elimination of Fortress's direct investment in New Media, a consolidated VIE, as of the date of consolidation.
The ownership percentages presented in the following tables are reflective of the ownership interests held as of the end of the respective periods. For tables which include more than one Fortress Fund, the ownership percentages are based on a weighted average by total equity of the funds as of period end. NIH, the permanent capital vehicles, the publicly traded portfolio companies and Other are not presented as they are insignificant to Fortress’s investments.
	Private Equity Funds excluding NIH (B)
	September 30,				December 31,
	2014				2013
Assets	$	14,267,465			$	16,982,954
Debt	(3,251		)		(1,626		)
Other liabilities	(141,389		)		(185,144		)
Equity	$	14,122,825			$	16,796,184
Fortress’s Investment	$	711,567			$	786,093
Ownership (A)	5		%		4.7		%
	Nine Months Ended September 30,
	2014				2013
Revenues and gains (losses) on investments	$	891,148			$	2,731,208
Expenses	(146,652		)		(148,233		)
Net Income (Loss)	$	744,496			$	2,582,975
Fortress’s equity in net income (loss)	$	48,628			$	79,711
	Liquid Hedge Funds								Credit Hedge Funds								Credit PE Funds (B) (C)
	September 30,				December 31,				September 30,				December 31,				September 30,				December 31,
	2014				2013				2014				2013				2014				2013
Assets	$	18,115,038			$	13,167,316			$	11,311,558			$	10,226,023			$	11,445,230			$	10,544,754
Debt	—				—				(4,468,255		)		(3,918,692		)		(168,275		)		(161,225		)
Other liabilities	(11,119,029		)		(6,735,989		)		(382,626		)		(332,510		)		(367,364		)		(311,538		)
Non-controlling interest	—				—				(13,605		)		(6,470		)		(4,456		)		(3,461		)
Equity	$	6,996,009			$	6,431,327			$	6,447,072			$	5,968,351			$	10,905,135			$	10,068,530
Fortress’s Investment	$	126,649			$	158,920			$	56,773			$	58,825			$	178,471			$	159,044
Ownership (A)	1.8		%		2.5		%		0.9		%		1		%		1.6		%		1.6		%
	Nine Months Ended September 30,								Nine Months Ended September 30,								Nine Months Ended September 30,
	2014				2013				2014				2013				2014				2013
Revenues and gains	$	(32,720	)		$	538,394			$	797,387			$	975,979			$	1,687,296			$	1,296,556
(losses) on investments
Expenses	(161,404		)		(111,418		)		(258,480		)		(182,961		)		(194,818		)		(233,363		)
Net Income (Loss)	$	(194,124	)		$	426,976			$	538,907			$	793,018			$	1,492,478			$	1,063,193
Fortress’s equity in net	$	3,801			$	14,138			$	6,404			$	9,037			$	22,204			$	23,161
income (loss)
(A)	Excludes ownership interests held by other Fortress Funds, the Principals, employees and other affiliates.
(B)	For Private Equity Funds, includes four entities which are recorded on a one quarter lag (i.e. current year balances reflected for these entities are for the period ended June 30, 2014). For Credit PE Funds, includes one entity which is recorded on a one quarter lag and several entities which are recorded on a one month lag. They are recorded on a lag because they are foreign entities, or they have substantial operations in foreign countries, and do not provide financial reports under GAAP within the reporting time frame necessary for U.S. public entities.
(C)	Includes certain entities in which Fortress has both a direct and an indirect investment.
Investments in Variable Interest Entities and other Unconsolidated Entities
All of Fortress’s interests in unconsolidated entities relate to (i) entities in which Fortress has an investment, which are included in Investments on the consolidated balance sheet and described in Note 4, and/or (ii) entities from which Fortress earns fees, which are included in revenues and described in Note 3.
As of September 30, 2014 Fortress had interests in 204 entities, 143 of which were entities, primarily Fortress Funds, classified as voting interest entities. These entities generally provide their limited partners or members unrelated to Fortress with the substantive ability to liquidate the Fortress Fund or otherwise remove Fortress as the general partner.
A significant majority of the 61 entities classified as VIEs were investing vehicles set up on behalf of the Fortress Funds to make investments. A Fortress Fund will generally have a majority ownership and a majority economic interest in the investing vehicles that are VIEs. Most of the remaining VIEs are entities that are majority-owned and controlled by third parties and are insignificant in size.
A Fortress Fund is generally the primary beneficiary of each of these investing vehicles because it is the entity most closely associated with the VIE based on the applicable consolidation guidance. Fortress is not considered the primary beneficiary of, and, therefore, does not consolidate, any of the VIEs in which it holds an interest, except as described below. No reconsideration events occurred during the nine months ended September 30, 2014 or 2013, respectively, which caused a change in Fortress’s accounting, except as described below.
The following tables set forth certain information as of September 30, 2014 regarding variable interest entities in which Fortress holds a variable interest. The amounts presented below are included in, and not in addition to, the equity method investment tables above.
Entities initially classified as variable interest entities during the nine months ended September 30, 2014:
		Fortress is not Primary Beneficiary
Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
Credit PE Funds		6			$	100,023			$	33,562			$	1,093			(D)
Logan Circle		2			105,037				—				—				(C)
Liquid Hedge Funds		2			34,982				—				95				(D)
		Fortress is Primary Beneficiary
Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
Private Equity Funds		1			$	58,476			$	—			$	50			(F)
Permanent Capital Vehicles		1			822,977				232,275				6,474				(G)
(Non-Investment Manager)
Liquid Hedge Funds		1			133,730				37,258				47,532				(F)
Credit Hedge Funds		3			—				—				—				(G)
All variable interest entities:
		Fortress is not Primary Beneficiary
		30-Sep-14															31-Dec-13
Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
Private Equity Funds		1			$	547			$	—			$	—			1			$	789			$	—			$	155			(C)
Permanent Capital Vehicles		3			13,310,838				9,421,240				123,477				3			13,950,294				9,804,741				145,472				(C)
Liquid Hedge Funds		4			4,894,165				1,682,004				4,789				2			4,897,650				2,343,406				40,816				(D)
Credit Hedge Funds		6			2,010,902				259,722				3,122				6			1,966,802				370,607				50,945				(D) (E)
Credit PE Funds		37			1,163,735				144,090				6,728				33			1,229,250				362,642				5,350				(D) (E)
Logan Circle		3			360,917				—				195				1			244,828				—				144				(C)
		Fortress is Primary Beneficiary
		30-Sep-14															31-Dec-13
Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
Private Equity Funds		2			$	96,459			$	—			$	11,444			1			$	52,976			$	—			$	15,868			(F) (H)
Permanent Capital Vehicles		1			822,977				232,275				6,474				—			—				—				—				(G)
(Non-Investment Manager)
Liquid Hedge Funds		1			133,730				37,258				47,532				—			—				—				—				(F)
Credit Hedge Funds		3			—				—				—				—			—				—				—				(G)
(A)	Represents financial obligations of the VIEs, which are not recourse to Fortress. Financial obligations include financial borrowings, derivative liabilities and short securities. In many cases, these VIEs have additional debt within unconsolidated subsidiaries. The debt obligations of the VIEs are not cross collateralized with the debt obligations of Fortress.  Fortress has no obligation to satisfy the liabilities of the VIEs. Similarly, Fortress does not have the right to make use of the assets of the VIEs to satisfy its obligations. The VIE’s debt obligations have no impact on Fortress’s cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.
(B)	Represents Fortress’s maximum exposure to loss with respect to these entities, which includes direct and indirect investments in these entities, plus any receivables due from these entities. In addition to the table above, Fortress is exposed to potential changes in cash flow and revenues attributable to the management fees and/or incentive income Fortress earns from those entities. For VIEs where Fortress is deemed to be the primary beneficiary, these investments and receivables are eliminated in consolidation but still represent Fortress’s economic exposure to the VIEs.
(C)	Includes Fortress Funds that are a VIE because the fund's at-risk equity holders as a group lack the characteristics of a controlling financial interest because (i) the decision making is through a management contract that is not an at-risk equity investment and/or (ii) the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Fortress is the investment manager of these funds. Fortress is not the primary beneficiary of these funds because it and its related parties do not absorb a majority of the funds' expected losses or residual returns based on a quantitative analysis.
(D)	Includes entities (including investing vehicles and master funds) that are a VIE because the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because either (i) the group of at-risk equity holders does not have the ability to make decisions or have power over the activities that most significantly affect the success of the entity or impact the entity's economic performance and/or (ii) the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Among the related party group, a Fortress Fund is determined to be most closely associated with, and thus is the primary beneficiary of, these VIEs because the VIE was designed to act on behalf of the Fortress Fund to make investments.  In addition, the activities of the VIE are more significant to the Fortress Fund, and in evaluating exposure to the expected losses or variability associated with the economic performance of the VIEs, in most cases the Fortress Fund holds both a majority ownership and majority economic interest in the VIE.
(E)	Includes entities that are a VIE because the entity's equity investment at-risk is determined to be insufficient. Fortress is not the general partner, managing member or investment manager of these entities. The primary beneficiary of these entities is the third party investor who either is the general partner or has a majority ownership interest and a majority economic interest and power over the entity. These entities represent an insignificant portion of the amounts presented in the table.
(F)	Includes entities that are a VIE because the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Fortress is determined to be most closely associated with, and thus is the primary beneficiary of, these VIEs. As of September 30, 2014, includes $58.5 million and $133.7 million of gross assets of a consolidated private equity fund and liquid hedge fund, respectively, which are disclosed under Investment Company, consolidated VIEs in the consolidated financial statements.
(G)	Includes entities that are a VIE because (i) the entity's equity investment at-risk is determined to be insufficient and/or (ii) the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because the decision making is through a management contract that is not an at-risk equity investment. Fortress is the investment manager of these entities.  Fortress is determined to be the primary beneficiary of these entities since it has both power over the activities that most significantly affect the success of the entity or impact the entity’s economic performance and has the right to receive benefits from the VIE that potentially could be significant to the entity. Included in credit hedge funds are investment vehicles formed during the second quarter of 2014. As of September 30, 2014, the credit hedge fund investment vehicles did not hold any assets or have any debt outstanding.
(H)	Includes an entity that is a VIE because the entity’s equity investment at risk is determined to be insufficient.  Fortress, as a result of directing the operations of the entity through its management contracts with certain funds, and providing financial support to the entity, was deemed to be its primary beneficiary.
Fair Value of Financial Instruments
The following table presents information regarding Fortress’s financial instruments that are recorded at fair value. Investments denominated in foreign currencies have been translated at the period end exchange rate. Changes in fair value are recorded in Gains (Losses).
	Fair Value								Valuation Method
	30-Sep-14				31-Dec-13
Investment Manager
Assets (within Investments)
Newcastle, New Residential and Eurocastle common shares	$	12,484			$	15,387			Level 1 - Quoted prices in active markets for identical assets
Common stock of publicly traded	1,022				63,001				Level 1 - Quoted prices in active markets for identical assets
private equity portfolio companies
Total equity method investments	$	13,506			$	78,388
carried at fair value
Newcastle, New Residential and Eurocastle options	$	70,251			$	104,338			Level 2 - Option valuation models using significant observable inputs
Assets (within Other Assets)
Derivatives	$	17,785			$	9,749			Level 2 - See below
	$	16,990			$	23,005			Level 1 - Quoted prices in active markets for identical assets
Equity Securities (A)
Liabilities (within Accrued
Compensation and Benefits)
Options in affiliates granted to	$	(8,831	)		$	(16,390	)		Level 2 - Option valuation models using significant observable inputs
employees
Liabilities (within Other Liabilities)
Derivatives	$	(2,416	)		$	(1,820	)		Level 2 - See below
(A)	Represents direct investments made by Fortress in accounts managed by Logan Circle's growth equities business. The equity investments in these accounts are owned on Fortress's behalf and are held at fair value and classified as trading.
See Note 5 regarding the fair value of outstanding debt.
During the three months ended June 30, 2014, Fortress sold 4,190,761 shares of GAGFAH and realized a gain of approximately $44.7 million. From inception through March 31, 2014, Fortress recorded a cumulative unrealized gain of approximately $41.0 million in its investment income, resulting approximately in a $3.7 million gain in the second quarter of 2014.
In April 2014, New Residential issued 14.4 million shares of its common stock in a public offering at a price to the public of $12.20 per share. For the purposes of compensating Fortress for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to Fortress to purchase 1.4 million shares of New Residential's common stock at the public offering price, which were valued at $1.6 million. The options were fully vested upon issuance, become exercisable over thirty months and have a ten-year term. In October 2014, New Residential effected a 2-for-1 reverse stock split of its common stock. As a result of the reverse stock split, every two shares of New Residential's common stock were converted into one share of common stock, reducing the number of issued and outstanding shares of New Residential's common stock from approximately 282.8 million to approximately 141.4 million as of September 30, 2014. Every two options held by Fortress in New Residential were converted into one option with a corresponding increase in the strike price of the option. All New Residential share data and historical prices included herein have been adjusted for the reverse stock split.
In August 2014, Newcastle effected a 3-for-1 reverse stock split of its common stock. During October 2014, Newcastle also effected a 2-for-1 reverse stock split of its common stock. As a result of these reverse stock splits, every six shares of Newcastle's common stock were converted into one share of common stock, reducing the number of issued and outstanding shares of Newcastle’s common stock from 398.4 million to 66.4 million as of September 30, 2014. Every six options held by Fortress in Newcastle were converted into one option with a corresponding increase in the strike price of the option. All Newcastle share data and historical prices included herein have been adjusted for these reverse stock splits.
In August 2014, Newcastle issued 7.7 million shares of its common stock in a public offering at a price to the public of $26.34 per share (as adjusted for reverse stock splits).  For purposes of compensating Fortress for its successful efforts in raising capital for Newcastle, in connection with this offering, Newcastle granted options to Fortress to purchase 0.8 million shares of Newcastle’s common stock at the public offering price, which were valued at $1.7 million.  The options were fully vested upon issuance, become exercisable over thirty months and have a ten-year term.
In September 2014, New Media issued approximately 7.5 million shares of its common stock in a public offering at a price to the public of $16.25 a share for net proceeds of approximately $114.9 million. For purposes of compensating Fortress for its successful efforts in raising capital for New Media, in connection with this offering, New Media granted options to Fortress to purchase approximately 0.7 million shares of New Media's common stock at the public offering price, which were valued at approximately $3.0 million. The options were fully vested upon issuance, become exercisable over thirty months and have a ten-year term. These options are eliminated in consolidation.
Derivatives
Fortress is exposed to certain risks relating to its ongoing business operations.  The primary risk managed by Fortress using derivative instruments is foreign currency risk.  Fortress enters into foreign exchange forward contracts and options to economically hedge the risk of fluctuations in foreign exchange rates with respect to certain foreign currency denominated assets and expected revenues. Gains and losses on these contracts are reported currently in Gains (Losses).
Fortress’s derivative instruments are carried at fair value and are generally valued using models with observable market inputs that can be verified and which do not involve significant judgment.  The significant observable inputs used in determining the fair value of our Level 2 derivative contracts are contractual cash flows and market based parameters such as foreign exchange rates.
Fortress’s derivatives (not designated as hedges) are recorded as follows:
	Balance Sheet		September 30, 2014 (or nine months ended)												Maturity
	Location (A)		Fair Value				Notional Amount				Gains/(Losses) (B)				Date
Foreign exchange forward contracts	Other Assets		$	1,088			¥	1,776,837			$	1,088			Dec 14 - Jun 16
Foreign exchange option contracts	Other Assets		$	16,697			¥	40,835,266			$	7,730			Dec 14 - Mar 17
Foreign exchange option contracts	Other Liabilities		$	(2,416	)		¥	4,719,235			$	(606	)		Dec 14 - Sep 17
(A)	Fortress has a master netting agreement with its counterparty.
(B)	Reflects unrealized gains (losses) related to contracts existing at period end.
The counterparty on the outstanding derivatives is Citibank N.A.
Investment Company
Investments, at fair value, consist primarily of financial instruments held by the Investment Company, and are comprised of the following:
	30-Sep-14								Percentage of
	Cost				Fair Value				Investment Company
Common stock	$	71,437			$	70,351			52	%
Investments in affiliates (A)	58,155				58,155				43	%
Options	822				590				1	%
Derivatives	—				4,761				4	%
	$	130,414			$	133,857			100	%
(A)	Represents equity investments in private portfolio companies.
At September 30, 2014, investments, at fair value are predominantly concentrated in North America and Europe.
Investment Company liabilities consist primarily of securities sold not yet purchased, at fair value and options and derivatives which are included in Other liabilities on the consolidated balance sheet.
	September 30, 2014								Percentage of
	Cost				Fair Value				Investment Company
Securities sold not yet purchased, at fair value	$	38,902			$	37,258			98	%
Options	33				23				0	%
Derivatives	—				780				2	%
	$	38,935			$	38,061			100	%
The following summarizes the assets and liabilities held by the Investment Company measured at fair value, on a recurring basis within the fair value hierarchy as of September 30, 2014.
	Financial assets as of September 30, 2014
	Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
Common Stock	$	70,351			$	—			$	—			$	70,351
Investments in affiliates	—				—				58,155				58,155
Options	375				215				—				590
Derivatives (A)	43				5,511				—				5,554
	$	70,769			$	5,726			$	58,155			$	134,650
	Financial liabilities as of September 30, 2014
	Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
Securities sold not yet purchased, at fair value	37,258				—				—				37,258
Options	—				23				—				23
Derivatives (A)	88				1,485				—				1,573
	$	37,346			$	1,508			$	—			$	38,854
(A)	GAAP requires that reporting entities provide sufficient information to permit a reconciliation of the fair value measurement hierarchy disclosures to the consolidated balance sheet. The amounts presented in the table above are presented on a gross basis and, therefore, do not take into consideration rights to offset in the netting agreements. Provided these investments are held with the same legal counterparty governed by the Investment Company's standard trading agreements (the "Netting agreement"), certain balances are presented on a net basis in the consolidated balance sheet. See table below for a reconciliation between the gross and net amounts of each financial instrument type.
(B)	Level 1 - Fair value is determined using quoted unadjusted prices in active markets for identical assets or liabilities.
(C)	Level 2 - Fair value is determined using quotations received from dealers making a market for these assets or liabilities, valuations obtained from independent third-party pricing services, the use of models or other valuation methodologies based on pricing inputs that are either directly or indirectly market observable as of the measurement date.
(D)	Level 3 - Fair value is determined using pricing inputs that are unobservable in the market and includes situations where there is little, if any, market activity for the asset or liability. The fair value of assets and liabilities in this category may require significant judgment or estimation in determining fair value of the assets or liabilities. The fair value of these assets and liabilities may be estimated using a combination of observed transaction prices, independent pricing services, relevant broker quotes, models or other valuation methodologies based on pricing inputs that are neither directly or indirectly market observable.
The Investment Company's quarterly average derivative trading volume, based on the underlying notional amounts, was $211.1 million as of September 30, 2014.
During the nine months ended September 30, 2014, the Investment Company had total Level 3 investment purchases of $58.2 million and there were no transfers to or from Level 3 investments. As of September 30, 2014, the Investment Company’s carrying value of its Level 3 investments was $58.2 million which is equal to their cost basis. As a significant majority of these investments were acquired during the three months ended September 30, 2014 management has determined that the investments’ purchase price approximates fair value as of September 30, 2014.
The Investment Company has agreements with certain counterparties with which it trades derivative instruments that contain credit-risk-related contingent features that could be triggered by certain circumstances (such as agreed upon capital balance thresholds). At times the Investment Company may have derivative instruments with counterparty credit-risk-related contingent features that are in a net liability position gross of collateral with various counterparties. If such credit-risk-related contingencies were triggered, the counterparties would have the option of terminating the agreements in the event the Investment Company was unable to renegotiate the terms of its agreements with such counterparties. Additionally, the Investment Company may be required to post collateral or settle the differences in the amount equal to the fair value of the derivative instruments less the collateral posted. During the nine months ended September 30, 2014, no such contingencies were triggered.
The Investment Company has trading agreements with certain counterparties which do not allow the right to set off. Such amounts are presented on a gross basis in the consolidated balance sheet and in the following reconciliation. Additionally, management has elected not to net options in the consolidated balance sheet, even if the right to offset exists in the netting agreements.
The following table sets forth the fair value of the Investment Company derivative contracts on a gross basis and any amount offset as permitted by the netting agreements as of September 30, 2014.
Offsetting of Financial Assets and Derivative Assets
									Net Amounts of Assets
					Gross Amounts Offset				Presented in the
	Gross Amounts of				in the Consolidated				Consolidated
	Recognized Assets as of				Balance Sheet as of				Balance Sheet as of
	September 30, 2014				September 30, 2014				September 30, 2014
Options	$	590			$	—			$	590
Derivatives	5,554				(793		)		4,761
	$	6,144			$	(793	)		$	5,351
Offsetting of Financial Liabilities and Derivative Liabilities
					Gross Amounts				Net Amounts of Liabilities
					Offset in the				Presented in the
	Gross Amounts of				Consolidated				Consolidated
	Recognized Liabilities as of				Balance Sheet as of				Balance Sheet as of
	September 30, 2014				September 30, 2014				September 30, 2014
Options	$	23			$	—			$	23
Derivatives	1,573				(793		)		780
	$	1,596			$	(793	)		$	803
As of September 30, 2014, prior to the application of netting agreements, the Investment Company pledged cash collateral of $14.4 million, none of which is subject to offset.
The Investment Company records written option contracts as liabilities in the consolidated balance sheet. In writing an option, the Investment Company bears the market risk of an unfavorable change in the financial instrument underlying the written option. The exercise of an option written by the Investment Company could result in the Investment Company buying or selling a financial instrument at a price higher or lower than the current fair value.
For the period from June 1, 2014 (commencement of operations) to September 30, 2014, the Investment Company wrote put and call options which may require it to purchase or sell certain investments if the written options are exercised against the Investment Company by the option holder. At September 30, 2014, the fair value of options written was less than $0.1 million and is included in Other liabilities in the consolidated balance sheet. The written options expire on December 19, 2014. The maximum payout for written put options is limited to the number of contracts written and the related strike prices, whereas the maximum payout for written call options provides no limitation and is contingent upon the number of contracts written and the market price of the underlying instruments at the date of a payout. At September 30, 2014, the Investment Company had a maximum payout amount of approximately $14.0 million relating to written put option contracts, which expire in less than 1 year. The maximum payout amount could be offset by the subsequent sale of assets obtained via the execution of a payout event. The fair value of these underlying assets of the written put options at September 30, 2014 is $16.5 million. Written call option contracts expire in less than one year.
Gains (losses) can be summarized as follows:
	Three Months Ended September 30,								Nine Months Ended September 30,
	2014				2013				2014				2013
Net realized gains (losses)	$	(5,743	)		$	—			$	(8,744	)		$	—
Net unrealized gains (losses)	752				—				4,317				—
	$	(4,991	)		$	—			$	(4,427	)		$	—
These gains (losses) were generated as follows:
	Three Months Ended September 30,								Nine Months Ended September 30,
	2014				2013				2014				2013
Mark to fair value on investments and options	$	(2,076	)		$	—			$	(1,258	)		$	—
Mark to fair value on derivatives	(2,915		)		—				(3,169		)		—
	$	(4,991	)		$	—			$	(4,427	)		$	—

DEBT_OBLIGATIONS

DEBT OBLIGATIONS

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

'

DEBT OBLIGATIONS

'

DEBT OBLIGATIONS

Investment Manager

Face Amount and Carrying Value

Contractual

Final

30-Sep-14

September 30,

December 31,

Interest

Stated

Amount

Debt Obligation

2014

2013

Rate

Maturity

Available for Draws

Revolving credit agreement (A)(B)

$

75,000

$

—

LIBOR + 2.50% (C)

Feb-16

$

72,332

Total

$

75,000

$

—

(A)

Collateralized by substantially all of Fortress Operating Group’s assets as well as Fortress Operating Group’s rights to fees from the Fortress Funds and its equity interests therein, other than fees from Fortress's senior living property manager.

(B)

The $150.0 million revolving debt facility includes a $15.0 million letter of credit subfacility of which $2.7 million was utilized.

(C)

Subject to unused commitment fees of 0.4% per annum.

Management believes the fair value of its outstanding debt was approximately $75.1 million as of September 30, 2014 (classified as a level 3 valuation, which is based on internal models using discounted future contractual cash flows and market interest rates).

Fortress was in compliance with all of its debt covenants as of September 30, 2014. The following table sets forth the financial covenant requirements as of September 30, 2014.

30-Sep-14

(dollars in millions)

Requirement

Actual

Notes

AUM, as defined

≥

$

25,000

$

45,311

(A)

Consolidated Leverage Ratio

≤

2

0.23

(B)

Consolidated Interest Coverage Ratio

≥

4

112.12

(B)

(A)

Impacted by capital raised in funds, redemptions from funds, and valuations of fund investments. The AUM presented here is based on the definition contained in the credit agreement.

(B)

The Consolidated Leverage Ratio is equal to Adjusted Net Funded Indebtedness, as defined, divided by the trailing four quarters’ Consolidated EBITDA, as defined. The Consolidated Interest Coverage Ratio is equal to the quotient of (A) the trailing four quarters' Consolidated EBITDA, as defined, divided by (B) the trailing four quarters' interest charges as defined in the Credit Agreement. Consolidated EBITDA, as defined, is impacted by the same factors as distributable earnings, except Consolidated EBITDA is not impacted by changes in clawback reserves or gains and losses, including impairment, on investments.

Fortress's compliance with its debt covenants is not impacted by or dependent on the activities of the Media Business or on the terms and conditions of the New Media Credit Agreement.

The debt obligations of the Media Business are not cross collateralized with the debt obligations of the Investment Manager. Fortress has no obligation to satisfy the liabilities of New Media. Similarly, Fortress does not have the right to make use of the assets of New Media to satisfy its obligations.

New Media's debt obligations have no impact on the Investment Manager's cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.

Non-Investment Manager

New Media Credit Agreement

On June 4, 2014, New Media Holdings II LLC (the “New Media Borrower”), a wholly owned subsidiary of New Media, entered into a credit agreement (the “New Media Credit Agreement”) among the New Media Borrower, New Media Holdings I LLC (“Holdings I”), the lenders party thereto, RBS Citizens, N.A. and Credit Suisse Securities (USA) LLC as joint lead arrangers and joint bookrunners, Credit Suisse AG, Cayman Islands Branch as syndication agent and Citizens Bank of Pennsylvania as administration agent which provides for (i) a $200.0 million senior secured term facility (the “Term Loan Facility”) and (ii) a $25.0 million senior secured revolving credit facility (of which $15.0 million was drawn as of September 30, 2014), with a $5.0 million sub-facility for letters of credit and a $5.0 million sub-facility for swing loans (the “Revolving Credit Facility” and together with the Term Loan Facility, the “Senior Secured Credit Facilities”). In addition, the New Media Borrower may request one or more new commitments for term loans or revolving loans from time to time up to an aggregate total of $75.0 million (the "Incremental Facility") subject to certain conditions. On June 4, 2014, the New Media Borrower borrowed $200.0 million under the Term Loan Facility (the “Term Loans”). The Term Loans mature on June 4, 2020 and the maturity date for the Revolving Credit Facility is June 4, 2019.

The proceeds of the Term Loans, which included a $6.7 million original issue discount, were primarily used to repay in full all amounts outstanding under the GateHouse Credit Facilities and the Local Media Credit Facility.

Borrowings under the Term Loan Facility bear interest, at the New Media Borrower’s option, at a rate equal to either (i) the Eurodollar Rate (as defined in the New Media Credit Agreement), plus an applicable margin equal to 6.25% per annum (subject to a Eurodollar Rate floor of 1.00%) or (ii) the Base Rate (as defined in the New Media Credit Agreement), plus an applicable margin equal to 5.25% per annum (subject to a Base Rate floor of 2.00%).

Borrowings under the Revolving Credit Facility bear interest, at the New Media Borrower’s option, at a rate equal to either (i) the Eurodollar Rate, plus an applicable margin equal to 5.25% per annum or (ii) the Base Rate, plus an applicable margin equal to 4.25% per annum, with a step down based on achievement of a certain total leverage ratio.

If any borrowings under the Incremental Facility have an all-in yield more than 50 basis points greater than the Term Loans (the "Incremental Yield"), the all-in yield for the Term Loans shall be adjusted to be 50 basis points less than the Incremental Yield.

The Senior Secured Credit Facilities are unconditionally guaranteed by Holdings I and certain subsidiaries of the New Media Borrower (collectively, the “Guarantors”) and is required to be guaranteed by all future material wholly-owned domestic subsidiaries, subject to certain exceptions. All obligations under the New Media Credit Agreement are secured, subject to certain exceptions, by substantially all of the New Media Borrower’s assets and the assets of the Guarantors, including (a) a pledge of 100% of the equity interests of the New Media Borrower and the Guarantors (other than Holdings I), (b) a mortgage lien on the New Media Borrower’s material real property and that of the Guarantors and (c) all proceeds of the foregoing.

Repayments made under the Term Loans are equal to 1.0% annually of the original principal amount in equal quarterly installments for the life of the Term Loans, with the remainder due at maturity. The New Media Borrower is permitted to make voluntary prepayments at any time without premium or penalty, except in the case of prepayments made in connection with certain repricing transactions with respect to the Term Loans effected within six months of the closing date of the New Media Credit Agreement, to which a 1.00% prepayment premium applies. The New Media Borrower is required to repay borrowings under the Senior Secured Credit Facilities (without payment of a premium) with (i) net cash proceeds of certain debt obligations (except as otherwise permitted under the New Media Credit Agreement), (ii) net cash proceeds from non-ordinary course asset sales (subject to reinvestment rights and other exceptions), and (iii) commencing with New Media’s fiscal year started December 30, 2013, 100% of Excess Cash Flow (as defined in the New Media Credit Agreement), subject to step-downs to 50%, 25% and 0% of Excess Cash Flow based on achievement of a total leverage ratio of less than or equal to 3.0 to 1.0 but greater than 2.75 to 1.0; less than or equal to 2.75 to 1.0 but greater than 2.5 to 1.0; and less than or equal to 2.5 to 1.0, respectively.

The New Media Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants applicable to Holdings I, the New Media Borrower and the New Media Borrower’s subsidiaries, including, among other things, restrictions on indebtedness, liens, investments, fundamental changes, dispositions, and dividends and other distributions. The New Media Credit Agreement contains a financial covenant that requires Holdings I, the New Media Borrower and the New Media Borrower’s subsidiaries to maintain a maximum total leverage ratio of 3.25 to 1.0. The New Media Credit Agreement contains customary events of default. The foregoing description of the Senior Secured Credit Facilities are qualified in their entirety by reference to the Senior Secured Credit Facilities. The New Media Credit Agreement was amended July 17, 2014 to cure an omission.

One lender under the New Media Credit Agreement was also a lender under the GateHouse Credit Facilities. This portion of the transaction was accounted for as a modification, as the difference between the present value of the cash flows under the New Media Credit Agreement and the present value of the cash flows under the GateHouse Credit Facilities was less than 10%. The unamortized deferred financing costs of $1.9 million and original issuance discount balance of $0.9 million as of the refinance date pertaining to this lender’s portion of the GateHouse Credit Facilities will be amortized over the terms of the new facility. The remaining portion of the Gatehouse Credit Facilities and Local Media Facility debt refinancing constituted an extinguishment of debt, and was accounted for accordingly. In connection with this transaction, New Media incurred approximately $10.2 million of fees and expenses, of which $6.7 million were recognized as original issue discount and $1.7 million were recognized as deferred financing costs. These amounts were capitalized and will be amortized over the terms of the Senior Secured Credit Facilities. Additionally, New Media recorded a loss on early extinguishment of debt of $9.0 million associated with this transaction, which consisted of the write-off of unamortized deferred financing costs and other expenses not eligible for capitalization.

During September 2014, the New Media Credit Agreement was amended to provide for additional term loans under the Incremental Facility in an aggregate principal amount of $25.0 million (such term loans, the "Incremental Term Loan," and such amendment, the "Incremental Amendment"). The Incremental Term Loan is on terms identical to the term loans that were extended pursuant to the New Media Credit Agreement and will mature on June 4, 2020. In addition, the New Media Borrower was required to pay an upfront fee of 2.00% of the aggregate amount of the Incremental Term Loan as of he effective date of the Incremental Amendment.

During the nine months ended September 30, 2014, New Media paid $0.9 million of deferred financing costs related to the GateHouse Credit Facilities and Local Media Credit Facility and $1.7 million related to the New Media Credit Agreement.

GateHouse Credit Facilities

The Revolving Credit, Term Loan and Security Agreement (the “First Lien Credit Facility”) dated November 26, 2013 by and among GateHouse, GateHouse Media Intermediate Holdco, LLC formerly known as GateHouse Media Intermediate Holdco, Inc. (“GMIH”), certain wholly-owned subsidiaries of GMIH, all of which are wholly owned subsidiaries of New Media (collectively with GMIH and GateHouse, the “Loan Parties”), PNC Bank, National Association, as the administrative agent, Crystal Financial LLC, as term loan B agent, and each of the lenders party thereto provided for (i) a term loan A in the aggregate principal amount of $25.0 million, a term loan B in the aggregate principal amount of $50.0 million, and a revolving credit facility in an aggregate principal amount of up to $40.0 million.

The Term Loan and Security Agreement (the “Second Lien Credit Facility” and together with the First Lien Credit Facility, the “GateHouse Credit Facilities”) dated November 26, 2013 by and among the Loan Parties, Mutual Quest Fund and each of the lenders party thereto provided for a term loan in an aggregate principal amount of $50.0 million. The GateHouse Credit Facilities were secured by a first and second priority security interest in substantially all the assets of the Loan Parties.

The GateHouse Credit Facilities were paid in full on June 4, 2014.

Local Media Credit Facility

Certain of Local Media Parent’s subsidiaries (together, the “Borrowers”) and Local Media entered into a Credit Agreement, dated as of September 3, 2013, with a syndicate of financial institutions with Credit Suisse AG, Cayman Islands Branch, as administrative agent (the “Local Media Credit Facility”).

The Local Media Credit Facility provided for: (a) a $33.0 million term loan facility; and (b) a $10.0 million revolving credit facility, with a $3.0 million sub-facility for letters of credit and a $4.0 million sub-facility for swing loans. The Local Media Credit Facility was secured by a first priority security interest in substantially all assets of the Borrowers and Local Media Parent. In addition, the loans and other obligations of the Borrowers under the Local Media Credit Facility are guaranteed by Local Media Group Holdings LLC.

The Local Media Credit Facility was paid in full on June 4, 2014.

Fair Value

As of September 30, 2014, the estimated fair value of long-term debt under the New Media Credit Agreement was $240.0 million, based on discounted future contractual cash flows and a market interest rate adjusted for necessary risks, including New Media's credit risk as there are no rates currently observable in publicly traded debt markets of risk with similar terms and average maturities. Accordingly, New Media's long-term debt under the New Media Credit Agreement is classified within Level 3 of the fair value hierarchy.

Payment Schedule

As of September 30, 2014, scheduled principal payments of New Media's outstanding debt are as follows:

Amount

October 1, 2014 through December 31, 2014

$

563

2015

2,250

2016

2,250

2017

2,813

2018

1,687

Thereafter

230,437

240,000

Less: Original issue discount

7,725

Total New Media debt obligations

$

232,275

INCOME_TAXES_AND_TAX_RELATED_P

INCOME TAXES AND TAX RELATED PAYMENTS	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES AND TAX RELATED PAYMENTS	'
	INCOME TAXES AND TAX RELATED PAYMENTS
	Investment Manager
	A portion of Fortress’s income is not subject to U.S. federal income tax, but is allocated directly to Fortress’s shareholders.
	Fortress recognizes compensation expense from the issuance of RSUs and RPUs (Note 8) over their vesting period.  Consequently, Fortress records an estimated income tax benefit associated with RSUs and RPUs.  However, Fortress is not entitled to an actual deduction on its income tax returns until a later date when the compensation is considered taxable to the employee.  The actual income tax deduction can vary significantly from the amount recorded as an income tax benefit in earlier periods and is based on the value of the stock at the date the compensation is taxable to the employee.
	At each tax deduction date, Fortress is required to compare the amount of the actual income tax benefit to the estimated amount recognized earlier.  Excess tax benefits associated with RSUs and RPUs are credited to stockholder's equity to the extent that the actual tax benefit is greater than what was previously estimated. If the actual tax benefit is less than that estimated, which will occur if the price of the stock has declined during the vesting period, Fortress has a “tax shortfall.”  The tax shortfall must be charged to income tax expense to the extent Fortress does not have prior excess tax benefits (i.e., prior actual tax benefits associated with RSUs and RPUs that were greater than the estimated benefits).
	For the nine months ended September 30, 2014, Fortress recorded $3.0 million to paid in capital for excess tax benefits from RSUs delivered during the period and as a financing activity on the consolidated statements of cash flows.
	Based on the value of the RSUs and RPUs which vested during the nine months ended September 30, 2013, Fortress estimated tax shortfalls of $25.1 million which were charged to income tax expense during the period.
	The provision for income taxes consists of the following:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Current
	Federal income tax expense (benefit)	$	4,057		$	3,150		$	(395	)	$	(16,366	)
	Foreign income tax expense (benefit)	2,358			2,038			6,966			4,942
	State and local income tax expense (benefit)	939			1,712			1,937			612
		7,354			6,900			8,508			(10,812		)
	Deferred
	Federal income tax expense (benefit)	(4,065		)	6,777			6,548			45,327
	Foreign income tax expense (benefit)	432			(62		)	1,108			(22		)
	State and local income tax expense (benefit)	(697		)	1,179			770			7,743
		(4,330		)	7,894			8,426			53,048
	Total expense (benefit)	$	3,024		$	14,794		$	16,934		$	42,236
	The tax effects of temporary differences have resulted in deferred income tax assets and liabilities as follows:
		30-Sep-14			31-Dec-13
	Total deferred tax assets	$	421,907		$	421,027
	Less:
	Valuation allowance	(26,726		)	(49,805		)
	Deferred tax liabilities (A)	(9,880		)	(16,696		)
	Deferred tax assets, net	$	385,301		$	354,526
	(A)	The deferred tax liabilities primarily relate to timing differences in the recognition of income from compensatory options received from the publicly traded permanent capital vehicles. Deferred tax assets are shown net of deferred tax liabilities since they are both primarily of similar tax character and tax jurisdiction.
	The following table summarizes the change in the deferred tax asset valuation allowance:
	Valuation Allowance at December 31, 2013	$	49,805
	Changes due to FIG Corp. ownership change	(1,472		)
	Net decreases (A)	(21,607		)
	Valuation Allowance at September 30, 2014	$	26,726
	(A)	Primarily related to the write-off of certain fully reserved deferred tax assets associated with funds in the process of liquidation, offset by the change in the portion of the deferred tax asset that would be realized in connection with future capital gains.
	For the nine months ended September 30, 2014, a net deferred income tax provision of $0.4 million was credited to other comprehensive income, primarily related to the equity method investees. For the nine months ended September 30, 2014, a current income tax benefit of $0.6 million was credited to paid-in capital, related to dividend equivalent payments on RSUs (Note 9), as applicable, which are currently deductible for income tax purposes.
	FIG Corp. decreased its ownership in the underlying Fortress Operating Group entities during the nine months ended September 30, 2014 as a result of the purchase of Class A shares from Nomura. This decrease was offset by an increase from the delivery of vested RSUs (Note 8) and the offering of Class A shares and the repurchase of an equivalent number of outstanding Fortress Operating Group units and an equal number of Class B shares. As a result of this change in ownership and other factors, the deferred tax asset decreased by $11.4 million with an offsetting decrease of $2.4 million to the valuation allowance. In addition, the deferred tax asset was increased by $49.0 million related to a step-up in tax basis due to the repurchase of Fortress Operating Group units which will result in additional tax deductions, with an offsetting increase of $0.9 million to the valuation allowance, while the liability for the tax receivable agreement was increased by $39.1 million to represent 85% of the expected cash savings resulting from the increase in tax basis deductions.  The establishment of these net deferred tax assets, net of the change in the tax receivable agreement liability, also increased additional paid-in capital.
	Tax Receivable Agreement
	Although the tax receivable agreement payments are calculated based on annual tax savings, for the nine months ended September 30, 2014, the payments which would have been made pursuant to the tax receivable agreement, if such period was calculated by itself, were estimated to be $15.5 million. In addition, during the nine months ended September 30, 2014, the realization of certain tax benefits, which were previously offset by a valuation allowance, gave rise to a $4.0 million increase in the expected tax receivable agreement liability.
	Non-Investment Manager
	Income tax expense (benefit) consists of the following:
					Period from
		Three Months Ended			14-Feb-14
		30-Sep-14			30-Sep-14
	Current
	Federal income expense (benefit)	$	—		$	—
	State and local income expense (benefit)	—			—
		—			—
	Deferred
	Federal income expense (benefit)	2,495			1,365
	State and local income expense (benefit)	621			339
		3,116			1,704
	Total New Media income tax expense (benefit)	$	3,116		$	1,704
	The tax effects of temporary differences that give rise to significant portions of the net deferred tax liabilities, included in other liabilities, net on the consolidated balance sheets, as of September 30, 2014 are presented below:
		September 30, 2014
	Definite and indefinite lived intangible assets	$	78,605
	Net operating losses	102,258
	Other	25,337
	Total deferred tax assets	206,200
	Less:
	Valuation allowance	(169,533		)
	Deferred tax liabilities (A)	(38,371		)
	Deferred tax liabilities, net	$	(1,704	)
(A)	The deferred tax liabilities primarily relate to timing differences in the recognition of depreciation expense related to fixed assets. Deferred tax assets are shown net of deferred tax liabilities since they are both primarily of similar tax character and tax jurisdiction.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible.
For the period from February 14, 2014 to September 30, 2014, the valuation allowance increased by $4.8 million.
As of September 30, 2014, New Media had tax effected net operating loss carryforwards for federal and state income tax purposes of approximately $102.0 million, which are available to offset future taxable income, if any. These federal and state net operating loss carryforwards begin to expire on various dates from 2019 through 2033. The majority of the operating losses are subject to the limitations of Internal Revenue Code (the “Code”) Section 382. This section provides limitations on the availability of net operating losses to offset current taxable income if significant ownership changes have occurred for Federal tax purposes.
As of September 30, 2014, New Media had uncertain tax positions of $1.1 million which, if recognized, would impact the effective tax rate. New Media did not record significant amounts of interest and penalties related to uncertain tax positions for the period from February 14, 2014 to September 30, 2014.
New Media does not anticipate significant increases or decreases in its uncertain tax positions within the next twelve months. New Media recognizes penalties and interest relating to uncertain tax positions in the provision for income taxes. For the period from February 14, 2014 to September 30, 2014, New Media did not recognize any accrued interest or penalties. As of September 30, 2014, of the accrued uncertain tax positions, New Media has $0.3 million of interest and penalties accrued.
New Media files a U.S. federal consolidated income tax return for which the statute of limitations remains open for the 2010 tax year and beyond. U.S. state jurisdictions have statute of limitations generally ranging from 3 to 6 years.

RELATED_PARTY_TRANSACTIONS_AND

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES	'
	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES
	Investment Manager
	Affiliate Receivables and Payables
	Due from affiliates was comprised of the following:
		Private Equity						Liquid			Credit
					Permanent			Hedge			Hedge					Logan
		Funds			Capital Vehicles			Funds			Funds			PE Funds		Circle		Other		Total
	September 30, 2014
	Management fees and incentive income (A)	$	34,843		$	37,434		$	842		$	1,483		$	16,542	$	937	$	—	$	92,081
	Expense reimbursements (A)	1,332			4,723			6,906			7,965			7,322		156		—		28,404
	Expense reimbursements - FCF (B)	27,774			124			—			—			—		—		—		27,898
	Dividends and distributions	—			324			—			—			—		—		—		324
	Other	—			658			—			—			—		—		15,709		16,367
		$	63,949		$	43,263		$	7,748		$	9,448		$	23,864	$	1,093	$	15,709	$	165,074
		Private Equity									Credit
					Permanent			Hedge			Hedge					Logan
		Funds			Capital Vehicles			Funds			Funds			PE Funds		Circle		Other		Total
	December 31, 2013
	Management fees and incentive income (A)	$	40,456		$	21,701		$	89,400		$	144,749		$	18,143	$	689	$	—	$	315,138
	Expense reimbursements (A)	2,599			4,905			6,437			7,118			14,656		64		—		35,779
	Expense reimbursements - FCF (B)	42,872			100			—			—			—		—		—		42,972
	Dividends and distributions	—			405			—			—			—		—		—		405
	Other	—			698			—			—			4		—		12,128		12,830
		$	85,927		$	27,809		$	95,837		$	151,867		$	32,803	$	753	$	12,128	$	407,124
	(A)	Net of allowances for uncollectible management fees and expense reimbursements of $12.2 million and $6.5 million as of September 30, 2014, respectively, and of $12.2 million and $6.3 million as of December 31, 2013, respectively. Allowances are recorded as General and Administrative expenses. As of September 30, 2014, excludes $2.0 million of management fees due from New Media which are eliminated in consolidation.
	(B)	Represents expense reimbursements due to FCF, a consolidated VIE.
	As of September 30, 2014, amounts due from Fortress Funds recorded in Due from Affiliates included $33.6 million of past due management fees, excluding $12.2 million which has been fully reserved by Fortress, and $12.3 million of private equity general and administrative expenses advanced on behalf of certain Fortress Funds, excluding $6.5 million which has been fully reserved by Fortress. Although such funds are currently experiencing liquidity issues, Fortress believes the unreserved portion of these fees and reimbursable expenses will ultimately be collectible. The unreserved amounts are primarily due from a fund and the amount represents less than 5% of this fund's NAV.
	Due to affiliates was comprised of the following:
		30-Sep-14			31-Dec-13
	Principals - tax receivable agreement - Note 6	$	284,265		$	241,006
	Principals - Principal Performance Payments - Note 8	20,016			45,524
	Distributions payable on Fortress Operating Group units	—			5,160
	Other	8,437			11,345
	General partner liability - Note 10	43,471			41,797
		$	356,189		$	344,832
	Other Related Party Transactions
	For the nine months ended September 30, 2014 and 2013, Other Revenues included approximately $2.0 million and $1.3 million, respectively, of revenues from affiliates, primarily interest and dividends.
	During 2014, Fortress advanced $3.6 million to two of its senior employees who are not officers. These advances bear interest at LIBOR+4.00%. All principal and interest is due and payable no later than February 2018. In addition, three senior employees repaid advances aggregating $3.4 million.
	Principals’ and Others’ Interests in Consolidated Subsidiaries
	These amounts relate to equity interests in Fortress’s consolidated, but not wholly owned, subsidiaries, which are held by the Principals, employees, and others.
	This balance sheet caption was comprised of the following:
		30-Sep-14			31-Dec-13
	Fortress Operating Group units held by the Principals and one senior employee	$	519,780		$	725,424
	Employee interests in majority owned and controlled fund advisor and general partner entities	65,277			62,381
	Other	2,258			2,033
	Total	$	587,315		$	789,838
	The Fortress Operating Group portion of these interests is computed as follows:
		30-Sep-14			31-Dec-13
	Fortress Operating Group equity (Note 13)	$	1,602,695		$	1,489,701
	Less: Others' interests in equity of consolidated subsidiaries (Note 13)	(67,535		)	(64,414		)
	Non-controlling interests in equity of Investment Company -	(58,426		)	—
	consolidated VIEs
	Non-controlling interests in equity of Non-Investment	(479,516		)	—
	Manager - consolidated VIE
	Total Fortress shareholders' equity in Fortress Operating Group	$	997,218		$	1,425,287
	Fortress Operating Group units outstanding (A)	226,331,513			249,534,372
	Class A shares outstanding	208,004,183			240,741,920
	Total	434,335,696			490,276,292
	Fortress Operating Group as a percent of total (B)	52.1		%	50.9		%
	Equity of Fortress Operating Group units held by Principals and one senior	$	519,780		$	725,424
	employee
	(A)	Held by the Principals and one senior employee; exclusive of Class A shares.
	(B)	As a result, the Registrant owned 47.9% and 49.1% of Fortress Operating Group as of September 30, 2014 and December 31, 2013, respectively.
This statement of operations caption was comprised of shares of consolidated net income (loss) related to the following:
	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Fortress Operating Group units held by the Principals and	$	9,581		$	57,221		$	55,143		$	104,653
one senior employee
Employee interests in majority owned and controlled fund advisor and general partner entities	1,063			1,647			3,578			6,756
Other	198			(64		)	225			12
Total	$	10,842		$	58,804		$	58,946		$	111,421
The Fortress Operating Group portion of these interests is computed as follows:
	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Fortress Operating Group net income (loss) (Note 13)	$	14,314		$	113,449		$	96,966		$	208,076
Adjust:
Others' interests in net (income) loss of consolidated subsidiaries (Note 13)	(1,261		)	(1,583		)	(3,803		)	(6,768		)
Redeemable Non-controlling interests in (income) loss of Investment	2,042			—			1,885			—
Company - consolidated VIE
Non-controlling interests in (income) loss of Investment Company -	9			—			9			—
consolidated VIEs
Non-controlling interests in (income) loss of Non-Investment	3,014			—			10,305			—
Manager - consolidated VIE
Total Fortress shareholders' net income (loss) in Fortress Operating Group	$	18,118		$	111,866		$	105,362		$	201,308
Fortress Operating Group as a percent of total (A)	52.9		%	51.2		%	52.3		%	52		%
Fortress Operating Group net income (loss) attributable to the Principals and one senior employee	$	9,581		$	57,221		$	55,143		$	104,653
(A)	Represents the weighted average percentage of total Fortress shareholders' net income (loss) in Fortress Operating Group attributable to the Principals and one senior employee.
The purpose of this schedule is to disclose the effects of changes in Fortress’s ownership interest in Fortress Operating Group on Fortress’s equity:
	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net Income (loss) attributable to Class A shareholders	$	4,438		$	42,381		$	38,594		$	54,634
Transfers (to) from the Principals' and Others' Interests:
Increase in Fortress’s shareholders’ equity for the conversion of Fortress Operating Group units by the Principals and one senior employee	—			—			—			10,143
Increase in Fortress’s shareholders’ equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs	273			3,062			5,049			12,550
Increase in Fortress's shareholders' equity for the public offering of	—			—			53,510			—
Class A shares and repurchase of Class B shares and FOGUs
Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs	—			—			(101,156		)	—
Change from net income (loss) attributable to Fortress and transfers (to) from Principals’ and Others' Interests	$	4,711		$	45,443		$	(4,003	)	$	77,327

EQUITYBASED_AND_OTHER_COMPENSA

EQUITY-BASED AND OTHER COMPENSATION	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
EQUITY-BASED AND OTHER COMPENSATION	'
	EQUITY-BASED AND OTHER COMPENSATION
	Investment Manager
	Fortress’s total compensation and benefits expense, including Principal Performance Payments, is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Equity-based compensation, per below	$	11,251			$	8,671			$	29,584			$	28,648
	Profit-sharing expense, per below	53,383				29,540				159,131				194,091
	Discretionary bonuses	60,341				52,033				173,062				155,121
	Other payroll, taxes and benefits	62,274				56,213				182,105				161,731
		$	187,249			$	146,457			$	543,882			$	539,591
	Equity-Based Compensation
	The following tables set forth information regarding equity-based compensation activities.
		RSUs														Restricted Shares
		Employees							Non-Employees							Issued to Directors
		Number			Value (A)				Number			Value (A)				Number	Value (A)
	Outstanding at December 31, 2013	19,228,466			$	4.14			14,500			$	3.12			955,744	$	5.41
	Issued	8,340,227			7.19				237,498			7.18				89,390	7.38
	Transfers	(141,423	)		5.25				141,423			5.46				—	—
	Converted to Class A shares	(4,530,852	)		3.87				(7,437	)		3.28				—	—
	Forfeited	(1,468,490	)		3.89				—			—				—	—
	Outstanding at September 30, 2014 (B)	21,427,928			$	5.39			385,984			$	6.47			1,045,134	$	5.58
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Expense incurred (B)
	Employee RSUs	$	6,082			$	5,069			$	17,446			$	18,357
	Non-Employee RSUs	563				—				572				1
	Principal Performance Payments (C)	4,109				3,602				11,069				10,290
	Granted Class A Shares (D)	497				—				497				—
	Restricted Shares (E)	—				—				—				—
	Total equity-based compensation expense	$	11,251			$	8,671			$	29,584			$	28,648
	(A)	Represents the weighted average grant date estimated fair value per share or unit.
	(B)	In future periods, Fortress will further recognize compensation expense on its non-vested equity based awards outstanding as of September 30, 2014 of $62.7 million, with a weighted average recognition period of 2.3 years. This does not include contingent amounts.
	(C)	Accrued based on year-to-date performance; the actual number of RSUs granted are determined at year end. Based on year-to-date performance, a total of approximately 1.1 million RSUs would be awarded as Principal Performance Payments.
	(D)	Represents expense associated with vested Class A shares granted during the three months ended September 30, 2014.
	(E)	Certain restricted shares granted to directors are recorded in General and Administrative Expense ($0.3 million and $0.6 million for the nine months ended September 30, 2014 and 2013, respectively) and therefore are not included above.
	When Fortress records equity-based compensation expense it records a corresponding increase in capital.
	Fortress’s management reviewed the estimated forfeiture factor as of September 30, 2014 and, based on the actual forfeiture rate incurred and the remaining vesting period of certain grants, determined that the forfeiture assumptions for certain grants required adjustment. The result of these changes in estimates did not materially impact equity-based compensation expense.
	In January 2014, Fortress granted 3.2 million non-dividend paying RSUs to its employees and affiliates valued at an aggregate of $22.8 million on the grant date. These RSUs generally vest over three years.
	In February 2014, Fortress awarded 3.2 million dividend paying RSUs as Principal Performance Payments based on 2013 results valued at an aggregate of $25.8 million on the grant date. These RSUs vest over three years.
	The expense for Principal Performance Payments was comprised of the following:
		Nine Months Ended September 30, 2014
		Equity-Based				Profit Sharing				Total
		Compensation				Expense
	Private equity business	$	—			$	2,958			$	2,958
	Liquid hedge fund business	2,756				1,250				4,006
	Credit business	8,313				13,631				21,944
	Total	$	11,069			$	17,839			$	28,908
	Profit Sharing Expense
	Recognized profit sharing compensation expense (benefit) is summarized as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Private equity funds	$	—			$	—			$	303			$	2,135
	Permanent capital vehicles (A)	(1,751		)		(459		)		7,334				7,757
	Liquid hedge funds	10,256				(3,578		)		18,663				35,458
	Credit hedge funds	13,675				20,371				49,008				71,074
	Credit PE funds	26,419				9,480				65,984				53,570
	Principal Performance Payments (B)	4,784				3,726				17,839				24,097
	Total	$	53,383			$	29,540			$	159,131			$	194,091
	(A)	Includes the mark-to market impact on the tandem options related to the publicly traded permanent capital vehicles.
	(B)	Relates to all applicable segments. Accrued based on year-to-date performance; the actual payments due to each Principal are determined at year end.
	During the nine months ended September 30, 2014, 2,477 unvested Newcastle tandem options and 7,434 unvested New Residential tandem options, as adjusted for the reverse stock splits, were forfeited and the accrued compensation and related liability was reversed.
	Non-Investment Manager
	New Media 401(K) Plan
New Media maintains the New Media Investment Group, Inc. Retirement Savings Plan (the “New Media 401(k) Plan”), which is intended to be a qualified defined contribution plan with a cash or deferred arrangement under Section 401(k) of the Code. In general, eligible employees of New Media and participating affiliates who satisfy minimum age and service requirements are eligible to participate. Eligible employees can contribute amounts up to 100% of their eligible compensation to the New Media 401(k) Plan, subject to IRS limitations. The New Media 401(k) Plan also provides for discretionary matching and nonelective contributions that can be made in separate amounts among different allocation groups. For the period ended September 30, 2014, New Media’s matching contributions to the New Media 401(k) Plan were $0.4 million. New Media did not make nonelective contributions for the nine months ended September 30, 2014.
Stock Option and Incentive Award Plan
In February 2014, the Board of Directors of New Media adopted the New Media Investment Group Inc. Nonqualified Stock Option and Incentive Award Plan (the “Incentive Plan”).
Also in February 2014, the New Media Board adopted a form of the New Media Investment Group Inc. Non-Officer Director Restricted Stock Grant Agreement (the “Form Grant Agreement”) to govern the terms of awards of restricted stock (“New Media Restricted Stock”) granted under the Incentive Plan to directors who are not officers or employees of New Media (the “Non-Officer Directors”). The Form Grant Agreement provides for the grant of New Media Restricted Stock that vests in equal annual installments on each of the first, second and third anniversaries of the grant date, subject to the Non-Officer Director’s continued service as a member of the New Media Board, and immediate vesting in full upon his or her death or disability. If the non-officer director’s service terminates for any other reason, all unvested shares of New Media Restricted Stock will be forfeited. Any dividends or other distributions that are declared with respect to the shares of New Media Restricted Stock will be paid to the Non-Officer Director at the time such shares vest. On March 14, 2014, a grant of New Media restricted shares totaling 15,870 was made to New Media’s Non-Officer Directors with a grant date fair value of $0.2 million.

EARNINGS_PER_SHARE_AND_DISTRIB

EARNINGS PER SHARE AND DISTRIBUTIONS	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE AND DISTRIBUTIONS	'
	EARNINGS PER SHARE AND DISTRIBUTIONS
	Fortress's potentially dilutive equity instruments fall primarily into two general categories: (i) instruments that Fortress has issued as part of its compensation plan, and (ii) ownership interests in Fortress's subsidiary, Fortress Operating Group, that are owned by the Principals (and one senior employee) and are convertible into Class A shares. Based on the rules for calculating earnings per share, there are two general ways to measure dilution for a given instrument: (a) calculate the net number of shares that would be issued assuming any related proceeds are used to buy back outstanding shares (the treasury stock method), or (b) assume the gross number of shares are issued and calculate any related effects on net income available for shareholders (the if-converted and two-class methods). Fortress has applied these methods as prescribed by GAAP to each of its outstanding equity instruments as shown below.
	Substantially all of Fortress's business is conducted at the Fortress Operating Group (“FOG”) level and FOG’s net income (loss) is allocated pro rata between the Fortress Operating Group units held by the Registrant, on the one hand, and the Principals and one senior employee, on the other hand. The FOG income allocated to the Principals and one senior employee is not subject to corporate income tax. A substantial portion of the Registrant’s income is allocated to FIG Corp. and is subject to U.S federal and state income taxation (taxed at prevailing rates), while the remainder of the Registrant’s portion of FOG income is allocated directly to its shareholders and is not subject to a corporate level of taxation.
	The primary difference between basic and diluted earnings per share (“EPS”), if any, is income tax related. If the Principals and one senior employee converted all of their Fortress Operating Group units into Class A shares, their portion of FOG’s income would become subject to corporate level taxation. Certain permanent differences in the Registrant’s tax calculation are not based on FIG Corp.’s ownership percentage of FOG. Thus, the effective tax rate changes when more income or loss is allocated to FIG Corp. This change in the effective tax rate results in incremental per share income or loss in the diluted EPS calculation, depending on whether the Registrant has income tax expense or benefit for the period. The comparison of the Registrant’s effective tax rate and the if-converted tax rate determines the dilutive or anti-dilutive impact of the Fortress Operating Group units held by the Principals and one senior employee.
	The computations of basic and diluted net income (loss) per Class A share are set forth below:
		Three Months Ended September 30, 2014							Nine Months Ended September 30, 2014
		Basic				Diluted			Basic			Diluted
	Weighted average shares outstanding
	Class A shares outstanding	206,881,050				206,881,050			208,079,111			208,079,111
	Fully vested restricted Class A share units with dividend equivalent rights	88,508				88,508			1,789,026			1,789,026
	Fully vested restricted Class A shares	1,045,134				1,045,134			1,006,503			1,006,503
	Fortress Operating Group units exchangeable into	—				—			—			232,790,917
	Class A shares (1)
	Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2)	—				4,810,232			—			4,146,536
	Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3)	—				7,967,787			—			9,207,414
	Total weighted average shares outstanding	208,014,692				220,792,711			210,874,640			457,019,507
	Basic and diluted net income (loss) per Class A share
	Net income (loss) attributable to Class A shareholders	$	4,438			$	4,438		$	38,594		$	38,594
	Dilution in earnings due to fully vested restricted Class A share units with dividend equivalent rights treated as outstanding Fortress Operating Group units (4)	—				—			—			—
	Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2)	(686		)		(686		)	(1,100		)	(1,100		)
	Add back Principals' and others' interests in income of Fortress Operating Group, net of assumed income taxes at enacted rates, attributable to Fortress Operating Group units (1)	—				—			—			38,712
	Net income (loss) available to Class A shareholders	$	3,752			$	3,752		$	37,494		$	76,206
	Weighted average shares outstanding	208,014,692				220,792,711			210,874,640			457,019,507
	Basic and diluted net income (loss) per Class A share	$	0.02			$	0.02		$	0.18		$	0.17
		Three Months Ended September 30, 2013							Nine Months Ended September 30, 2013
		Basic				Diluted			Basic			Diluted
	Weighted average shares outstanding
	Class A shares outstanding	237,470,346				237,470,346			231,019,933			231,019,933
	Fully vested restricted Class A share units with dividend equivalent rights	982,225				982,225			2,821,011			2,821,011
	Fully vested restricted Class A shares	952,016				952,016			909,641			909,641
	Fortress Operating Group units and fully vested RPUs exchangeable into	—				249,534,372			—			252,789,561
	Class A shares (1)
	Class A restricted shares and Class A restricted share units granted to	—				2,771,059			—			2,067,969
	employees and directors (eligible for dividend and dividend
	equivalent payments) (2)
	Class A restricted share units granted to employees (not eligible for	—				10,381,148			—			9,954,355
	dividend and dividend equivalent payments) (3)
	Total weighted average shares outstanding	239,404,587				502,091,166			234,750,585			499,562,470
	Basic and diluted net income (loss) per Class A share
	Net income (loss) attributable to Class A shareholders	$	42,381			$	42,381		$	54,634		$	54,634
	Dilution in earnings due to RPUs treated as a participating security of	—				—			—			—
	Fortress Operating Group and fully vested restricted Class A share
	units with dividend equivalent rights treated as outstanding Fortress
	Operating Group units (4)
	Dividend equivalents declared on, and undistributed earnings allocated	(777		)		(777		)	(590		)	(590		)
	to, non-vested restricted Class A shares and restricted Class A share
	units (2)
	Add back Principals' and others' interests in income of Fortress	—				18,906			—			52,551
	Operating Group, net of assumed income taxes at enacted rates,
	attributable to Fortress Operating Group units and fully vested RPUs
	exchangeable into Class A shares (1)
	Net income (loss) available to Class A shareholders	$	41,604			$	60,510		$	54,044		$	106,595
	Weighted average shares outstanding	239,404,587				502,091,166			234,750,585			499,562,470
	Basic and diluted net income (loss) per Class A share	$	0.17			$	0.12		$	0.23		$	0.21
	-1	The Fortress Operating Group units and fully vested RPUs not held by Fortress (that is, those held by the Principals and one senior employee) are exchangeable into Class A shares on a one-to-one basis (fully vested RPUs would first have to be exchanged for Fortress Operating Group units and Class B shares). These units and fully vested RPUs are not included in the computation of basic earnings per share. These units and fully vested RPUs enter into the computation of diluted net income (loss) per Class A share when the effect is dilutive using the if-converted method, which includes the income tax effects of nondiscretionary adjustments to the net income (loss) attributable to Class A shareholders from assumed conversion of these units and fully vested RPUs. To the extent charges, particularly tax related charges, are incurred by the Registrant (i.e. not at the Fortress Operating Group level), the effect may be anti-dilutive. The final vesting of the RPUs occurred on January 1, 2013.
	-2	Restricted Class A shares granted to directors and certain restricted Class A share units granted to employees are eligible to receive dividend or dividend equivalent payments when dividends are declared and paid on Fortress’s Class A shares and therefore participate fully in the results of Fortress’s operations from the date they are granted. They are included in the computation of both basic and diluted earnings per Class A share using the two-class method for participating securities, except during periods of net losses.
	-3	Certain restricted Class A share units granted to employees are not entitled to dividend or dividend equivalent payments until they are vested and are therefore non-participating securities. These units are not included in the computation of basic earnings per share. They are included in the computation of diluted earnings per share when the effect is dilutive using the treasury stock method. The effect of the units on the calculation is generally anti-dilutive during periods of net losses. The weighted average restricted Class A share units which are not entitled to receive dividend or dividend equivalent payments outstanding were:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Share Units	13,592,852			14,766,136			13,167,782		15,761,068
	(4)	Fortress Operating Group RPUs are eligible to receive partnership distribution equivalent payments when distributions are declared and paid on Fortress Operating Group units. The RPUs represent a participating security of Fortress Operating Group and the resulting dilution in Fortress Operating Group earnings available to Fortress is reflected in the computation of both basic and diluted earnings per Class A share using the method prescribed for securities issued by a subsidiary. For purposes of the computation of basic and diluted earnings per Class A share, the fully vested restricted Class A share units with dividend equivalent rights are treated as outstanding Class A shares of Fortress and as outstanding partnership units of Fortress Operating Group.
	The Class B shares have no net income (loss) per share as they do not participate in Fortress’s earnings (losses) or distributions.  The Class B shares have no dividend or liquidation rights. Each Class B share, along with one Fortress Operating Group unit, can be exchanged for one Class A share, subject to certain limitations. The Class B shares have voting rights on a pari passu basis with the Class A shares.
	Fortress’s dividend paying shares and units were as follows:
	Weighted Average						Weighted Average
	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014		2013
Class A shares (public shareholders)	206,881,050			237,470,346			208,079,111		231,019,933
Restricted Class A shares (directors)	1,045,134			952,016			1,006,503		909,641
Restricted Class A share units (employees) (A)	88,508			982,225			1,789,026		2,821,011
Restricted Class A share units (employees) (B)	7,513,984			5,744,629			7,016,497		4,759,829
Fortress Operating Group units (Principals and one senior employee)	226,331,513			249,534,372			232,790,917		249,534,372
Fortress Operating Group RPUs (one senior employee)	—			—			—		3,255,189
Total	441,860,189			494,683,588			450,682,054		492,299,975
	As of September 30, 2014			As of December 31, 2013
Class A shares (public shareholders)	206,959,049			239,786,176
Restricted Class A shares (directors)	1,045,134			955,744
Restricted Class A share units (employees) (A)	103,684			6,704
Restricted Class A share units (employees) (B)	7,513,984			5,232,536
Fortress Operating Group units (Principals and one senior employee)	226,331,513			249,534,372
Total	441,953,364			495,515,532
(A)	Represents fully vested restricted Class A share units which are entitled to dividend equivalent payments.
(B)	Represents unvested restricted Class A share units which are entitled to dividend equivalent payments.
On February 13, 2014, Fortress entered into a purchase agreement with Nomura Investment Managers U.S.A. (“Nomura”) to acquire 60,568,275 Class A shares for $363.4 million. All of the purchased Class A shares (and underlying Fortress Operating Group units) were canceled and ceased to be outstanding. As part of the purchase agreement, Fortress agreed for each year, until the third anniversary of the date of the agreement, to engage Nomura and its affiliates to provide certain financial advisory and financing services and/or pay Nomura certain annual sums in lieu thereof equal to the difference, if any, between (i) $12.0 million minus (ii) all fees earned or received by Nomura for the services provided to Fortress and its affiliates during each year.
In connection with the agreement to engage Nomura and its affiliates as described above, Fortress recorded a liability (included in Investment Manager other liabilities on the consolidated balance sheet) of approximately $30.0 million, which has been recorded as a reduction to equity as part of the repurchase of Class A shares.
In March 2014, Fortress issued and sold 23,202,859 Class A shares for approximately $186.6 million. Fortress used all of the proceeds from the sale of the Class A shares to purchase from the Principals an equivalent number of outstanding Fortress Operating Group units and an equal number of Class B shares.
Dividends and distributions during the nine months ended September 30, 2014 are summarized as follows:
					Declared in Current Year
	Declared in Prior Year, Paid in Current Year				Declared and Paid			Declared but not yet Paid			Total
Dividends on Class A Shares	$	—			$	85,181		$	—		$	85,181
Dividend equivalents on restricted Class A share
units (A)	—				3,436			—			3,436
Distributions to Fortress Operating Group unit holders
(Principals and one senior employee) (B)	5,160				92,516			—			92,516
Total distributions	$	5,160			$	181,133		$	—		$	181,133
(A)	A portion of these dividend equivalents, if any, related to RSUs expected to be forfeited, is included as compensation expense in the consolidated statement of operations and is therefore considered an operating cash flow.
(B)	Fortress Operating Group made tax-related distributions to the FOG unit holders (the Principals and one senior employee).
On April 30, 2014, Fortress declared a first quarter cash dividend of $0.08 per Class A share. The dividend was payable on May 16, 2014 to holders of record of Class A shares on May 13, 2014. The aggregate amount of this dividend payment, including dividend equivalent payments paid to holders of restricted Class A share units, was $17.2 million.
On July 30, 2014, Fortress declared a base quarterly cash dividend of $0.08 per Class A share and a special cash dividend of $0.18 per Class A share resulting in total dividends of $0.26 per Class A share for the second quarter of 2014. The dividend was payable on August 15, 2014 to holders of record of Class A shares on August 12, 2014. The aggregate amount of this dividend payment, including dividend equivalent payments to holders of restricted Class A share units, was $56.0 million.
On October 30, 2014, Fortress declared a base quarterly cash dividend of $0.08 per Class A share. The dividend is payable on November 17, 2014 to holders of record of Class A shares on November 12, 2014. The aggregate amount of this dividend payment, including dividend equivalent payments to holders of restricted Class A share units, is approximately $17.2 million.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	Investment Manager
	Other than as described below, Fortress’s commitments and contingencies remain materially unchanged from December 31, 2013.
	General Partner Liability — Certain of Fortress’s consolidated subsidiaries act as the general partner of various Fortress Funds and accordingly have potentially unlimited liability for the obligations of the funds under applicable partnership law principles.  In the event that any such fund was to fall into a negative net equity position (Note 3), the full amount of the negative net equity would be recorded on the balance sheet of the general partner entity. Such amount would be recorded on the Fortress balance sheet in consolidation until it is legally resolved. While these entities are limited liability companies and generally have no material assets other than their general partner interests, these entities and Fortress may be subject to litigation in connection with such amounts if fund creditors choose to sue Fortress to seek repayment.  See “Litigation” below.
	In March 2011, a private equity fund fell into a negative equity position, after considering all of Fortress’s interests in such fund and its reserves related thereto. As described above, the amount of the negative equity was recorded, through earnings (losses) from equity method investees, by the general partner entity and is therefore included in the consolidated financial statements of Fortress. When the fund matures and is liquidated, Fortress will record a gain in the event and to the extent it does not fund this negative equity. The amount of negative equity recorded at September 30, 2014 was $43.5 million.
	Litigation — Fortress is, from time to time, a defendant in legal actions from transactions conducted in the ordinary course of business. Management, after consultation with legal counsel, believes the ultimate liability arising from such actions that existed as of September 30, 2014, individually and in the aggregate, will not materially affect Fortress’s results of operations, liquidity or financial position.
	In some cases, Fortress is named as a defendant in legal actions pertaining to one of the Fortress Funds and/or their portfolio companies. In such cases, Fortress is generally indemnified by the fund against potential losses arising from Fortress’s role as investment manager.
	Private Equity Fund, Private Permanent Capital Vehicle and Credit PE Fund Capital Commitments — Fortress has remaining capital commitments, which aggregated $149.1 million as of September 30, 2014, primarily to certain of the Fortress Funds. These commitments can be drawn by the funds on demand.
	Minimum Future Rentals — Fortress is a lessee under operating leases for office space located in a number of locations worldwide.
	Minimum future rental payments (excluding expense escalations) under these leases are as follows:
	October 1, 2014 to December 31, 2014	$	6,543
	2015	25,836
	2016	23,404
	2017	3,432
	2018	937
	2019	371
	Thereafter	—
	Total	$	60,523
	Rent expense, including operating expense escalations, for the Investment Manager during the nine months ended September 30, 2014 and 2013 was $17.5 million and $17.9 million, respectively, and was included in general, administrative and other expense on the consolidated statements of operations.
	Non-Investment Manager
	Minimum future rental payments (excluding expense escalations) related to New Media’s non-cancelable operating lease commitments are as follows:
	October 1, 2014 to December 31, 2014	$	1,726
	2015	6,103
	2016	4,228
	2017	4,116
	2018	3,199
	2019	1,253
	Thereafter	3,376
	Total minimum lease payments	$	24,001
	Rent expense under operating leases for New Media for the period from February 14, 2014 to September 30, 2014 was $4.2 million and was primarily included in operating costs on the consolidated statements of operations.
	In addition to minimum lease payments, certain leases require payment of the excess of various percentages of gross revenue or net operating income over the minimum rental payments. The leases generally require the payment of taxes assessed against the leased property and the cost of insurance and maintenance. The lease terms typically range from 1 to 10 years with the longest term of 99 years, and typically, the leases contain renewal options. Certain office space leases provide for rent adjustments relating to changes in real estate taxes and other operating costs. These scheduled rent increases are recognized on a straight-line basis over the term of the lease, resulting in an accrual, which is included in accrued expenses, for the amount by which the cumulative straight-line rent exceeds the contractual cash rent.
	Litigation
	New Media becomes involved from time to time in claims and lawsuits incidental to the ordinary course of its business, including with respect to such matters as libel, invasion of privacy, intellectual property infringement, wrongful termination actions, and complaints alleging employment discrimination. In addition, New Media is involved from time to time in governmental and administrative proceedings concerning employment, labor, environmental and other claims. Insurance coverage maintained by New Media mitigates potential loss for certain of these matters. While management is unable to predict the ultimate outcome of any currently outstanding legal actions, it is the opinion of management that it is a remote possibility that the disposition of these matters would have a material adverse effect upon the consolidated results of operations, financial condition or cash flow.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT REPORTING	'
	SEGMENT REPORTING
	Fortress conducts its management and investment business through the following primary segments: (i) private equity funds, (ii) permanent capital vehicles, (iii) liquid hedge funds, (iv) credit hedge funds, (v) credit PE funds, and (vi) Logan Circle.
	In the third quarter of 2014, Fortress reorganized its segments by:
	-1	Reclassifying its investments in and resulting pre-tax distributable earnings from the Fortress Funds, which were previously presented under the principal investments segment, to each of the other segments that the investment relates to, and
	-2	Reclassifying one of its private equity funds, Worldwide Transportation and Infrastructure Investors ("WWTAI"), from its private equity funds segment to its permanent capital vehicles segment, as Fortress expects that WWTAI will become a publicly traded company externally managed by Fortress.
	The reclassifications were made to reflect changes in the way the business is reviewed and assessed by Fortress's chief operating decision maker ("CODM"). All of Fortress’s internal reports have been changed to reflect this reorganization and Fortress’s allocable expenses are now allocated amongst the segments based on this reorganization. Prior period amounts have been reclassified to reflect the segment reorganization described above.
	For segment results of operations, the amounts not allocated to a segment consist primarily of interest expense, foreign currency translation and interest income. Assets not allocated to a segment consist primarily of cash and net deferred tax assets.
	“Distributable earnings” is a measure of operating performance used by management in analyzing its segment and overall results. For the existing Fortress businesses it is equal to net income (loss) attributable to Fortress’s Class A shareholders adjusted as follows:
	Incentive Income
	(i)            a.	for Fortress Funds which are private equity funds, a private permanent capital vehicle and credit PE funds, adding (a) incentive income paid (or declared as a distribution) to Fortress, less an applicable reserve for potential future clawbacks if the likelihood of a clawback is deemed greater than remote by Fortress’s chief operating decision maker (net of the reversal of any prior such reserves that are no longer deemed necessary), minus (b) incentive income recorded in accordance with GAAP,
	b.	for other Fortress Funds, at interim periods, adding (a) incentive income on an accrual basis as if the incentive income from these funds were payable on a quarterly basis, minus (b) incentive income recorded in accordance with GAAP,
	c.	adding the incentive income earned by Fortress in connection with New Media and the Investment Company, which is eliminated under GAAP as a result of the consolidation of New Media and the Investment Company,
	Other Income
	(ii)	with respect to income from certain investments in the Fortress Funds and certain other interests or assets that cannot be readily transferred or redeemed:
	a.	for equity method investments in the private equity funds, private permanent capital vehicle and credit PE funds as well as indirect equity method investments in hedge fund special investment accounts (which generally have investment profiles similar to private equity funds), treating these investments as cost basis investments by adding (a) realizations of income, primarily dividends, from these funds, minus (b) impairment with respect to these funds, if necessary, minus (c) equity method earnings (or losses) recorded in accordance with GAAP,
	b.	subtracting gains (or adding losses) on stock options held in the publicly traded permanent capital vehicles,
	c.	subtracting unrealized gains (or adding unrealized losses) on derivatives, direct investments in publicly traded portfolio companies and in the publicly traded permanent capital vehicles,
	d.	adding equity method earnings (or losses) earned by Fortress in connection with the Investment Company, which is eliminated under GAAP,
	(iii)	adding (a) proceeds from the sale of shares received pursuant to the exercise of stock options in certain of the publicly traded permanent capital vehicles, in excess of their strike price, minus (b) management fee income recorded in accordance with GAAP in connection with the receipt of these options,
	(iv)	adding the management fee income earned by Fortress in connection with New Media and the Investment Company, which is eliminated under GAAP as a result of the consolidation of New Media and the Investment Company,
	Expenses
	(v)	adding or subtracting, as necessary, the employee profit sharing in incentive income described in (i) above to match the timing of the expense with the revenue,
	(vi)	adding back equity-based compensation expense (including publicly traded permanent capital vehicle options assigned to employees, RSUs and RPUs (including the portion of related dividend and distribution equivalents recorded as compensation expense), and restricted shares),
	(vii)	adding or subtracting, as necessary, any changes in the fair value of contingent consideration payable with respect to the acquisition of a business, to the extent management intends to pay it in equity and it is recorded on the statement of operations under GAAP,
	(viii)	adding back the amortization of intangible assets and any impairment of goodwill or intangible assets recorded under GAAP,
	(ix)	adding back compensation expense recorded in connection with the forfeiture arrangements entered into among the principals, which expired in December 2011,
	(x)	adding the income (or subtracting the loss) allocable to the interests in consolidated subsidiaries attributable to Fortress Operating Group units,
	(xi)	subtracting the income (or adding the loss) of the Non-Investment Manager and Investment Company allocable to the Class A shareholders, and
	(xii)	adding back income tax benefit or expense and any income or expense recorded in connection with the tax receivable agreement (Note 6).
	Fund management DE is equal to distributable earnings excluding investment-related results (specifically, investment income (loss) and interest expense) and is used by management to measure performance of the operating (management) business on a stand-alone basis. As such, fund management DE is presented with the Non-Investment Manager business and Investment Company on an unconsolidated basis. Fortress defines its segment operating margin to be equal to fund management DE divided by segment revenues.
	Total segment assets are equal to total GAAP assets adjusted for:
	(i)	any difference between the GAAP carrying amount of equity method investments and their carrying amount for segment reporting purposes, which is generally fair value for publicly traded investments and net asset value for nonpublic investments,
	(ii)	employees’ and others’ portions of investments, which are reported gross for GAAP purposes (as assets offset by Principals’ and others’ interests in equity of consolidated subsidiaries) but net for segment reporting purposes,
	(iii)	Fortress's investments in the Non-Investment Manager and Investment Company and receivables due to Fortress in connection with the related management agreements,
	(iv)	total assets of the Non-Investment Manager and Investment Company,
	(v)	the difference, if any, between the GAAP carrying amount of intangible assets and goodwill and their carrying amount for segment reporting purposes resulting from the distributable earnings adjustments listed above, and
	(vi)	at interim periods, the accrued incentive income recorded for distributable earnings purposes in relation to the incentive income reconciling item in (i)(b) above.
	Distributable Earnings Impairment
	Clawback Reserve on Incentive Income for DE Purposes
	Fortress had recognized incentive income for DE purposes from certain private equity funds, credit PE funds and the private permanent capital vehicle, which are subject to contingent clawback, as of September 30, 2014:
	Fund (A)		Net Intrinsic Clawback (B)			Periods in Intrinsic Clawback		Prior Year End Inception-to-Date Net DE Reserve				Current				Current				Inception-to-Date Net DE Reserve				Notes
												Year-to-Date Gross DE Reserve (Reversal)				Year-to-Date Net DE Reserve (Reversal)
	Fund II		$	—		N/A		$	1,334			$	(1,999	)		$	(1,334	)		$	—			(C)
	Fund III		45,108			27 Quarters		45,108				—				—				45,108				(D)
	FRID		—			N/A		10,041				(16,447		)		(10,041		)		—				(E)
	Total		$	45,108				$	56,483			$	(18,446	)		$	(11,375	)		$	45,108
	(A)	Fortress has recognized incentive income for DE purposes from the following funds, which do not have intrinsic clawback and for which Fortress's CODM has determined no clawback reserve is necessary: WWTAI, Credit Opportunities Fund, Credit Opportunities Fund II, Credit Opportunities Fund III, certain FCO Managed Accounts, Real Estate Opportunities Fund, Real Estate Opportunities REOC Fund, Net Lease Fund I, Japan Opportunity Fund and Global Opportunities Fund.
	(B)	See Note 3.
	(C)	The previously recorded reserves with respect to this fund exceeded its net intrinsic clawback by approximately $1.3 million immediately prior to March 31, 2014. Based on the criteria determined by the CODM, management determined that a net reversal of $1.3 million of clawback reserve was appropriate for the three months ended March 31, 2014. The fund is in process of liquidation and no clawback exists as of September 30, 2014.
	(D)	The potential clawback on this fund has been fully reserved in prior periods.
	(E)	During the second quarter of 2014, Fortress returned all prior net incentive income distributions received from the fund. The fund is in liquidation and no clawback exists as of September 30, 2014.
	Impairment Determination and Embedded Gain/Loss
	During the nine months ended September 30, 2014, Fortress recorded $2.7 million of impairment on its direct and indirect investments in its funds for segment reporting purposes. During the three months ended September 30, 2014, Fortress recognized an impairment charge of $11.5 million related to its holdings of digital currency (Bitcoin). As of September 30, 2014, Fortress had $4.6 million of unrealized losses on certain investments that have not been recorded as impairment. As of September 30, 2014, Fortress’s share of the net asset value of its direct and indirect investments exceeded its segment cost basis by $572.3 million, representing net unrealized gains.
	During the nine months ended September 30, 2014, Fortress recorded an aggregate net reversal of $1.3 million of clawback reserve for DE purposes.
	Fortress expects aggregate returns on its private equity funds and credit PE funds that are in an unrealized investment loss or intrinsic clawback position, after taking reserves into account, to ultimately exceed their carrying amount or breakeven point, as applicable. If such funds were liquidated at their September 30, 2014 NAV (although Fortress has no current intention of doing so), the result would be additional impairment losses and reserves for DE purposes of approximately $4.6 million.
	Embedded Incentive Income
	As of September 30, 2014, Fortress had $1,025.6 million of gross undistributed incentive income (Note 3), or $958.7 million net of intrinsic clawback. Of the $1,025.6 million, $77.1 million has been recognized in distributable earnings. This amount represents accrued hedge fund incentive income recorded during the nine months ended September 30, 2014.
	In addition, if Fortress had exercised all of its in-the-money Newcastle, New Residential, and Eurocastle options (Note 4) and sold all of the resulting shares at their September 30, 2014 closing price, it would have recorded $64.0 million of gross additional distributable earnings, or $55.7 million net of employee interests.
	Segment Results of Operations
	Summary financial data on Fortress’s segments is presented on the following pages, together with a reconciliation to revenues, assets and net income (loss) for Fortress as a whole. Fortress’s investments in, and earnings (losses) from, its equity method investees by segment are presented in Note 4.
	September 30, 2014 and the Nine Months Then Ended
		Private Equity
					Permanent				Liquid				Credit
	Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
Segment revenues
Management fees	$	104,552		$	50,434			$	103,373			$	84,129			$	71,898			$	34,328			$	—			$	448,714
Incentive income	2,854			40,676				2,627				102,977				120,261				178				—				269,573
Segment revenues - total	$	107,406		$	91,110			$	106,000			$	187,106			$	192,159			$	34,506			$	—			$	718,287
Fund management distributable	$	69,286		$	27,232			$	19,841			$	87,095			$	49,217			$	(5,192	)		$	—			$	247,479
earnings (loss) before Principal
Performance Payments (B)
Fund management distributable	$	69,286		$	24,274			$	18,591			$	74,854			$	47,827			$	(5,192	)		$	—			$	229,640
earnings (loss)
Pre-tax distributable earnings (loss)	$	163,851		$	25,901			$	12,191			$	72,626			$	54,021			$	(4,476	)		$	(1,497	)		$	322,617
Total segment assets	$	788,798		$	147,344			$	222,841			$	121,747			$	260,029			$	60,561			$	784,222		(A)	$	2,385,542
(A)	Unallocated assets includes cash of $322.4 million and net deferred tax assets of $385.3 million.
Three Months Ended September 30, 2014
	Private Equity
				Permanent				Liquid				Credit
	Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
Segment revenues
Management fees	$	33,638		$	17,934			$	33,733			$	28,796			$	23,571			$	12,280			$	—			$	149,952
Incentive income	—			15,936				1,339				28,846				41,489				178				—				87,788
Segment revenues - total	$	33,638		$	33,870			$	35,072			$	57,642			$	65,060			$	12,458			$	—			$	237,740
Fund management distributable	$	18,677		$	6,708			$	4,334			$	26,872			$	16,410			$	(1,660	)		$	—			$	71,341
earnings (loss) before Principal
Performance Payments (B)
Fund management distributable	$	18,677		$	6,534			$	4,051			$	22,862			$	16,094			$	(1,660	)		$	—			$	66,558
earnings (loss)
Pre-tax distributable earnings (loss)	$	18,701		$	7,133			$	(5,006	)		$	17,968			$	18,044			$	(1,804	)		$	(714	)		$	54,322
(B)	See Note 8. Fund management distributable earnings (loss) is only reduced for the profit sharing component of the Principal Performance Payments.
Nine Months Ended September 30, 2013
	Private Equity
				Permanent				Liquid				Credit
	Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
Segment revenues
Management fees	$	99,566		$	45,996			$	79,380			$	75,435			$	71,218			$	25,859			$	—			$	397,454
Incentive income	9,181			7,299				97,324				140,840				102,148				—				—				356,792
Segment revenues - total	$	108,747		$	53,295			$	176,704			$	216,275			$	173,366			$	25,859			$	—			$	754,246
Fund management distributable	$	72,883		$	20,801			$	86,543			$	100,678			$	44,861			$	(7,605	)		$	—			$	318,161
earnings (loss) before Principal
Performance Payments (B)
Fund management distributable	$	72,883		$	19,912			$	77,890			$	86,845			$	44,139			$	(7,605	)		$	—			$	294,064
earnings (loss)
Pre-tax distributable earnings (loss)	$	80,095		$	20,828			$	80,665			$	91,715			$	50,391			$	(6,043	)		$	(4,479	)		$	313,172
Three Months Ended September 30, 2013
	Private Equity							Liquid				Credit
	Funds			Permanent Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
Segment revenues
Management fees	$	33,810		$	14,215			$	30,634			$	25,481			$	23,669			$	8,833			$	—			$	136,642
Incentive income	1,544			6,099				(27,387		)		44,194				17,789				—				—				42,239
Segment revenues - total	$	35,354		$	20,314			$	3,247			$	69,675			$	41,458			$	8,833			$	—			$	178,881
Fund management distributable	$	24,095		$	7,996			$	(11,923	)		$	32,844			$	7,442			$	(3,320	)		$	—			$	57,134
earnings (loss) before Principal
Performance Payments (B)
Fund management distributable	$	24,095		$	7,107			$	(10,730	)		$	28,940			$	7,318			$	(3,320	)		$	—			$	53,410
earnings (loss)
Pre-tax distributable earnings (loss)	$	30,717		$	7,403			$	(9,769	)		$	30,567			$	8,436			$	(1,758	)		$	(558	)		$	65,038
Reconciling items between segment measures and GAAP measures:
	Three Months Ended September 30,							Nine Months Ended September 30,
	2014			2013				2014				2013
Fund management distributable earnings	$	66,558		$	53,410			$	229,640			$	294,064
Investment income (loss)	(11,405		)	12,412				95,347				23,870
Interest expense	(831		)	(784		)		(2,370		)		(4,762		)
Pre-tax distributable earnings	54,322			65,038				322,617				313,172
Adjust incentive income
Incentive income received from private equity funds, the private permanent capital vehicle and credit PE funds, subject to contingent repayment	(41,706		)	(17,790		)		(121,333		)		(107,963		)
Incentive income received from third parties, subject to	(565		)	—				(652		)		—
contingent repayment
Incentive income accrued from private equity funds, the private permanent capital vehicle and credit PE funds, not subject to contingent repayment	13,416			15,883				66,778				50,262
Incentive income from hedge funds and Logan Circle, subject to annual performance achievement	(20,817		)	5,973				(77,095		)		(185,858		)
Incentive income received from the sale of shares related to options	(6,833		)	(1,921		)		(8,318		)		(1,921		)
Reserve for clawback, gross (see discussion above)	—			(1,544		)		(1,999		)		(3,367		)
	(56,505		)	601				(142,619		)		(248,847		)
Adjust other income
Distributions of earnings from equity method investees**	(5,540		)	(3,685		)		(61,890		)		(12,529		)
Earnings (losses) from equity method investees**	37,635			57,532				74,850				116,748
Equity method (earnings) losses earned by Fortress in the Investment Company	3,200			—				2,974				—
Gains (losses) on options in equity method investees	(23,127		)	3,488				(28,999		)		27,233
Gains (losses) on other investments	15,585			(3,178		)		(31,046		)		9,358
Impairment of investments (see discussion above)	2,635			380				2,695				1,107
Adjust income from the receipt of options	1,743			—				3,346				36,470
	32,131			54,537				(38,070		)		178,387
Adjust employee, Principal and director compensation
Adjust employee, Principal and director equity-based compensation expense	(1,307		)	(6,415		)		(22,438		)		(34,769		)
(including publicly traded permanent capital vehicle options assigned)
Adjust employee portion of incentive income from private equity funds, the private permanent capital vehicle and credit PE funds, accrued prior to the realization of incentive income	(4,945		)	555				(1,771		)		1,210
	(6,252		)	(5,860		)		(24,209		)		(33,559		)
Adjust amortization of intangible assets and impairment of goodwill and intangible	(12		)	(12		)		(34		)		(34		)
assets
Adjust non-controlling interests related to Fortress Operating Group units	(9,581		)	(57,221		)		(55,143		)		(104,653		)
Adjust tax receivable agreement liability	(4,036		)	—				(4,036		)		(7,739		)
Adjust income taxes - Investment Manager	(2,972		)	(14,702		)		(16,919		)		(42,093		)
Adjust consolidated Non-Investment Manager income (loss) allocable to Class A	543			—				(19		)		—
Shareholders
Adjust consolidated Investment Company income (loss) allocable to	(3,200		)	—				(2,974		)		—
Class A Shareholders
Total adjustments	(49,884		)	(22,657		)		(284,023		)		(258,538		)
Net Income (Loss) Attributable to Class A Shareholders	4,438			42,381				38,594				54,634
Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries	10,842			58,804				58,946				111,421
Redeemable non-controlling interests in Income (Loss) of Consolidated Investment	(2,042		)	—				(1,885		)		—
Company
Non-controlling interest in Income (Loss) of Consolidated Investment Company	(9		)	—				(9		)		—
Non-controlling interests in Income (Loss) of Consolidated Non-Investment	(3,014		)	—				(10,305		)		—
Manager
Net Income (Loss) (GAAP)	$	10,215		$	101,185			$	85,341			$	166,055
** This adjustment relates to all of the private equity, permanent capital vehicle and credit PE Fortress Funds and hedge fund special investment accounts in which Fortress has an investment.
	September 30, 2014
Total Segment Assets	$	2,385,542
Adjust equity investments from segment carrying amount	(38,699		)
Adjust investments gross of employees' and others' portion	34,460
Adjust intangible assets to cost	(22,790		)
Accrued incentive income subject to annual performance achievement	(77,095		)
Less: Fortress's investment in and receivables from Non-Investment Manager - consolidated VIE	(6,474		)
Less: Fortress's investment in and receivables from Investment Company - consolidated VIEs	(47,582		)
Add: Total assets of consolidated Non-Investment Manager	822,977
Add: Total assets of consolidated Investment Company	192,206
Total assets (GAAP)	$	3,242,545
	Three Months Ended September 30,							Nine Months Ended September 30,
	2014			2013				2014				2013
Segment revenues	$	237,740		$	178,881			$	718,287			$	754,246
Adjust management fees	252			313				979				565
Adjust management fees for Non-Investment Manager -	(1,498		)	—				(3,727		)		—
consolidated VIE
Adjust management fees for Investment Company	—			—				—				—
- consolidated VIEs
Adjust incentive income	(56,505		)	601				(142,909		)		(248,847		)
Adjust income from the receipt of options	1,743			—				3,346				36,470
Adjust other revenues (including expense	56,771			52,224				167,704				157,014
reimbursements)*
Add: Total revenues - consolidated Non-Investment	165,061			—				397,315				—
Manager
Add: Total revenues - consolidated Investment Company	196			—				244				—
Total revenues (GAAP)	$	403,760		$	232,019			$	1,141,239			$	699,448
* Segment revenues do not include GAAP other revenues, except to the extent they represent management fees or incentive income; such revenues are included elsewhere in the calculation of distributable earnings.
Fortress’s depreciation and amortization expense by segment prior to the allocation of corporate and intra-segment depreciation and amortization expense to the business segments was as follows. Amortization expense, related to intangible assets, is not a component of distributable earnings.
		Private Equity							Liquid				Credit
Three Months Ended September 30,		Funds			Permanent Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Corporate				Total
2014
Depreciation		$	396		$	208			$	2,027			$	1,280			$	304			$	83			$	687			$	4,985
Amortization		—			—				—				—				—				12				—				12
Total		$	396		$	208			$	2,027			$	1,280			$	304			$	95			$	687			$	4,997
2013
Depreciation		$	393		$	159			$	582			$	1,416			$	89			$	68			$	782			$	3,489
Amortization		—			—				—				—				—				12				—				12
Total		$	393		$	159			$	582			$	1,416			$	89			$	80			$	782			$	3,501
Nine Months Ended September 30,
2014
Depreciation		$	1,176		$	604			$	5,254			$	4,058			$	779			$	252			$	2,178			$	14,301
Amortization		—			—				—				—				—				34				—				34
Total		$	1,176		$	604			$	5,254			$	4,058			$	779			$	286			$	2,178			$	14,335
2013
Depreciation		$	1,132		$	432			$	1,561			$	4,173			$	238			$	192			$	2,332			$	10,060
Amortization		—			—				—				—				—				34				—				34
Total		$	1,132		$	432			$	1,561			$	4,173			$	238			$	226			$	2,332			$	10,094

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	These financial statements include a discussion of material events, if any, which have occurred subsequent to September 30, 2014 (referred to as “subsequent events”) through the issuance of these consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.
	In October 2014, Newcastle announced that its board of directors set a distribution date of November 6, 2014 for the common shares of New Senior Investment Group Inc. ("New Senior", NYSE: SNR) to its shareholders. Fortress will enter into a management agreement as of the distribution date with New Senior in which it will receive an annual management fee of 1.5% of the company's equity (as defined in the agreement) and incentive compensation (as defined in the agreement). Additionally, as of September 30, 2014, Fortress manages 22 senior living properties which are owned by New Senior for which Fortress receives management fees ranging from 6% to 7% of revenues (as defined in the agreements) and reimbursement of certain expenses, including the compensation expense of all on-site employees. Fortress determined that New Senior will qualify as a variable interest entity and, upon the completion of Newcastle's distribution of New Senior's common shares, Fortress determined that it will be the primary beneficiary. As a result, Fortress will consolidate New Senior as of the date of distribution.
	For additional subsequent events, see Notes 4 and 9.

CONSOLIDATING_FINANCIAL_INFORM

CONSOLIDATING FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2014
Consolidating Financial Information	'
CONSOLIDATING FINANCIAL INFORMATION	'
	CONSOLIDATING FINANCIAL INFORMATION
	The following consolidating financial information presents the balance sheet, statement of operations and statement of cash flows for Fortress Operating Group (on a combined basis), FOE II (New) LP, Certain Consolidated Entities (Non-Investment Manager and Investment Company) and Fortress Investment Group LLC (including its consolidated subsidiaries other than those within Fortress Operating Group) on a deconsolidated basis, as well as the related eliminating entries for intercompany balances and transactions, which sum to Fortress Investment Group’s consolidated financial statements as of, and for the nine months ended September 30, 2014.
	Fortress Operating Group includes all of Fortress’s operating and investing entities. The upper tier Fortress Operating Group entities, other than FOE II (New) LP, are the obligors on Fortress’s credit agreement (Note 5). Segregating the financial results of this group of entities provides a more transparent view of the capital deployed in Fortress’s businesses as well as the relevant ratios for borrowing entities.
	The consolidating balance sheet information is as follows:
		As of September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
	Assets
	Investment Manager
	Cash and cash equivalents	$	330,980			$	678			$	—		$	—			$	500			$	—		$	332,158
	Due from affiliates	167,338				2,498				—			(4,762		)		—				—			165,074
	Investments	1,148,279				2,175				—			(50,499		)		477,438				(477,438		)	1,099,955
	Investments in options	73,458				—				—			(3,207		)		—				—			70,251
	Deferred tax asset, net	—				—				—			—				385,301				—			385,301
	Other assets	162,127				2,200				—			—				10,296				—			174,623
	Investment Company - consolidated VIEs
	Cash and cash equivalents	—				—				16,604			—				—				—			16,604
	Receivables from brokers and	—				—				40,825			—				—				—			40,825
	counterparties
	Investments, at fair value	—				—				133,857			—				—				—			133,857
	Other assets	—				—				920			—				—				—			920
		1,882,182				7,551				192,206			(58,468		)		873,535				(477,438		)	2,419,568
	Non-Investment Manager -
	consolidated VIE
	Cash and cash equivalents	—				—				135,063			—				—				—			135,063
	Fixed assets, net	—				—				290,481			—				—				—			290,481
	Goodwill	—				—				125,407			—				—				—			125,407
	Intangible assets, net	—				—				155,133			—				—				—			155,133
	Other assets, net	—				—				116,893			—				—				—			116,893
		—				—				822,977			—				—				—			822,977
	Total Assets	$	1,882,182			$	7,551			$	1,015,183		$	(58,468	)		$	873,535			$	(477,438	)	$	3,242,545
	Continued on next page.
		As of September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
	Liabilities and Equity
	Investment Manager
	Accrued compensation and benefits	$	266,221			$	2,839			$	—		$	—			$	—			$	—		$	269,060
	Due to affiliates	71,924				2,273				—			(2,273		)		284,265				—			356,189
	Deferred incentive income	283,684				—				—			—				—				—			283,684
	Debt obligations payable	75,000				—				—			—				—				—			75,000
	Other liabilities	117,215				92				—			—				(1,194		)		—			116,113
	Investment Company - consolidated VIEs
	Due to brokers and counterparties	—				—				12,577			—				—				—			12,577
	Securities sold not yet purchased,	—				—				37,258			—				—				—			37,258
	at fair value
	Other liabilities	—				—				1,980			(503		)		—				—			1,477
		814,044				5,204				51,815			(2,776		)		283,071				—			1,151,358
	Non-Investment Manager -
	consolidated VIE
	Deferred revenue	—				—				36,125			—				—				—			36,125
	Debt obligations payable	—				—				232,275			—				—				—			232,275
	Accrued expenses and other	—				—				74,165			(1,986		)		—				—			72,179
	liabilities
		—				—				342,565			(1,986		)		—				—			340,579
	Total Liabilities	814,044				5,204				394,380			(4,762		)		283,071				—			1,491,937
	Commitments and Contingencies
	Redeemable Non-controlling Interests,	—				—				—			34,887				—				—			34,887
	Investment Company - consolidated
	VIE
	Equity
	Paid-in capital	5,741,427				5,597				635,997			(638,194		)		2,004,828				(5,744,827		)	2,004,828
	Retained earnings (accumulated	(4,734,622		)		(3,250		)		(15,194		)	11,659				(1,412,494		)		4,741,407			(1,412,494		)
	deficit)
	Accumulated other comprehensive	(6,202		)		—				—			—				(1,870		)		6,202			(1,870		)
income (loss)
Total Fortress shareholders' equity	1,000,603				2,347				620,803			(626,535		)		590,464				(997,218		)	590,464
(D)
Principals' and others' interests in	67,535				—				—			—				—				519,780			587,315
equity of consolidated
subsidiaries
Non-controlling interests in equity of	—				—				—			58,426				—				—			58,426
Investment Company - consolidated
VIEs
Non-controlling interests in equity	—				—				—			479,516				—				—			479,516
of Non-Investment Manager -
consolidated VIE
Total Equity	1,068,138				2,347				620,803			(88,593		)		590,464				(477,438		)	1,715,721
Total Liabilities, Redeemable	$	1,882,182			$	7,551			$	1,015,183		$	(58,468	)		$	873,535			$	(477,438	)	$	3,242,545
Non-controlling Interests and
Equity
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.
(D)	Includes the Principals’ (and one senior employee's) equity in the Fortress Operating Group column, which is eliminated in consolidation.
The consolidating statement of operations information is as follows:
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
Revenues
Investment Manager
Management fees: affiliates	$	400,189			$	3,701			$	—		$	(6,690	)		$	—			$	—		$	397,200
Management fees: non-affiliates	51,855				257				—			—				—				—			52,112
Incentive income: affiliates	125,634				—				—			—				—				—			125,634
Incentive income: non-affiliates	1,030				—				—			—				—				—			1,030
Expense reimbursements:	130,459				22,989				—			—				—				—			153,448
affiliates
Expense reimbursements:	7,877				2,054				—			—				—				—			9,931
non-affiliates
Other revenues (affiliate portion	4,345				—				—			(20		)		—				—			4,325
disclosed in Note 7)
Investment Company - consolidated VIEs
Interest and divided income	—				—				244			—				—				—			244
	721,389				29,001				244			(6,710		)		—				—			743,924
Non-Investment Manager -
consolidated VIE
Advertising	—				—				236,434			—				—				—			236,434
Circulation	—				—				118,049			—				—				—			118,049
Commercial printing and other	—				—				42,832			—				—				—			42,832
	—				—				397,315			—				—				—			397,315
Total Revenues	721,389				29,001				397,559			(6,710		)		—				—			1,141,239
Expenses
Investment Manager
Compensation and benefits	515,821				28,061				—			—				—				—			543,882
General, administrative and other	118,959				1,688				—			—				(1		)		—			120,646
Depreciation and amortization	14,282				53				—			—				—				—			14,335
Interest expense	2,377				23				—			(22		)		176				—			2,554
Investment Company - consolidated VIEs
Other	—				—				685			—				—				—			685
	651,439				29,825				685			(22		)		175				—			682,102
Non-Investment Manager -
consolidated VIE
Operating Costs	—				—				225,249			—				—				—			225,249
General, administrative and other	—				—				134,627			(3,727		)		—				—			130,900
Depreciation and amortization	—				—				26,201			—				—				—			26,201
Interest expense	—				—				10,813			—				—				—			10,813
Loss on extinguishment of debt	—				—				9,047			—				—				—			9,047
	—				—				405,937			(3,727		)		—				—			402,210
Total Expenses	651,439				29,825				406,622			(3,749		)		175				—			1,084,312
Continued on next page.
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																Group LLC Consolidated (C)
Other Income (Loss)
Investment Manager
Gains (losses) (affiliate portion	(25,681		)		—				—			(554		)		—				—			(26,235		)
disclosed in Note 4)
Tax receivable agreement liability	—				—				—			—				(4,036		)		—			(4,036		)
adjustment
Earnings (losses) from equity	78,776				—				—			2,974				50,219				(50,219		)	81,750
method investees
Investment Company - consolidated
VIEs
Gains (losses)	—				—				(4,427		)	—				—				—			(4,427		)
Total Other Income (Loss)	53,095				—				(4,427		)	2,420				46,183				(50,219		)	47,052
Income (Loss) Before Income	123,045				(824		)		(13,490		)	(541		)		46,008				(50,219		)	103,979
Taxes
Income tax benefit (expense) -	(9,530		)		10				—			—				(7,414		)		—			(16,934		)
Investment Manager
Income tax benefit (expense) -	—				—				(1,704		)	—				—				—			(1,704		)
Non-Investment Manager -
consolidated VIE
Total Income Tax Benefit	(9,530		)		10				(1,704		)	—				(7,414		)		—			(18,638		)
(Expense)
Net Income (Loss)	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
Allocation of Net Income (Loss)
Principals' and Others' Interests in	3,803				—				—			—				—				55,143			58,946
Income (Loss) of Consolidated
Subsidiaries
Redeemable Non-controlling Interests	—				—				—			(1,885		)		—				—			(1,885		)
in Income (Loss) of Investment
Company - consolidated VIE
Non-controlling Interests in Income	—				—				—			(9		)		—				—			(9		)
(Loss) of Investment Manager -
consolidated VIEs
Non-controlling Interests in	—				—				—			(10,305		)		—				—			(10,305		)
Income (Loss) of Non-
Investment Manager -
consolidated VIE
Net Income (Loss) Attributable to	109,712				(814		)		(15,194		)	11,658				38,594				(105,362		)	38,594
Class A Shareholders (D)
	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.
(D)	Includes net income (loss) attributable to the Principals’ (and one senior employee’s) interests in the Fortress Operating Group column, which is eliminated in consolidation.
The consolidating statement of cash flows information is as follows:
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																Group LLC Consolidated (C)
Cash Flows From Operating Activities
Net income (loss)	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Investment Manager
Depreciation and amortization	14,282				53				—			—				—				—			14,335
Other amortization and accretion	585				—				—			—				—				—			585
(included in interest expense)
(Earnings) losses from equity method	(78,776		)		—				—			(2,974		)		(50,219		)		50,219			(81,750		)
investees
Distributions of earnings from equity	78,337				—				—			—				—				—			78,337
method investees
(Gains) losses	25,681				—				—			554				—				—			26,235
Deferred incentive income	(66,778		)		—				—			—				—				—			(66,778		)
Deferred tax (benefit) expense	1,012				—				—			—				7,414				—			8,426
Options received from affiliates	(6,310		)		—				—			2,964				—				—			(3,346		)
Tax receivable agreement liability	—				—				—			—				4,036				—			4,036
adjustment
Equity-based compensation	29,584				—				—			—				—				—			29,584
Options in affiliates granted to employees	759				—				—			—				—				—			759
Other	(653		)		—				—			—				—				—			(653		)
Investment Company - consolidated VIEs
(Gains) losses	—				—				4,427			—				—				—			4,427
Non-Investment Manager - consolidated
VIE
Depreciation and amortization	—				—				26,201			—				—				—			26,201
Loss on extinguishment of debt	—				—				5,949			—				—				—			5,949
Amortization of deferred financing costs	—				—				708			—				—				—			708
(included in interest expense)
Deferred tax (benefit) expense	—				—				1,704			—				—				—			1,704
Other	—				—				462			—				—				—			462
Cash flows due to changes in
Investment Manager
Due from affiliates	(14,610		)		(634		)		—			4,047				—				—			(11,197		)
Other assets	36,179				(1,761		)		—			—				(2,111		)		—			32,307
Accrued compensation and benefits	(81,959		)		554				—			—				—				—			(81,405		)
Due to affiliates	(21,855		)		2,064				—			(2,064		)		170				—			(21,685		)
Deferred incentive income	99,553				—				—			—				—				—			99,553
Other liabilities	37,927				30				—			—				(1,520		)		—			36,437
Investment Company - consolidated VIEs
Purchases of investments and payments to	—				—				(458,794		)	—				—				—			(458,794		)
cover securities sold not yet purchased
Proceeds from sale of investments and	—				—				386,242			—				—				—			386,242
securities sold not yet purchased
Receivables from brokers and	—				—				(40,825		)	—				—				—			(40,825		)
counterparties
Other assets	—				—				(9,362		)	—				—				—			(9,362		)
Due to brokers and counterparties	—				—				12,577			—				—				—			12,577
Other liabilities	—				—				2,467			—				—				—			2,467
Continued on next page.
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)			FOE II (New) LP			Certain Consolidated Entities (B)			Fortress Operating Group Eliminations		Fortress Investment			Elimination Adjustments			Fortress Investment Group LLC Consolidated
												Group LLC Consolidated (C)
Non-Investment Manager -
consolidated VIE
Other assets	—			—			239			—		—			—			239
Deferred revenue	—			—			(439	)		—		—			—			(439	)
Accrued expenses and other	—			—			970			(1,986	)	—			—			(1,016	)
liabilities
Net cash provided by (used in)	166,473			(508	)		(82,668	)		—		(3,636	)		—			79,661
operating activities
Cash Flows From Investing Activities
Investment Manager
Contributions to equity method	(71,540	)		—			—			50,053		(33,664	)		33,664			(21,487	)
investees
Distributions of capital from equity	368,373			—			—			—		85,660			(85,660	)		368,373
method investees
Purchase of securities	(14,936	)		—			—			—		—			—			(14,936	)
Proceeds from sale of equity	83,039			—			—			—		—			—			83,039
securities
Purchase of fixed assets	(7,631	)		—			—			—		—			—			(7,631	)
Purchase of software and	(25,976	)		—			—			—		—			—			(25,976	)
technology-related assets
Non-Investment Manager -
consolidated VIE
Existing cash on consolidation	—			—			23,845			—		—			—			23,845
date
Purchase of fixed assets	—			—			(2,550	)		—		—			—			(2,550	)
Acquisitions, net of cash acquired	—			—			(71,822	)		—		—			—			(71,822	)
Other	—			—			714			—		—			—			714
Net cash provided by (used in)	331,329			—			(49,813	)		50,053		51,996			(51,996	)		331,569
investing activities
Cash Flows From Financing Activities
Investment Manager
Repayments of debt obligations	(50,000	)		—			—			—		—			—			(50,000	)
Borrowings under debt obligations	125,000			—			—			—		—			—			125,000
Proceeds from public offering (Note 9)				—			—			—		186,551			—			186,551
Repurchase of Class B shares (Note 9)	—			—			—			—		(186,551	)		—			(186,551	)
Issuance (purchase) of Class A	(33,664	)		—			—			—		33,664			—			—
shares (RSU settlements)
Repurchase of Class A shares	(363,260	)		(150	)		—			—		—			—			(363,410	)
(Note 9)
Capital contributions	33,664			—			—			—		—			(33,664	)		—
(distributions)
Dividends and dividend equivalents	(89,096	)		—			—			—		(85,181	)		85,660			(88,617	)
paid
Principals' and others' interests in	600			—			—			—		—			—			600
equity of consolidated
subsidiaries - contributions
Principals' and others' interests in	(152,686	)		—			—			—		—			—			(152,686	)
equity of consolidated
subsidiaries - distributions
Excess tax benefits from	—			—			—			—		3,030			—			3,030
delivery of RSUs
Investment Company - consolidated VIEs
Redeemable non-controlling	—			—			66,256			(50,003	)	—			—			16,253
interests - contributions
Non-redeemable non-controlling	—			—			58,485			(50	)	—			—			58,435
interests in Investment
Company - contributions
Continued on next page.
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																Group LLC Consolidated (C)
Non-Investment Manager -
consolidated VIE
Repayments of debt obligations	—				—				(185,989		)	—				—				—			(185,989		)
Borrowings under debt	—				—				239,840			—				—				—			239,840
obligations
Payment of debt issuance costs	—				—				(2,505		)	—				—				—			(2,505		)
Proceeds from public offering (net	—				—				116,130			—				—				—			116,130
of offering costs)
Dividends and dividend equivalents	—				—				(8,069		)	—				—				—			(8,069		)
paid
Net cash provided by (used in)	(529,442		)		(150		)		284,148			(50,053		)		(48,487		)		51,996			(291,988		)
financing activities
Net Increase (Decrease) in Cash	(31,640		)		(658		)		151,667			—				(127		)		—			119,242
and Cash Equivalents
Cash and Cash Equivalents,	362,620				1,336				—			—				627				—			364,583
Beginning of Period
Cash and Cash Equivalents,	$	330,980			$	678			$	151,667		$	—			$	500			$	—		$	483,825
End of Period
Cash and Cash Equivalents -	$	330,980			$	678			$	—		$	—			$	500			$	—		$	332,158
Investment Manager,
End of Period
Cash and Cash Equivalents -	$	—			$	—			$	16,604		$	—			$	—			$	—		$	16,604
Investment Company -
consolidated VIEs, End of Period
Cash and Cash Equivalents - Non-	$	—			$	—			$	135,063		$	—			$	—			$	—		$	135,063
Investment Manager -
consolidated VIE,
End of Period
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

'

Basis of Accounting and Consolidation

'

Basis of Accounting and Consolidation - The accompanying consolidated financial statements have been prepared in accordance with GAAP. The accompanying financial statements include the accounts of Fortress and its consolidated subsidiaries, which are comprised of (i) entities in which it has an investment of 50% or more and has control over significant operating, financial and investing decisions of the entity, (ii) variable interest entities (“VIEs”) in which it is the primary beneficiary as described below and (iii) non-VIE partnerships in which it is the general partner where the limited partners do not have rights that would overcome the presumption of control by the general partner.

For those entities in which it has a variable interest, Fortress first determines whether the entity is a VIE. This determination is made by considering whether the entity’s equity investment at risk is sufficient and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary.

The primary beneficiary of a VIE is generally defined as the party who, considering the involvement of related parties and de facto agents, has (i) the power to direct the activities of the VIE that most significantly affect its economic performance, and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. This evaluation is updated continuously.

For investment companies and similar entities, the primary beneficiary of a VIE is the party who, considering the involvement of related parties and de facto agents, absorbs a majority of the VIE's expected losses or receives a majority of the expected residual returns, as a result of holding a variable interest. This evaluation is also updated continuously.

As the general partner or managing member of entities that are limited partnerships or limited liability companies and not VIEs, Fortress is presumed to control the partnership or limited liability company. This presumption is overcome when the unrelated limited partners or members have the substantive ability to liquidate the entity or otherwise remove Fortress as the general partner or managing member without cause based on a simple unaffiliated majority vote, or have other substantive participating rights.

Redeemable Non-controlling Interests represent the ownership interests in the Investment Company which are redeemable by an investor and not owned by Fortress.

Non-controlling interests in equity of Investment Company represents the ownership interests in the Investment Company which are not redeemable and are held by entities or persons other than Fortress.

Principals’ and others’ interests in consolidated subsidiaries represent the ownership interests in certain consolidated subsidiaries held by entities or persons other than Fortress. This is primarily related to the Principals’ interests in Fortress Operating Group (Note 1). Non-Fortress interests also include employee interests in majority owned and controlled fund advisor and general partner entities.

Non-controlling interests in equity of Non-Investment Manager represent the interests in New Media that are not owned by Fortress.

For entities over which Fortress exercises significant influence but which do not meet the requirements for consolidation, Fortress uses the equity method of accounting whereby it records its share of the underlying income of these entities. These entities include the Fortress Funds. Virtually all of the Fortress Funds are, for GAAP purposes, investment companies. As required, Fortress has retained the specialized accounting of these funds. The Fortress Funds record realized and unrealized gains (losses) resulting from changes in the fair value of their investments as a component of current income. Additionally, these funds generally do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”).

Distributions by Fortress and its subsidiaries are recognized when declared.

Risks and Uncertainties

'

Risks and Uncertainties - In the normal course of business, Fortress encounters primarily two significant types of economic risk: credit and market. Credit risk is the risk of default on Fortress’s or the Fortress Funds’ investments in debt securities, loans, leases, derivatives and other financial instruments that results from a borrower's, lessee’s or counterparty's inability or unwillingness to make required or expected payments. Market risk reflects changes in the value of investments due to changes in interest rates, credit spreads or other market factors. Credit risk is enhanced in situations where Fortress or a Fortress Fund is investing in distressed assets, as well as unsecured or subordinate loans or securities, which is a material part of its business.

Fortress makes investments outside of the United States. Fortress’s non-U.S. investments are subject to the same risks associated with its U.S. investments as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing non-U.S. investments, potentially adverse tax consequences and the burden of complying with a wide variety of foreign laws.

Fortress is exposed to economic risk concentrations insofar as it is dependent on the ability of the Fortress Funds to compensate it for the services which Fortress provides to these funds. Further, the incentive income component of this compensation is based on the ability of the Fortress Funds to generate adequate returns on their investments. In addition, substantially all of Fortress’s net assets, after deducting the portion attributable to non-controlling interests, are comprised of Fortress's investments in, or receivables from, these funds.

Use of Estimates

'

Use of Estimates - The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Management Fees and Expense Reimbursements

'

Management Fees and Expense Reimbursements - Management fees are recognized in the periods during which the related services are performed and the amounts have been contractually earned. Fortress is entitled to certain expense reimbursements pursuant to its management agreements. Fortress selects the vendors, incurs the expenses, and is the primary obligor under the related arrangements. Fortress is considered the principal under these arrangements and is required to record the expense and related reimbursement revenue on a gross basis. Expense reimbursements are recognized in the periods during which the related expenses are incurred and the reimbursements are contractually earned.

Stock Options Received

'

Stock Options Received - Fully vested stock options are issued to Fortress by certain of the publicly traded permanent capital vehicles as compensation for services performed in raising capital for these entities. These options are recognized by Fortress as management fees at their estimated fair value at the time of issuance. Fair value was estimated using an option valuation model. Since the publicly traded permanent capital vehicles' option plans have characteristics significantly different from those of traded options, and since the assumptions used in such models, particularly the volatility assumption, are subject to significant judgment and variability, the actual value of the options could vary materially from this estimate. Fortress has elected to account for these options at fair value with changes in fair value recognized in current income as Gains (Losses).

Incentive Income

'

Incentive Income - Incentive income is calculated as a percentage of the profits earned by the Fortress Funds subject, in certain cases, to the achievement of performance criteria. Incentive income from certain funds is subject to contingent repayment based on the applicable Fortress Fund achieving earnings in excess of a specified minimum return. Incentive income that is not subject to contingent repayment is recognized as contractually earned. Incentive income subject to contingent repayment may be paid to Fortress as particular investments made by the funds are realized. However, if upon liquidation of each fund the aggregate amount paid to Fortress as incentive income exceeds the amount actually due to Fortress based upon the aggregate performance of each fund, the excess is required to be repaid by Fortress (i.e. “clawed back”) to that fund. Fortress has elected to adopt the preferred method of recording incentive income subject to contingencies, whereby it does not recognize incentive income subject to contingent repayment until the termination of the related fund, or when and to the extent distributions from the fund exceed the point at which a clawback of a portion or all of the historic incentive income distributions could no longer occur due to the related contingencies being resolved. Recognition of incentive income allocated or paid to Fortress prior to that date is deferred and recorded as deferred incentive income liability.

Other Revenues and Other Income

'

Other Revenues and Other Income - Fortress recognizes security transactions on the trade date. Gains and losses are recorded based on the specific identification method and generally include gains (losses) on investments in securities, derivatives, foreign exchange transactions, and contingent consideration accrued in business combinations. Dividend income is recognized on the ex-dividend date, or in the absence of a formal declaration, on the date it is received. Interest income is recognized as earned on an accrual basis.

Media Revenues

'

Media Revenues - Advertising income from the publication of newspapers is recognized when advertisements are published in newspapers or placed on digital platforms or, with respect to certain digital advertising, each time a user either clicks on or views certain ads, net of commissions and provisions for estimated sales incentives including rebates, rate adjustments, and discounts.

Circulation revenue includes single-copy and subscription revenues. Circulation income is based on the number of copies of the printed newspaper (through home-delivery subscriptions and single-copy sales) and digital subscriptions sold and the rates charged to the respective customers. Single-copy income is recognized based on date of publication, net of provisions for related returns. Proceeds from subscription income are deferred at the time of sale and are recognized in earnings on a pro rata basis over the terms of the subscriptions.

Other revenue is recognized when the related service or product has been delivered.

Billings to clients and payments received in advance of the performance of services or delivery of products are recorded as deferred revenue in the consolidated balance sheets until the services are performed or the product is delivered.

Cash and Cash Equivalents

'

Cash Equivalents - Cash equivalents represent highly liquid certificates of deposit which have original maturities of three months or less.

Cash and Cash Equivalents - Fortress considers all highly liquid short term investments with maturities of 90 days or less when purchased to be cash equivalents. Substantially all amounts on deposit with major financial institutions exceed insured limits.

Cash and Cash Equivalents, Investment Company - Cash held at the Investment Company that is not available to fund the general liquidity needs of Fortress as Investment Manager.

Due from/to Affiliates

'

Due from/to Affiliates - For purposes of classifying amounts, Fortress considers its principals, employees, all of the Fortress Funds, and the Portfolio Companies to be affiliates. This definition is broader than the strict GAAP definition of affiliates. Amounts due from and due to affiliates are recorded at their contractual amount, subject to an allowance for uncollectible amounts if collection is not deemed probable.

Other Assets and Other Liabilities

'

Other Assets and Other Liabilities:

Other assets are presented net of allowances for uncollectible amounts of $2.3 million as of September 30, 2014 and $3.3 million as of December 31, 2013, respectively, and changes thereto were recorded as General and Administrative expense.

Other Assets and Other Liabilities - Other assets are presented net of allowances for uncollectible amounts of $4.7 million as of September 30, 2014, which were recorded as general, administrative and other. Other assets and liabilities of the Non-Investment Manager are comprised of the following:

Other Assets

Other Liabilities

September 30, 2014

September 30, 2014

Accounts receivable, net

$

73,303

Accounts payable

$

8,638

Inventory

11,106

Accrued expenses

46,287

Prepaid expenses

7,298

Pension and postretirement benefit obligations

9,094

Miscellaneous assets

25,186

Miscellaneous liabilities

8,160

$

116,893

$

72,179

Fixed Assets, Depreciation and Amortization

'

Fixed Assets - Fixed assets are recorded at cost. Routine maintenance and repairs are expensed as incurred. Depreciation is calculated under the straight-line method over the estimated useful lives, principally 21 to 40 years for buildings, 3 to 10 years for buildings improvements, 1 to 20 years for machinery and equipment, and 1 to 7 years for furniture, fixtures and computer software. Leasehold improvements are amortized under the straight-line method over the shorter of the lease term or estimated useful life of the asset.

Fixed Assets, Depreciation and Amortization - Fixed assets consist primarily of leasehold improvements, furniture, fixtures and equipment, and computer hardware and software, and are recorded at cost less accumulated depreciation. Depreciation and amortization are calculated using the straight-line method over the assets’ estimated useful lives, which are the life of the related lease for leasehold improvements, and three to seven years for other fixed assets.

Deferred Charges

'

Deferred Charges - Deferred charges consist primarily of costs incurred in obtaining financing, which are amortized over the term of the financing generally using the effective interest method.

Equity Securities

'

Equity Securities - Equity securities consist primarily of investments in unaffiliated publicly traded companies, which are valued based on quoted market prices.

Digital Currency (Bitcoin)

'

Digital Currency (Bitcoin) - Represents Fortress's holdings of digital currency which is recorded at the lower of cost or fair value. If fair value is below cost, Fortress records an unrealized loss measured as the excess of cost over fair value of the digital currency. Subsequently, to the extent that fair value increases, Fortress records an unrealized gain but shall not report digital currency above cost. Fortress determines fair value based on estimated exit value using significant observable inputs as of the balance sheet date.

Prepaid Compensation

'

Prepaid Compensation - Prepaid compensation consists of profit sharing compensation payments previously made to employees which are not considered probable of being incurred as expenses and would become receivable back from employees at the termination of the related funds.

Goodwill and Intangibles

'

Goodwill and Intangibles - Goodwill and intangibles represent amounts recorded in connection with business combinations. Goodwill is not amortized but is tested for impairment at least annually. Other intangible assets are amortized over their estimated useful lives.

Goodwill and Intangibles - Intangible assets related to the Media Business consist of advertiser, customer and subscriber relationships, mastheads and trade names. These intangible assets are recorded at fair value at the date of acquisition. New Media estimates the fair value of the advertiser, customer and subscriber relationships and the trade names using the multi-period excess earnings method under the income approach. This valuation method is based on first forecasting revenue for the existing customer base and then applying expected attrition rates. Mastheads are not amortized because it has been determined that the useful lives of such mastheads are indefinite.

Amortization of intangible assets is included within depreciation and amortization on the consolidated statements of operations and is calculated using the straight-line method based on the following estimated useful lives:

Advertiser relationships

14 - 16 years

Customer relationships

14 - 16 years

Subscriber relationships

13 - 16 years

Trade names

10 years

Goodwill and intangible assets related to New Media consisted of the following:

September 30, 2014

Gross

Accumulated

Net

Carrying Amount

Amortization

Carrying Amount

Amortized intangible assets:

Advertiser relationships

$

62,325

$

(2,437

)

$

59,888

Customer relationships

7,763

(245

)

7,518

Subscriber relationships

38,016

(1,470

)

36,546

Trade name

262

(17

)

245

Total

$

108,366

$

(4,169

)

$

104,197

Nonamortized intangible assets:

Mastheads

50,936

Total intangible assets, net

$

155,133

Goodwill

$

125,407

As of September 30, 2014, the weighted average amortization periods for amortizable intangible assets are 15.8 years for advertiser relationships, 15.9 years for customer relationships, 15.9 years for subscriber relationships and 10.0 years for trade names. The weighted average amortization period in total for all amortizable intangible assets is 15.8 years.

Amortization expense related to amortizable intangible assets of New Media for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014 was $1.7 million and $4.2 million, respectively. Estimated future amortization expense as of September 30, 2014, is as follows:

October 1, 2014 to December 31, 2014

$

1,755

2015

7,022

2016

7,022

2017

7,022

2018

7,022

Thereafter

74,354

Total

$

104,197

Goodwill and intangible assets with indefinite lives are tested for impairment annually or when events indicate that an impairment could exist which may include an economic downturn in a market, a change in the assessment of future operations or a decline in New Media’s stock price. An annual impairment assessment is performed on each of New Media's reporting units. The fair value of the applicable reporting unit is compared to its carrying value. Calculating the fair value of a reporting unit requires significant estimates and assumptions. Fair value is estimated by applying third-party market value indicators to projected cash flows and/or projected earnings before interest, taxes, depreciation, and amortization. In applying this methodology, the company relies on a number of factors, including current operating results and cash flows, expected future operating results and cash flows, future business plans, and market data. If the carrying value of the reporting unit exceeds the estimate of fair value, the amount of impairment is calculated as the excess of the carrying value of goodwill over its implied fair value. In June 2014, New Media performed an impairment assessment of its goodwill and intangible assets for each of its reporting units. Based on its assessment, no impairment was identified.

The recoverability of its long-lived assets, including fixed assets and definite lived intangible assets, is estimated whenever events or changes in business circumstances indicate the carrying amount of the assets, or related group of assets, may not be fully recoverable. Impairment indicators include significant under performance relative to historical or projected future operating losses, significant changes in the manner of use of the acquired assets or the strategy for New Media’s overall business, and significant negative industry or economic trends. The assessment of recoverability is based on management’s estimates by comparing the sum of the estimated undiscounted cash flows generated by the underlying asset, or other appropriate grouping of assets, to its carrying value to determine whether an impairment existed at its lowest level of identifiable cash flows. If the carrying amount of the asset is greater than the expected undiscounted cash flows to be generated by such asset, an impairment is recognized to the extent the carrying value of such asset exceeds its fair value.

The newspaper industry and New Media have experienced declining same store revenue and profitability over the past several years. Should general economic, market or business conditions decline, and have a negative impact on estimates of future cash flow and market transaction multiples, this may require impairment charges to be recorded in the future.

Deferred Rent

'

Deferred Rent - Rent expense is recognized on a straight-line basis based on the total minimum rent required throughout the lease period. Deferred rent represents the difference between the rent expense recognized and cash paid to date.

Derivatives and Hedging Activities

'

Derivatives and Hedging Activities - All derivatives are recognized as either assets or liabilities in the balance sheet and measured at fair value. Any unrealized gains or losses on derivatives not designated as hedges are recorded in Gains (Losses). Net payments under these derivatives are similarly recorded, but as realized. Fortress did not have any derivatives designated as hedges for the nine months ended September 30, 2014 and 2013.

Derivatives, Investment Company - Derivatives held by the Investment Company are entered into as part of its trading and investment strategy. These derivatives are measured at fair value and any changes in fair value are recorded in Investment Company Gains (Losses). Derivative assets held by the Investment Company are included in Investments, at fair value and derivative liabilities are included in Other Liabilities. Derivatives can be exchange-traded or over the counter ("OTC") contracts. Derivatives include options, swap contracts, forward foreign currency contracts and futures contracts.

Receivables from/Due to Brokers and Counterparties

'

Receivables from/Due to Brokers and Counterparties, Investment Company - Securities transactions of the Investment Company are primarily maintained, cleared and held by registered U.S. broker-dealers pursuant to prime broker account agreements.  As of September 30, 2014, the receivables from/due to brokers balances in the consolidated balance sheets include cash at and due to brokers and the net receivable/payable for investment transactions pending settlement.  The cash at brokers includes proceeds received from securities sold, not yet purchased which is subject to certain restrictions until the securities are purchased.  Substantially all investments owned are held as collateral by the brokers against various margin obligations and as collateral for securities sold, not yet purchased.  The cash at brokers earns interest at the prevailing market rates.

Securities Sold, Not Yet Purchased, At Fair Value

'

Securities Sold Not Yet Purchased, At Fair Value, Investment Company - These are securities that the Investment Company sold but did not own prior to the sale. In order to facilitate short sales, the Investment Company borrows securities from another party and delivers them to the buyer. The Investment Company is required to "cover" short sales by purchasing securities in the market at the prevailing market prices and delivering them to the counterparties from which it borrowed. The Investment Company is exposed to losses to the extent that the security price increases during the time from when the Investment Company borrows the securities to when it purchases them in the market to cover the short sales. Changes in the value of these securities are reflected as gains (losses) in the accompanying consolidated statements of operations.

Comprehensive Income (Loss)

'

Comprehensive Income (Loss) - Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. For Fortress’s purposes, comprehensive income represents net income, as presented in the accompanying consolidated statements of operations, adjusted for unrealized gains or losses on securities available for sale and on derivatives designated as cash flow hedges, as well as net foreign currency translation adjustments, including Fortress’s relative share of these items from its equity method investees.

Foreign Currency

'

Foreign Currency - Assets and liabilities relating to foreign investments are translated using the exchange rates prevailing at the end of each reporting period. Results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included in current income to the extent that unrealized gains and losses on the related investment are included in income, otherwise they are included as a component of accumulated other comprehensive income until realized. Foreign currency gains or losses resulting from transactions outside of the functional currency of a consolidated entity are recorded in income as incurred and were not material during the nine months ended September 30, 2014 and 2013.

Profit Sharing Arrangements

'

Profit Sharing Arrangements - Pursuant to employment arrangements, certain of Fortress’s employees are granted profit sharing interests and are thereby entitled to a portion of the incentive income or other amounts realized from certain Fortress Funds, which is payable upon a realization event within the respective funds. Accordingly, incentive income resulting from a realization event within a fund gives rise to the incurrence of a profit sharing obligation. Amounts payable under these profit sharing plans are recorded as compensation expense when they become probable and reasonably estimable.

For profit sharing plans related to hedge funds, where incentive income is received on an annual basis, the related compensation expense is accrued during the period for which the related payment is made.

For profit sharing plans related to private equity funds, the private permanent capital vehicle and credit PE funds, where incentive income is received as investments are realized but is subject to clawback (see “Incentive Income” above), although Fortress defers the recognition of incentive income until all contingencies are resolved, accruing expense for employee profit sharing is based upon when it becomes probable and reasonably estimable that incentive income has been earned and therefore a profit sharing liability has been incurred. Based upon this policy, the recording of an accrual for profit sharing expense to employees generally precedes the recognition of the related incentive income revenue.

Fortress's determination of the point at which it becomes probable and reasonably estimable that incentive income will be earned and therefore a corresponding profit sharing expense should be recorded is based upon a number of factors, the most significant of which is the level of realized gains generated by the underlying funds which may ultimately give rise to incentive income payments. Accordingly, profit sharing expense is generally recorded upon realization events within the underlying funds. A realization event has occurred when an investment within a fund generates proceeds in excess of its related invested capital, such as when an investment is sold at a gain. In some cases, this accrual is subject to reversal based on a determination that the expense is no longer probable of being incurred (in other words, that a clawback is probable).

Fortress may withhold a portion of the profit sharing payments relating to private equity fund, private permanent capital vehicle or credit PE fund incentive income as a reserve against contingent repayment (clawback) obligations to the funds. Employees may opt to have these withheld amounts invested in either a money market account or in one of a limited group of Fortress Funds.

Equity-Based Compensation

'

Equity-Based Compensation - Fortress currently has several categories of equity-based compensation, which are accounted for as described in Note 8. Generally, the grant date fair value of equity-based compensation granted to employees or directors is expensed ratably over the required service period (or immediately if there is no required service period). Equity-based compensation granted to non-employees, primarily to employees of certain Portfolio Companies, is expensed ratably over the required service period based on its fair value at each reporting date.

Income Taxes

'

Income Taxes - FIG Corp., a subsidiary of the Registrant, is a corporation for tax purposes. As a result, a substantial portion of Fortress’s income earned by FIG Corp. is subject to U.S. federal and state income taxation, taxed at prevailing rates. The remainder of Fortress’s income is allocated directly to its shareholders and is not subject to a corporate level of taxation. Certain subsidiaries of Fortress are subject to the New York City unincorporated business tax (“UBT”) on their U.S. earnings based on a statutory rate of 4%. Certain subsidiaries of Fortress are subject to income tax of the foreign countries in which they conduct business. Interest and penalties, if any, are treated as additional taxes.

Fortress accounts for these taxes using the liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These temporary differences are expected to result in taxable or deductible amounts in future years and the deferred tax effects are measured using enacted tax rates and laws that will be in effect when such differences are expected to reverse. A valuation allowance is established when management believes it is more likely than not that a deferred tax asset will not be realized.

Fortress is party to a tax receivable agreement whereby the Principals will receive payments from Fortress related to tax savings realized by Fortress in connection with certain transactions entered into by the Principals.

Purchase Accounting

'

Purchase Accounting - In determining the allocation of the purchase price between net tangible and intangible assets and liabilities, management made estimates of the fair value of the tangible and intangible assets and liabilities using information obtained as a result of pre-acquisition due diligence and independent valuations and appraisals. Management allocates the purchase price to net tangible and identified intangible assets and liabilities based on their fair values. The determination of fair value involves the use of significant judgment and estimation. Acquisition costs in excess of the fair value of tangible and identifiable intangible net assets is recorded as goodwill.

Deferred Revenue

'

Deferred Revenue - Billings to clients and payments received in advance of the performance of services or delivery of products are recorded as deferred revenue until services are performed or the product is delivered.

Accounts Receivable

'

Accounts Receivable - Accounts receivable are stated at amounts due from customers, net of an allowance for uncollectible accounts. Allowance for uncollectible accounts is based upon several factors including the length of time the receivables are past due, historical payment trends and current economic factors. New Media generally does not require collateral.

Inventory

'

Inventory - Inventory consists principally of newsprint, which is valued at the lower of cost or market. Cost is determined using the first-in, first-out (“FIFO”) method.

Pension and Other Postretirement Benefit Obligations

'

Pension and Other Postretirement Benefit Obligations - Pension plan obligations and expense is based on a number of actuarial assumptions. Two critical assumptions are the expected long-term rate of return on plan assets and the discount rate applied to pension plan obligations. For other postretirement benefit plans, which provide for certain health care and life insurance benefits for qualifying retired employees and which are not funded, critical assumptions in determining other postretirement benefit obligations and expense are the discount rate and the assumed health care cost-trend rates.

New Media maintains a legacy pension plan and legacy postretirement medical and life insurance plans which cover qualifying employees of its subsidiaries. The pension plan and postretirement medical and life insurance plans are closed to new participants and the pension plan was frozen to all future benefit accruals. Also, medical and life insurance benefits for a select group of active employees are frozen and the plan limits future benefits.

The accrued benefit actuarial method is used and best estimate assumptions are used to determine pension costs, liabilities and other pension information for defined benefit plans.

The following provides information on the components of net periodic benefit cost (income) for the pension plans and postretirement medical and life insurance plans for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014:

Period from February 14, 2014

Three Months Ended September 30, 2014

to September 30, 2014

Pension

Postretirement

Pension

Postretirement

Service cost

$

75

$

9

$

225

$

25

Interest cost

295

63

885

190

Expected return on plan assets

(406

)

—

(1,218

)

—

Net periodic benefit cost (income)

$

(36

)

$

72

$

(108

)

$

215

The following assumptions were used to calculate the net periodic benefit cost (income) for New Media’s defined benefit pension and postretirement plans:

Pension

Postretirement

Weighted average discount rate

5

%

4.5

%

Expected return on assets

8

%

N/A

Current year trend

N/A

7.8

%

Ultimate year trend

N/A

4.8

%

Year of ultimate trend

N/A

2025

Since the pension plan was frozen to all future benefit accruals and the medical and life insurance benefit plans limit future benefits, management assumed no rate of increase in future compensation levels.

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Redeemable noncontrolling interest	'
	The following table represents the activity in Redeemable Non-controlling Interests as presented in the consolidated balance sheets:
		Nine Months Ended September 30, 2014
	Beginning balance	$	—
	Capital contributions	36,772
	Redeemable Non-controlling Interests in income (loss) of Investment Company	(1,885		)
		$	34,887
Schedule of recognized identified assets acquired and liabilities assumed	'
	The following table summarizes the allocation of the estimated New Media fair value to identifiable assets and liabilities as of the date of consolidation:
		As of February 14, 2014
	Cash and cash equivalents	$	23,845
	Fixed assets	266,385
	Goodwill	118,847
	Intangibles assets	144,664
	Other assets	108,072
	Total assets	661,813
	Less:
	Debt obligations payable	(177,955		)
	Accrued expenses and other liabilities	(99,858		)
	Net assets	$	384,000
	Non-controlling interests in equity of New Media	$	383,040
Schedule of financial statement guide	'
	FINANCIAL STATEMENT GUIDE
	Selected Financial Statement Captions		Note Reference		Explanation
	Balance Sheet
	Due from Affiliates		7		Generally, management fees, expense reimbursements and incentive income due from Fortress Funds.
	Investments and Investments in Options		4		Primarily the carrying value of Fortress’s investments in the Fortress Funds. Also includes investments, at fair value of the Investment Company which Fortress consolidates.
	Deferred Tax Asset, net		6		Relates to potential future net tax benefits.
	Due to Affiliates		7		Generally, amounts due to the Principals related to their interests in Fortress Operating Group and the tax receivable agreement.
	Deferred Incentive Income		3		Incentive income already received from certain Fortress Funds based on past performance, which is subject to contingent repayment based on future performance.
	Debt Obligations Payable		5		The balance outstanding on the Investment Manager's and New Media's credit agreements.
					The debt obligations of New Media and the Investment Company are not cross collateralized with the debt obligations of Fortress. Fortress has no obligation to satisfy the liabilities of New Media or the Investment Company. Similarly, Fortress does not have the right to make use of New Media or the Investment Company's assets to satisfy its obligations.
					New Media and the Investment Company’s debt obligations have no impact on Fortress's cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.
	Principals' and Others' Interests in Equity of Consolidated Subsidiaries		7		The GAAP basis of the Principals' and one senior employee's ownership interests in Fortress Operating Group as well as employees' ownership interest in certain subsidiaries.
	Statement of Operations
	Management Fees: Affiliates		3		Fees earned for managing Fortress Funds, generally determined based on the size of such funds.
	Management Fees: Non-Affiliates		3		Fees earned from managed accounts and our traditional fixed income asset management business, generally determined based on the amount managed.
	Incentive Income: Affiliates		3		Income earned from Fortress Funds, based on the performance of such funds.
	Incentive Income: Non- Affiliates		3		Income earned from managed accounts, based on the performance of such accounts.
	Compensation and Benefits		8		Includes equity-based, profit-sharing and other compensation to employees.
	Gains (Losses)		4		The result of asset dispositions or changes in the fair value of investments or other financial instruments which are marked to market (including the publicly traded permanent capital vehicles and publicly traded portfolio companies).
	Tax Receivable Agreement Liability Adjustment		6		Represents a change in the amount due to the Principals under the tax receivable agreement.
	Earnings (Losses) from Equity Method Investees		4		Fortress’s share of the net earnings (losses) of the Fortress Funds resulting from its investments in these funds.
	FINANCIAL STATEMENT GUIDE
	Selected Financial Statement Captions		Note Reference		Explanation
	Income Tax Benefit (Expense)		6		The net tax result related to the current period. Certain of Fortress’s revenues are not subject to taxes because they do not flow through taxable entities. Furthermore, Fortress has significant permanent differences between its GAAP and tax basis earnings.
					Income tax benefit (expense) for the Investment Manager and Media Business are calculated separately and the taxable income (loss) of the Media Business does not impact the amount of income tax benefit (expense) for the Investment Manager (and vice versa).
	Principals’ and Others’ Interests in (Income) Loss of Consolidated Subsidiaries		7		Primarily the Principals’ and employees’ share of Fortress’s earnings based on their ownership interests in subsidiaries, including Fortress Operating Group.
	Earnings Per Share		9		GAAP earnings per Class A share based on Fortress’s capital structure, which is comprised of outstanding and unvested equity interests, including interests which participate in Fortress’s earnings, at both the Fortress and subsidiary levels.
	Other
	Distributions		9		A summary of dividends and distributions, and the related outstanding shares and units, is provided.
	Distributable Earnings		11		A presentation of our financial performance by segment (fund type) is provided, on the basis of the operating performance measure used by Fortress’s management committee.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Schedule of property, plant and equipment	'
	Fixed assets for New Media consisted of the following:
		September 30, 2014
	Land	$	25,940
	Buildings and improvements	127,497
	Machinery and equipment	143,431
	Furniture, fixtures, and computer software	14,187
	Construction in progress and other non-depreciating assets	1,350
		$	312,405
	Less: accumulated depreciation	(21,924		)
	Total	$	290,481
Schedule of estimated useful life of intangible assets	'
	Amortization of intangible assets is included within depreciation and amortization on the consolidated statements of operations and is calculated using the straight-line method based on the following estimated useful lives:
	Advertiser relationships	14 - 16 years
	Customer relationships	14 - 16 years
	Subscriber relationships	13 - 16 years
	Trade names	10 years
Schedule of intangible assets and goodwill	'
	Goodwill and intangible assets related to New Media consisted of the following:
			September 30, 2014
			Gross			Accumulated				Net
			Carrying Amount			Amortization				Carrying Amount
	Amortized intangible assets:
	Advertiser relationships		$	62,325		$	(2,437	)		$	59,888
	Customer relationships		7,763			(245		)		7,518
	Subscriber relationships		38,016			(1,470		)		36,546
	Trade name		262			(17		)		245
	Total		$	108,366		$	(4,169	)		$	104,197
	Nonamortized intangible assets:
	Mastheads									50,936
	Total intangible assets, net									$	155,133
	Goodwill									$	125,407
Schedule of estimated future amortization expense	'
	Amortization expense related to amortizable intangible assets of New Media for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014 was $1.7 million and $4.2 million, respectively. Estimated future amortization expense as of September 30, 2014, is as follows:
	October 1, 2014 to December 31, 2014	$	1,755
	2015	7,022
	2016	7,022
	2017	7,022
	2018	7,022
	Thereafter	74,354
	Total	$	104,197
Schedule of other assets and other liabilities	'
	Other assets are presented net of allowances for uncollectible amounts of $4.7 million as of September 30, 2014, which were recorded as general, administrative and other. Other assets and liabilities of the Non-Investment Manager are comprised of the following:
		Other Assets				Other Liabilities
		September 30, 2014				September 30, 2014
	Accounts receivable, net	$	73,303		Accounts payable	$	8,638
	Inventory	11,106			Accrued expenses	46,287
	Prepaid expenses	7,298			Pension and postretirement benefit obligations	9,094
	Miscellaneous assets	25,186			Miscellaneous liabilities	8,160
		$	116,893			$	72,179
Schedule of net benefit costs	'
	The following provides information on the components of net periodic benefit cost (income) for the pension plans and postretirement medical and life insurance plans for the three months ended September 30, 2014 and for the period from February 14, 2014 to September 30, 2014:
									Period from February 14, 2014
		Three Months Ended September 30, 2014							to September 30, 2014
		Pension			Postretirement				Pension			Postretirement
	Service cost	$	75		$	9			$	225		$	25
	Interest cost	295			63				885			190
	Expected return on plan assets	(406		)	—				(1,218		)	—
	Net periodic benefit cost (income)	$	(36	)	$	72			$	(108	)	$	215
Schedule of assumptions used	'
	The following assumptions were used to calculate the net periodic benefit cost (income) for New Media’s defined benefit pension and postretirement plans:
			Pension		Postretirement
	Weighted average discount rate		5	%	4.5	%
	Expected return on assets		8	%	N/A
	Current year trend		N/A		7.8	%
	Ultimate year trend		N/A		4.8	%
	Year of ultimate trend		N/A		2025

MANAGEMENT_AGREEMENTS_AND_FORT1

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Tables)	9 Months Ended
	Sep. 30, 2014
Management and Agreement Fortress Funds	'
Schedule of management fees and incentive income recognized	'
	Fortress recognized management fees and incentive income as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Private Equity
	Private Equity Funds
	Management fees: affil.	$	33,585			$	33,686			$	104,228			$	99,221
	Management fees: non-affil.	53				123				364				345
	Incentive income: affil.	—				6,433				22,094				21,742
	Permanent Capital Vehicles
	Management fees: affil.	16,021				13,884				45,288				43,600
	Management fees, options: affil.	1,742				—				3,346				36,470
	Management fees: non-affil.	667				643				2,358				2,959
	Incentive income: affil.	8,887				4,178				32,142				5,378
	Liquid Hedge Funds
	Management fees: affil.	29,263				24,313				86,328				61,373
	Management fees: non-affil.	4,470				6,324				17,045				18,008
	Incentive income: affil.	700				10,886				1,686				17,350
	Incentive income: non-affil.	—				1,138				44				3,625
	Credit Funds
	Credit Hedge Funds
	Management fees: affil.	28,755				25,455				84,044				75,284
	Management fees: non-affil.	41				26				85				151
	Incentive income: affil.	8,282				10,756				26,015				31,330
	Credit PE Funds
	Management fees: affil.	23,540				23,633				71,799				71,115
	Management fees: non-affil.	31				35				99				104
	Incentive income: affil.	13,072				8,681				43,697				27,376
	Incentive income: non-affil.	343				769				986				1,145
	Logan Circle
	Management fees: affil.	768				622				2,167				1,894
	Management fees: non-affil.	11,512				8,210				32,161				23,964
	Total
	Management fees: affil.	$	133,674			$	121,593			$	397,200			$	388,957
	Management fees: non-affil.	$	16,774			$	15,361			$	52,112			$	45,531
	Incentive income: affil. (A)	$	30,941			$	40,934			$	125,634			$	103,176
	Incentive income: non-affil.	$	343			$	1,907			$	1,030			$	4,770
	(A)	See “Deferred Incentive Income” below. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles.
Schedule of components of deferred incentive income from the Fortress Funds on an inception to date basis	'
	Deferred incentive income from the Fortress Funds was comprised of the following, on an inception-to-date basis. This does not include any amounts related to third party funds, receipts from which are reflected as Other Liabilities until all contingencies are resolved.
		Distributed-Gross					Distributed-Recognized (A)				Distributed-Unrecognized (B)				Undistributed, net of intrinsic clawback (C) (D)
	Deferred incentive income as of December 31, 2013	$	1,015,084				$	(767,528	)		$	247,556			$	696,333
	Fortress Funds which matured (no longer subject	—					—				N/A				N/A
	to clawback)
	Share of income (loss) of Fortress Funds	N/A					N/A				N/A				365,164
	Distribution of private equity funds and credit PE	102,541					N/A				102,541				(102,541		)
	funds incentive income
	Distribution of private permanent capital vehicle	217					N/A				217				(217		)
	incentive income
	Recognition of previously deferred incentive income	N/A					(66,778		)		(66,778		)		N/A
	Changes in foreign exchange rates	148					—				148				N/A
	Deferred incentive income as of September 30, 2014	$	1,117,990		(E)		$	(834,306	)		$	283,684			$	958,739		(E)
	Deferred incentive income including Fortress Funds	$	1,171,646				$	(887,962	)
	which matured
	(A)	All related contingencies have been resolved.
	(B)	Reflected on the consolidated balance sheet.
	(C)	At September 30, 2014, the net undistributed incentive income is comprised of $1,025.6 million of gross undistributed incentive income, net of $66.9 million of intrinsic clawback. The net undistributed incentive income represents the amount that would be received by Fortress from the related funds if such funds were liquidated on September 30, 2014 at their net asset values.
	(D)	From inception to September 30, 2014, Fortress has paid $507.3 million of compensation expense under its employee profit sharing arrangements (Note 8) in connection with distributed incentive income, of which $21.5 million has not been expensed because management has determined that it is not probable of being incurred as an expense and will be recovered from the related individuals. As of September 30, 2014, Fortress has recovered $6.4 million from individuals relating to their clawback obligations. If the $1,025.6 million of gross undistributed incentive income were realized, Fortress would recognize and pay an additional $484.0 million of compensation expense.
	(E)	See detailed reconciliations of Distributed-Gross and Undistributed, net of intrinsic clawback below.
Schedule of distributed- gross incentive income	'
	The amounts set forth under Distributed-Gross can be reconciled to the incentive income threshold tables (on the following pages) as follows:
							30-Sep-14
	Distributed incentive income - Private Equity Funds						$	846,671
	Distributed incentive income - Private Equity Funds in Investment or Commitment Period						—
	Distributed incentive income - Credit PE Funds						479,987
	Distributed incentive income - Credit PE Funds in Investment or Commitment Period						119,773
	Distributed incentive income - Private Permanent Capital Vehicle in Investment or						744
	Commitment Period
	Less:
			Fortress Funds which are not subject to a clawback provision:
			—			NIH	(94,513		)
			—			GAGACQ Fund	(51,476		)
			Portion of Fund I distributed incentive income that Fortress is not entitled to (see footnote K of incentive income threshold tables)				(183,196		)
	Distributed-Gross						$	1,117,990
Schedule of undistributed incentive income	'
	The amounts set forth under Undistributed, net of intrinsic clawback can be reconciled to the incentive income threshold tables (on the following pages) as follows:
						30-Sep-14
	Undistributed incentive income - Private Equity Funds					$	13,922
	Undistributed incentive income - Private Equity Funds in Investment or Commitment Period					1,828
	Undistributed incentive income - Credit PE Funds					561,176
	Undistributed incentive income - Credit PE Funds in Investment or Commitment Period					283,159
	Undistributed incentive income - Private Permanent Capital Vehicle in Investment or					4,755
	Commitment Period
	Undistributed incentive income - Hedge Funds (total)					160,624
	Undistributed incentive income - Logan Circle					178
	Less:		Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds			(66,903		)
	Undistributed, net of intrinsic clawback					$	958,739
Schedule of investment funds and incentive income thresholds	'
	The following tables summarize information with respect to the Fortress Funds and their related incentive income thresholds as of September 30, 2014:
	Fund (Vintage) (A)	Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value (“NAV”)				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)			Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
				Capital Invested
	Private Equity Funds
	NIH (1998)	In Liquidation		$	415,574			$	(823,588	)		$	—			$ N/A				$	—		$ N/A			$	—			$	94,513			$	—			$	—			$	—
	Fund I (1999) (K)	Closed May-13		1,015,943				(2,847,929		)		—				N/A				—			N/A			—				344,939				—				—				—
	Fund II (2002)	In Liquidation		1,974,298				(3,442,900		)		2,734				1,471,336				—			N/A			540				288,840				—				—				—
	Fund III (2004)	15-Jan		2,762,992				(2,138,525		)		1,572,491				948,024				1,958,669			1,010,645			—				66,903				66,903				66,903				45,108
	Fund III Coinvestment (2004)	15-Jan		273,649				(225,188		)		74,901				26,440				232,209			205,769			—				—				—				—				—
	Fund IV (2006)	17-Jan		3,639,561				(1,310,031		)		2,957,210				627,680				2,632,585			2,004,905			—				—				—				—				—
	Fund IV Coinvestment (2006)	17-Jan		762,696				(257,537		)		449,513				(55,646		)		562,167			617,813			—				—				—				—				—
	Fund V (2007) (K)	18-Feb		4,103,713				(785,298		)		4,943,372				1,624,957				2,363,286			741,289			1,776				—				—				—				—
	Fund V Coinvestment (2007) (K)	18-Feb		990,480				(90,665		)		588,129				(311,686		)		622,196			933,882			—				—				—				—				—
	GAGACQ Fund (2004) (GAGFAH)	Closed		545,663				(595,401		)		N/A				N/A				N/A			N/A			N/A				51,476				N/A				N/A				N/A
		9-Nov
	FRID (2005) (GAGFAH)	In Liquidation		1,220,229				(1,199,599		)		2,775				(17,855		)		941,358			959,213			—				—				—				—				—
	FRIC (2006) (Brookdale)	In Liquidation		328,754				(289,768		)		1,602				(37,384		)		271,601			308,985			—				—				—				—				—
	FICO (2006) (Intrawest)	17-Jan		724,525				(5		)		(62,120		)		(786,640		)		579,458			1,366,098			—				—				—				—				—
	FHIF (2006) (Holiday)	17-Jan		1,543,463				(532,805		)		1,936,940				926,282				1,124,702			198,420			—				—				—				—				—
	FECI (2007) (Florida East Coast Railway/Florida East Coast Industries)	18-Feb		982,779				(311		)		1,028,944				46,476				718,131			671,655			—				—				—				—				—
	MSR Opportunities Fund I A (2012)	22-Aug		328,882				(92,979		)		332,176				96,273				32,336			N/A			9,293				—				—				—				—
	MSR Opportunities Fund I B (2012)	22-Aug		79,748				(22,521		)		80,368				23,141				7,831			N/A			2,313				—				—				—				—
																										$	13,922			$	846,671			$	66,903			$	66,903			$	45,108
	Private Equity Funds in Investment or Commitment Period
	MSR Opportunities Fund II A (2013)	23-Jul		$	50,605			$	(4,623	)		$	55,932			$	9,950			$	3,037		$ N/A			$	1,470			$	—			$	—			$	—			$	—
	MSR Opportunities Fund II B (2013)	23-Jul		722				(66		)		792				136				43			N/A			20				—				—				—				—
	MSR Opportunities II MA I (2013)	23-Jul		11,609				(1,061		)		12,833				2,285				697			N/A			338				—				—				—				—
	Italian NPL Opportunities (2013)	24-Sep		15,631				—				13,354				(2,277		)		334			2,611			—				—				—				—				—
																										$	1,828			$	—			$	—			$	—			$	—
	Continued on next page.
	Fund (Vintage) (A)		Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value (“NAV”)				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)				Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
					Capital Invested
	Credit PE Funds
	Long Dated Value Fund I (2005)		30-Apr		$	267,325			$	(89,874	)		$	300,739			$	123,288			$	141,875		$	18,587			$	—			$	—			$	—			$	—			$	—
	Long Dated Value Fund II (2005)		30-Nov		274,280				(147,790		)		201,357				74,867				111,423			36,556				—				412				—				—				—
	Long Dated Value Fund III (2007)		Feb-32		343,156				(272,641		)		207,266				136,751				—			N/A				18,908				6,473				—				—				—
	LDVF Patent Fund (2007)		27-Nov		42,457				(39,584		)		36,895				34,022				—			N/A				1,715				1,471				—				—				—
	Real Assets Fund (2007)		17-Jun		359,024				(335,000		)		141,121				117,097				—			N/A				13,004				5,285				—				—				—
	Credit Opportunities Fund (2008)		20-Oct		5,542,293				(6,723,137		)		1,374,412				2,555,256				—			N/A				200,517				301,802				129,383				—				—
	Credit Opportunities Fund II (2009)		22-Jul		2,262,185				(2,164,437		)		1,192,006				1,094,258				—			N/A				144,303				70,318				15,999				—				—
	FCO Managed Account (2010)		22-Jun		574,352				(496,165		)		367,510				289,323				—			N/A				42,587				12,347				—				—				—
	SIP Managed Account (2010)		20-Sep		11,000				(33,700		)		10,872				33,572				—			N/A				2,174				4,540				—				—				—
	Japan Opportunity Fund (2009)		19-Jun		988,462				(1,031,344		)		838,452				881,334				—			N/A				118,261				64,953				16,768				—				—
	Net Lease Fund I (2010)		20-Feb		152,721				(221,668		)		4,959				73,906				—			N/A				303				9,396				6,336				—				—
	Real Estate Opportunities Fund (2011)		24-Sep		533,698				(212,539		)		431,176				110,017				—			N/A				8,402				1,202				635				—				—
	Global Opportunities Fund (2010)		20-Sep		304,304				(157,541		)		212,464				65,701				—			N/A				11,002				1,788				1,788				—				—
																												$	561,176			$	479,987			$	170,909			$	—			$	—
	Credit PE Funds in Investment or Commitment Period
	Credit Opportunities Fund III (2011)		24-Mar		$	2,592,599			$	(1,120,567	)		$	1,988,145			$	516,113			$	—		$ N/A				$	84,579			$	16,459			$	3,898			$	—			$	—
	FCO Managed Accounts (2008-2012)		Apr-22 to Mar-27		3,637,284				(2,624,911		)		2,138,941				1,126,568				—			N/A				140,757				81,856				40,914				—				—
	Japan Opportunity Fund II (Yen) (2011)		21-Dec		616,578				(202,364		)		615,513				201,299				—			N/A				31,563				9,312				—				—				—
	Japan Opportunity Fund II (Dollar) (2011)		21-Dec		562,041				(164,458		)		579,285				181,702				—			N/A				23,569				11,462				—				—				—
	Life Settlements Fund (2010)		22-Dec		390,760				(299,330		)		68,279				(23,151		)		71,057			94,208				—				—				—				—				—
	Life Settlements Fund MA (2010)		22-Dec		31,978				(24,482		)		5,380				(2,116		)		5,836			7,952				—				—				—				—				—
	Real Estate Opportunities REOC Fund (2011)		23-Oct		49,472				(18,840		)		47,593				16,961				—			N/A				2,691				684				316				—				—
	Real Estate Opportunities Fund II(2014)		27-May		121,405				—				121,147				(258		)		1,413			1,671				—				—				—
																												$	283,159			$	119,773			$	45,128			$	—			$	—
	Continued on next page.
	Fund (Vintage) (A)		Maturity Date (B)		Inception to Date				Inception to Date Distributions (C)				Net Asset Value ("NAV")				NAV Surplus (Deficit) (D)				Current Preferred Return Threshold (E)			Gain to Cross Incentive Income Threshold (F)		Undistributed Incentive Income (G)				Distributed Incentive Income (H)				Distributed Incentive Income Subject to Clawback (I)				Gross Intrinsic Clawback (J)				Net Intrinsic Clawback (J)
					Capital Invested
	Private Permanent Capital Vehicle in Investment Period or
	Commitment Period
	WWTAI (2011)		25-Jan		$	499,372			$	(85,231	)		$	471,833			$	57,692			$	34,797		N/A		$	4,755			$	744			$	744			$	—			$	—
Fund (Vintage) (A)		Equity Eligible for Incentive (L)				Gain to Cross Incentive Income Threshold (F)			Life-to-Date Incentive Income Crystallized (P)
Publicly Traded Permanent Capital Vehicles
Newcastle		$	1,650,704			$ (F)			$	41,283
Eurocastle Investment Limited		510,099				156,938			39,217
("Eurocastle")
New Residential Investment Corp.		1,372,067				—			47,795
("New Residential")
New Media (W)		511,028				8,995			—
	Incentive Income Eligible NAV (L)				Gain to Cross Incentive Income Threshold (M)				Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold (N)			Undistributed Incentive Income (O)				Year to Date Incentive Income Crystallized (P)
Liquid Hedge Funds
Macro Funds (Q) (T)
Main fund investments	$	1,585,061			$	73,036			14.1	%		$	458			$	69
Single investor funds	862,958				44,451				0.8	%		19				—
Sidepocket investments (R)	10,574				8,124				N/A			163				334
Sidepocket investments - redeemers (S)	113,342				71,364				N/A			1,132				1,204
Managed accounts	659,948				35,540				0.6	%		10				1
Asia Macro Funds (T)
Main fund investments	2,651,697				67,529				5.5	%		397				—
Managed accounts	325,618				12,925				0	%		—				—
Fortress Convex Asia Funds (T)
Main fund investments	189,061				10,590				11.3	%		14				—
Fortress Partners Funds (T)
Main fund investments	6,230				20,814				0	%		—				—
Sidepocket investments (R)	126,434				19,380				N/A			5,754				—
Credit Hedge Funds
Special Opportunities Funds (T)
Main fund investments	$	4,666,211			$	—			100	%		$	72,838			$	—
Sidepocket investments (R)	63,902				—				N/A			4,779				—
Sidepocket investments - redeemers (S)	213,034				53,072				N/A			5,218				1,217
Main fund investments (liquidating) (U)	516,753				—				100	%		66,615				24,833
Managed accounts	7,919				45,458				0	%		—				—
Worden Funds
Main fund investments	260,911				83				97.9	%		3,182				2
Fortress Japan Income Fund
Main fund investments	13,362				N/A				0	%		—				—
Value Recovery Funds (V)
Managed accounts	17,089				5,249				60.3	%		45				—
Logan Circle
Main fund investments	$	55,000			$	4			0	%		$	—			$	—
Managed accounts	303,882				836				50.7	%		178				—
(A)	Vintage represents the year in which the fund was formed.
(B)	Represents the contractual maturity date including the assumed exercise of all extension options, which in some cases may require the approval of the applicable fund advisory board. Private equity funds that have reached their maturity date are included in the table to the extent they have generated incentive income.
(C)	Includes an increase to the NAV surplus related to the U.S. income tax expense of certain investment entities, which is considered a distribution for the purposes of computing incentive income.
(D)	A NAV deficit represents the gain needed to cross the incentive income threshold (as described in (F) below), excluding the impact of any relevant performance (i.e. preferred return) thresholds (as described in (E) below).
(E)	Represents the gain needed to achieve the current relevant performance thresholds, assuming the gain described in (D) above is already achieved.
(F)	Represents the immediate increase in NAV needed for Fortress to begin earning incentive income, including the achievement of any relevant performance thresholds. It does not include the amount needed to earn back intrinsic clawback (see (J) below), if any. Incentive income is not recorded as revenue until it is received and any related contingencies are resolved (see (I) below). For the publicly traded permanent capital vehicles, represents the immediate increase of the company's applicable supplemental measure of operating performance needed for Fortress to begin earning incentive income. As of September 30, 2014, as a result of Newcastle not meeting the incentive income threshold, Fortress does not expect to earn incentive income from Newcastle for an indeterminate period of time.
(G)	Represents the amount of additional incentive income Fortress would receive if the fund were liquidated at the end of the period at its NAV. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. As of September 30, 2014, a portion of Fund V's capital is above the incentive income threshold.
(H)	Represents the amount of net incentive income previously received from the fund since inception.
(I)	Represents the amount of incentive income previously received from the fund which is still subject to contingencies and is therefore recorded on the consolidated balance sheet as Deferred Incentive Income. This amount will either be recorded as revenue when all related contingencies are resolved, or, if the fund does not meet certain performance thresholds, will be returned by Fortress to the fund (i.e., “clawed back”).
(J)	Represents the amount of incentive income previously received from the fund that would be clawed back (i.e., returned by Fortress to the fund) if the fund were liquidated at the end of the period at its NAV, excluding the effect of any tax adjustments. Employees, former employees and affiliates of Fortress would be required to return a portion of this incentive income that was paid to them under profit sharing arrangements. “Gross” and “Net” refer to amounts that are gross and net, respectively, of this employee/affiliate portion of the intrinsic clawback. Fortress remains liable to the funds for these amounts even if it is unable to collect the amounts from employees/affiliates. Fortress withheld a portion of the amounts due to employees under these profit sharing arrangements as a reserve against future clawback; as of September 30, 2014, Fortress held $31.8 million of such amounts on behalf of employees related to all of the private equity funds.
(K)	The Fund I distributed incentive income amount is presented for the total fund, of which Fortress was entitled to approximately 50%.  Fund V includes Fund V (GLPI Sisterco) and Fund V Coinvestment includes Fund V Coinvestment (GLPI Sisterco).
(L)	Represents the portion of a fund’s or managed account's NAV or trading level that is eligible to earn incentive income. For the publicly traded permanent capital vehicles, represents the equity basis that is used to calculate incentive income.
(M)	Represents, for those investors whose NAV is below the performance threshold Fortress needs to obtain before it can earn incentive income from such investors (their “incentive income threshold” or “high water mark”), the amount by which their aggregate incentive income thresholds exceed their aggregate NAVs. The amount by which the NAV of each investor within this category is below their respective incentive income threshold varies and, therefore, Fortress may begin earning incentive income from certain investors before this entire amount is earned back. Fortress earns incentive income whenever the assets of new investors, as well as of investors whose NAV exceeds their incentive income threshold, increase in value. For Fortress Japan Income Fund, Fortress earns incentive income based on investment income, which does not include unrealized and realized gains and losses, earned in excess of a preferred return threshold.
(N)	Represents the percentage which is computed by dividing (i) the aggregate NAV of all investors who are at or above their respective incentive income thresholds, by (ii) the total incentive income eligible NAV of the fund. The amount by which the NAV of each fund investor who is not in this category is below their respective incentive income threshold may vary, and may vary significantly. This percentage represents the performance of only the main fund investments and managed accounts relative to their respective incentive income thresholds. It does not incorporate the impact of unrealized losses on sidepocket investments that can reduce the amount of incentive income earned from certain funds. See footnote (R) below.
(O)	Represents the amount of additional incentive income Fortress would earn from the fund or managed account if it were liquidated at the end of the period at its NAV. This amount is currently subject to performance contingencies generally until the end of the year or, in the case of sidepocket investments, until such investments are realized. Main Fund Investments (Liquidating) pay incentive income only after all capital is returned. For the Fortress Japan Income Fund, represents the amount of incentive income Fortress would earn from the fund assuming the amount of investment income earned in excess of the preferred return threshold was distributed as of the end of the period. For the Value Recovery Fund managed accounts, Fortress can earn incentive income if aggregate realizations exceed an agreed threshold. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles.
(P)	Represents the amount of incentive income Fortress has earned in the current period which is not subject to clawback. For the publicly traded permanent capital vehicles, represents the life-to-date incentive income amount that Fortress has earned and which is not subject to clawback.
(Q)	The Drawbridge Global Macro SPV (the “SPV”), which was established in February 2009 to liquidate illiquid investments and distribute the proceeds to then existing investors, is not subject to incentive income and is therefore not presented in the table. However, realized gains or losses within the SPV can decrease or increase, respectively, the gain needed to cross the incentive income threshold for investors with a corresponding investment in the main fund. The unrealized gains and losses within the SPV at September 30, 2014, as if they became realized, would not materially impact the amounts presented in the table.
(R)	Represents investments held in sidepockets (also known as special investment accounts), which generally have investment profiles similar to private equity funds. The performance of these investments may impact Fortress’s ability to earn incentive income from main fund investments. For the credit hedge funds and Fortress Partners Funds, realized and unrealized losses from individual sidepockets below original cost may reduce the incentive income earned from main fund investments. For the Macro Funds, only realized losses from individual sidepockets reduce the incentive income earned from main fund investments. Based on current unrealized losses in Macro Fund sidepockets, if all of the Macro Fund sidepockets were liquidated at their NAV at September 30, 2014, the undistributed incentive income from the Macro main fund would not be impacted.
(S)	Represents investments held in sidepockets for investors with no corresponding investment in the related main fund investments. In the case of the Macro Funds, such investors may have investments in the SPV (see (Q) above).
(T)	Includes onshore and offshore funds.
(U)	Relates to accounts where investors have provided return of capital notices and are subject to payout as underlying fund investments are realized.
(V)	Excludes the Value Recovery Funds which had a NAV of $292.3 million at September 30, 2014. Fortress began managing the third party originated Value Recovery Funds in June 2009 and generally does not expect to earn any significant incentive income from the fund investments.
(W)	Fortress has a management agreement with New Media whereby it may earn incentive income. New Media is a VIE consolidated by Fortress (see Note 1) and as a result any New Media incentive income earned by Fortress is eliminated in consolidation. However, Fortress has included New Media in the above table solely for informational purposes.
Schedule of private equity funds formed during the period	'
	During the nine months ended September 30, 2014, Fortress formed new Private Equity and Credit PE funds which had capital commitments as follows as of September 30, 2014:
		Private Equity (A)				Credit PE
	Fortress	$	11,533			$	12,000
	Fortress's affiliates	303,285				1,205
	Third party investors	765,512				284,630
	Total capital commitments	$	1,080,330			$	297,835
	(A)    Private equity includes a new fund which is a consolidated VIE.
Schedule of Liquid Hedge Funds and Credit Hedge Funds	'
	During the nine months ended September 30, 2014, Fortress formed, or became the manager of, hedge funds with net asset values as follows as of September 30, 2014:
		Liquid Hedge Funds (B)				Credit Hedge Funds
	Fortress	$	47,029			$	—
	Fortress's affiliates	34,887				—
	Third party investors	—				13,362
	Total capital NAV (A)	$	81,916			$	13,362
	(A)	Or other fee paying basis, as applicable.
	(B)	Liquid hedge funds includes a new fund which is a consolidated VIE.

INVESTMENTS_AND_FAIR_VALUE_Tab

INVESTMENTS AND FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2014
Investments and Fair Value	'
Summary of investments	'
	Investments can be summarized as follows:
		30-Sep-14				31-Dec-13
	Equity method investees	$	1,086,449			$	1,174,878
	Equity method investees, held at fair value (A)	13,506				78,388
	Total equity method investments	$	1,099,955			$	1,253,266
	Options in equity method investees	$	70,251			$	104,338
	(A)	Includes publicly traded private equity portfolio companies, primarily GAGFAH (the sale of which was completed in June 2014), as well as the publicly traded permanent capital vehicles (NCT, NRZ and ECT).  Does not include New Media which is eliminated in consolidation.
Summary of gains (losses)	'
	Gains (losses) can be summarized as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014					2013
	Net realized gains (losses)	$	(10,150	)		$	36			$	(9,558	)			$	(335	)
	Net realized gains (losses) from affiliate investments	3,640				6,616				47,988			(A)		6,499
	Net unrealized gains (losses)	16,845				52				11,321					5,654
	Net unrealized gains (losses) from affiliate investments	(29,694		)		799				(75,986		)	(A)		33,760
	Total gains (losses)	$	(19,359	)		$	7,503			$	(26,235	)			$	45,578
	(A)	Includes the impact of the sale of GAGFAH which was completed in June 2014.
	Gains (losses) can be summarized as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Net realized gains (losses)	$	(5,743	)		$	—			$	(8,744	)		$	—
	Net unrealized gains (losses)	752				—				4,317				—
		$	(4,991	)		$	—			$	(4,427	)		$	—
Schedule of gains (losses) generated	'
	These gains (losses) were generated as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Mark to fair value on investments and options	$	(2,076	)		$	—			$	(1,258	)		$	—
	Mark to fair value on derivatives	(2,915		)		—				(3,169		)		—
		$	(4,991	)		$	—			$	(4,427	)		$	—
	These gains (losses) were generated as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Mark to fair value on affiliate investments and options	$	(25,777	)		$	7,008			$	(27,743	)		$	39,590
	Mark to fair value on derivatives	11,994				(1,476		)		8,300				3,805
	Mark to fair value on equity securities	(98		)		1,527				672				1,524
	Realized gains (losses) on digital currency (Bitcoin)	(11,515		)		—				(11,515		)		—
	Reversal of prior period unrealized (gains) losses on digital	5,974				—				3,702				—
	currency (Bitcoin)
	Other	63				444				349				659
	Total gains (losses)	$	(19,359	)		$	7,503			$	(26,235	)		$	45,578
Summary of financial information related to equity method investments	'
	Summary financial information related to these investments is as follows:
		Fortress’s Investment								Fortress’s Equity in Net Income (Loss)
		September 30,				December 31,				Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013				2014				2013
	Private equity funds, excluding NIH	$	711,567			$	786,093			$	31,278			$	44,469			$	48,628			$	79,711
	NIH	—				—				—				—				—				(554		)
	Publicly traded portfolio companies (A)(B)	1,022				63,001				N/A				N/A				N/A				N/A
	WWTAI	3,799				3,801				(6		)		83				(64		)		218
	Newcastle (B)	4,383				5,953				N/A				N/A				N/A				N/A
	New Residential (B)	6,046				6,928				N/A				N/A				N/A				N/A
	Eurocastle (B)	2,055				2,506				N/A				N/A				N/A				N/A
	Total private equity	728,872				868,282				31,272				44,552				48,564				79,375
	Liquid hedge funds	126,649				158,920				515				7,525				3,801				14,138
	Credit hedge funds	56,773				58,825				1,595				3,372				6,404				9,037
	Credit PE funds	178,471				159,044				4,810				5,311				22,204				23,161
	Other	9,190				8,195				736				(252		)		777				(196		)
		$	1,099,955			$	1,253,266			$	38,928			$	60,508			$	81,750			$	125,515
	(A)	Represents Fortress’s direct investments in the common stock of publicly traded private equity portfolio companies, primarily GAGFAH (the sale of which was completed in June 2014).
	(B)	Fortress elected to record these investments at fair value pursuant to the fair value option for financial instruments.
Summary of changes in investments in equity method investees	'
	A summary of the changes in Fortress’s investments in equity method investees is as follows:
		Nine Months Ended September 30, 2014
		Private Equity
		NIH				Other Funds				Publicly Traded Portfolio Companies (A)				Permanent Capital Vehicles (A)				Liquid Hedge Funds				Credit Hedge Funds				Credit PE Funds				Other				Total
	Investment, beginning	$	—			$	786,093			$	63,001			$	19,188			$	158,920			$	58,825			$	159,044			$	8,195			$	1,253,266
	Earnings from equity method investees	—				48,628				N/A				(64		)		3,801				6,404				22,204				777				81,750
	Other comprehensive income from equity	—				—				N/A				—				—				—				—				—				—
	method investees
	Contributions to equity method investees (B)	—				2,290				—				(49		)		89,324				167,669				28,949				568				288,751
	Distributions of earnings from equity	—				(48,139		)		N/A				(38		)		(4,482		)		(6,196		)		(19,449		)		(33		)		(78,337		)
	method investees
	Distributions of capital from equity	—				(77,730		)		N/A				147				(120,914		)		(169,929		)		(11,445		)		(107		)		(379,978		)
	method investees (B)
	Total distributions from equity method	—				(125,869		)		—				109				(125,396		)		(176,125		)		(30,894		)		(140		)		(458,315		)
	investees
	Mark to fair value - during period (C)	N/A				(1,249		)		5,186				(1,777		)		N/A				N/A				N/A				N/A				2,160
	Translation adjustment	—				—				(741		)		(188		)		—				—				(830		)		—				(1,759		)
	Dispositions	—				—				(66,424		)		—				—				—				(2		)		(210		)		(66,636		)
	Reclassification to Due to Affiliates (D)	—				1,674				—				—				—				—				—				—				1,674
	Consolidation of Non-Investment Manager (E)	—				—				—				(936		)		—				—				—				—				(936		)
	Investment, ending	$	—			$	711,567			$	1,022			$	16,283			$	126,649			$	56,773			$	178,471			$	9,190			$	1,099,955
	Ending balance of undistributed earnings	$	—			$	77,818			$ N/A				$	—			$	386			$	2,195			$	10,978			$	2,719			$	94,096
	(A)	Fortress elected to record the publicly traded private equity portfolio companies and the publicly traded permanent capital vehicles at fair value pursuant to the fair value option for financial instruments. Does not include New Media which is eliminated in consolidation.
	(B)	The amounts presented above can be reconciled to the amounts presented on the statement of cash flows as follows:
		Nine Months Ended September 30, 2014
		Contributions				Distributions of Capital
	Per consolidated statements of cash flows	$	21,487			$	(368,373	)
	Investments of incentive receivable amounts into Fortress Funds	256,993				—
	Change in distributions payable out of Fortress Funds	—				176
	Net funded*	10,271				(10,271		)
	Other	—				(1,510		)
	Per Above	$	288,751			$	(379,978	)
	*	In some instances, a private equity style fund may need to simultaneously make both a capital call (for new investments or expenses) and a capital distribution (related to realizations from existing investments). This results in a net funding.
	(C)	Recorded to Gains (Losses).
	(D)	Represents a portion of the general partner liability discussed in Note 10.
	(E)	Represents the elimination of Fortress's direct investment in New Media, a consolidated VIE, as of the date of consolidation.
Schedule reconciling capital activity in equity method investments to the statement of cash flows	'
	The amounts presented above can be reconciled to the amounts presented on the statement of cash flows as follows:
		Nine Months Ended September 30, 2014
		Contributions				Distributions of Capital
	Per consolidated statements of cash flows	$	21,487			$	(368,373	)
	Investments of incentive receivable amounts into Fortress Funds	256,993				—
	Change in distributions payable out of Fortress Funds	—				176
	Net funded*	10,271				(10,271		)
	Other	—				(1,510		)
	Per Above	$	288,751			$	(379,978	)
	*	In some instances, a private equity style fund may need to simultaneously make both a capital call (for new investments or expenses) and a capital distribution (related to realizations from existing investments). This results in a net funding.
Schedule of ownership percentages in the tables reflective of the ownership interests held as of the end of the respective periods	'
	The ownership percentages presented in the following tables are reflective of the ownership interests held as of the end of the respective periods. For tables which include more than one Fortress Fund, the ownership percentages are based on a weighted average by total equity of the funds as of period end. NIH, the permanent capital vehicles, the publicly traded portfolio companies and Other are not presented as they are insignificant to Fortress’s investments.
		Private Equity Funds excluding NIH (B)
		September 30,				December 31,
		2014				2013
	Assets	$	14,267,465			$	16,982,954
	Debt	(3,251		)		(1,626		)
	Other liabilities	(141,389		)		(185,144		)
	Equity	$	14,122,825			$	16,796,184
	Fortress’s Investment	$	711,567			$	786,093
	Ownership (A)	5		%		4.7		%
		Nine Months Ended September 30,
		2014				2013
	Revenues and gains (losses) on investments	$	891,148			$	2,731,208
	Expenses	(146,652		)		(148,233		)
	Net Income (Loss)	$	744,496			$	2,582,975
	Fortress’s equity in net income (loss)	$	48,628			$	79,711
		Liquid Hedge Funds								Credit Hedge Funds								Credit PE Funds (B) (C)
		September 30,				December 31,				September 30,				December 31,				September 30,				December 31,
		2014				2013				2014				2013				2014				2013
	Assets	$	18,115,038			$	13,167,316			$	11,311,558			$	10,226,023			$	11,445,230			$	10,544,754
	Debt	—				—				(4,468,255		)		(3,918,692		)		(168,275		)		(161,225		)
	Other liabilities	(11,119,029		)		(6,735,989		)		(382,626		)		(332,510		)		(367,364		)		(311,538		)
	Non-controlling interest	—				—				(13,605		)		(6,470		)		(4,456		)		(3,461		)
	Equity	$	6,996,009			$	6,431,327			$	6,447,072			$	5,968,351			$	10,905,135			$	10,068,530
	Fortress’s Investment	$	126,649			$	158,920			$	56,773			$	58,825			$	178,471			$	159,044
	Ownership (A)	1.8		%		2.5		%		0.9		%		1		%		1.6		%		1.6		%
		Nine Months Ended September 30,								Nine Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013				2014				2013
	Revenues and gains	$	(32,720	)		$	538,394			$	797,387			$	975,979			$	1,687,296			$	1,296,556
	(losses) on investments
	Expenses	(161,404		)		(111,418		)		(258,480		)		(182,961		)		(194,818		)		(233,363		)
	Net Income (Loss)	$	(194,124	)		$	426,976			$	538,907			$	793,018			$	1,492,478			$	1,063,193
	Fortress’s equity in net	$	3,801			$	14,138			$	6,404			$	9,037			$	22,204			$	23,161
	income (loss)
	(A)	Excludes ownership interests held by other Fortress Funds, the Principals, employees and other affiliates.
	(B)	For Private Equity Funds, includes four entities which are recorded on a one quarter lag (i.e. current year balances reflected for these entities are for the period ended June 30, 2014). For Credit PE Funds, includes one entity which is recorded on a one quarter lag and several entities which are recorded on a one month lag. They are recorded on a lag because they are foreign entities, or they have substantial operations in foreign countries, and do not provide financial reports under GAAP within the reporting time frame necessary for U.S. public entities.
	(C)	Includes certain entities in which Fortress has both a direct and an indirect investment.
Schedule of variable interest entities	'
	Entities initially classified as variable interest entities during the nine months ended September 30, 2014:
			Fortress is not Primary Beneficiary
	Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
	Credit PE Funds		6			$	100,023			$	33,562			$	1,093			(D)
	Logan Circle		2			105,037				—				—				(C)
	Liquid Hedge Funds		2			34,982				—				95				(D)
			Fortress is Primary Beneficiary
	Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
	Private Equity Funds		1			$	58,476			$	—			$	50			(F)
	Permanent Capital Vehicles		1			822,977				232,275				6,474				(G)
	(Non-Investment Manager)
	Liquid Hedge Funds		1			133,730				37,258				47,532				(F)
	Credit Hedge Funds		3			—				—				—				(G)
	All variable interest entities:
			Fortress is not Primary Beneficiary
			30-Sep-14															31-Dec-13
	Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
	Private Equity Funds		1			$	547			$	—			$	—			1			$	789			$	—			$	155			(C)
	Permanent Capital Vehicles		3			13,310,838				9,421,240				123,477				3			13,950,294				9,804,741				145,472				(C)
	Liquid Hedge Funds		4			4,894,165				1,682,004				4,789				2			4,897,650				2,343,406				40,816				(D)
	Credit Hedge Funds		6			2,010,902				259,722				3,122				6			1,966,802				370,607				50,945				(D) (E)
	Credit PE Funds		37			1,163,735				144,090				6,728				33			1,229,250				362,642				5,350				(D) (E)
	Logan Circle		3			360,917				—				195				1			244,828				—				144				(C)
			Fortress is Primary Beneficiary
			30-Sep-14															31-Dec-13
	Business Segment		Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Number of VIEs			Gross Assets				Financial Obligations (A)				Fortress Investment (B)				Notes
	Private Equity Funds		2			$	96,459			$	—			$	11,444			1			$	52,976			$	—			$	15,868			(F) (H)
	Permanent Capital Vehicles		1			822,977				232,275				6,474				—			—				—				—				(G)
	(Non-Investment Manager)
	Liquid Hedge Funds		1			133,730				37,258				47,532				—			—				—				—				(F)
	Credit Hedge Funds		3			—				—				—				—			—				—				—				(G)
	(A)	Represents financial obligations of the VIEs, which are not recourse to Fortress. Financial obligations include financial borrowings, derivative liabilities and short securities. In many cases, these VIEs have additional debt within unconsolidated subsidiaries. The debt obligations of the VIEs are not cross collateralized with the debt obligations of Fortress.  Fortress has no obligation to satisfy the liabilities of the VIEs. Similarly, Fortress does not have the right to make use of the assets of the VIEs to satisfy its obligations. The VIE’s debt obligations have no impact on Fortress’s cash flows and its ability to borrow or comply with its debt covenants under its revolving credit agreement.
	(B)	Represents Fortress’s maximum exposure to loss with respect to these entities, which includes direct and indirect investments in these entities, plus any receivables due from these entities. In addition to the table above, Fortress is exposed to potential changes in cash flow and revenues attributable to the management fees and/or incentive income Fortress earns from those entities. For VIEs where Fortress is deemed to be the primary beneficiary, these investments and receivables are eliminated in consolidation but still represent Fortress’s economic exposure to the VIEs.
	(C)	Includes Fortress Funds that are a VIE because the fund's at-risk equity holders as a group lack the characteristics of a controlling financial interest because (i) the decision making is through a management contract that is not an at-risk equity investment and/or (ii) the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Fortress is the investment manager of these funds. Fortress is not the primary beneficiary of these funds because it and its related parties do not absorb a majority of the funds' expected losses or residual returns based on a quantitative analysis.
	(D)	Includes entities (including investing vehicles and master funds) that are a VIE because the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because either (i) the group of at-risk equity holders does not have the ability to make decisions or have power over the activities that most significantly affect the success of the entity or impact the entity's economic performance and/or (ii) the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Among the related party group, a Fortress Fund is determined to be most closely associated with, and thus is the primary beneficiary of, these VIEs because the VIE was designed to act on behalf of the Fortress Fund to make investments.  In addition, the activities of the VIE are more significant to the Fortress Fund, and in evaluating exposure to the expected losses or variability associated with the economic performance of the VIEs, in most cases the Fortress Fund holds both a majority ownership and majority economic interest in the VIE.
	(E)	Includes entities that are a VIE because the entity's equity investment at-risk is determined to be insufficient. Fortress is not the general partner, managing member or investment manager of these entities. The primary beneficiary of these entities is the third party investor who either is the general partner or has a majority ownership interest and a majority economic interest and power over the entity. These entities represent an insignificant portion of the amounts presented in the table.
	(F)	Includes entities that are a VIE because the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity’s activities either involve or are conducted on behalf of that investor and its related parties. Fortress is determined to be most closely associated with, and thus is the primary beneficiary of, these VIEs. As of September 30, 2014, includes $58.5 million and $133.7 million of gross assets of a consolidated private equity fund and liquid hedge fund, respectively, which are disclosed under Investment Company, consolidated VIEs in the consolidated financial statements.
	(G)	Includes entities that are a VIE because (i) the entity's equity investment at-risk is determined to be insufficient and/or (ii) the entity’s at-risk equity holders as a group lack the characteristics of a controlling financial interest because the decision making is through a management contract that is not an at-risk equity investment. Fortress is the investment manager of these entities.  Fortress is determined to be the primary beneficiary of these entities since it has both power over the activities that most significantly affect the success of the entity or impact the entity’s economic performance and has the right to receive benefits from the VIE that potentially could be significant to the entity. Included in credit hedge funds are investment vehicles formed during the second quarter of 2014. As of September 30, 2014, the credit hedge fund investment vehicles did not hold any assets or have any debt outstanding.
	(H)	Includes an entity that is a VIE because the entity’s equity investment at risk is determined to be insufficient.  Fortress, as a result of directing the operations of the entity through its management contracts with certain funds, and providing financial support to the entity, was deemed to be its primary beneficiary.
Schedule of information regarding the entity's financial instruments that are recorded at fair value	'
	The following table presents information regarding Fortress’s financial instruments that are recorded at fair value. Investments denominated in foreign currencies have been translated at the period end exchange rate. Changes in fair value are recorded in Gains (Losses).
		Fair Value								Valuation Method
		30-Sep-14				31-Dec-13
	Investment Manager
	Assets (within Investments)
	Newcastle, New Residential and Eurocastle common shares	$	12,484			$	15,387			Level 1 - Quoted prices in active markets for identical assets
	Common stock of publicly traded	1,022				63,001				Level 1 - Quoted prices in active markets for identical assets
	private equity portfolio companies
	Total equity method investments	$	13,506			$	78,388
	carried at fair value
	Newcastle, New Residential and Eurocastle options	$	70,251			$	104,338			Level 2 - Option valuation models using significant observable inputs
	Assets (within Other Assets)
	Derivatives	$	17,785			$	9,749			Level 2 - See below
		$	16,990			$	23,005			Level 1 - Quoted prices in active markets for identical assets
	Equity Securities (A)
	Liabilities (within Accrued
	Compensation and Benefits)
	Options in affiliates granted to	$	(8,831	)		$	(16,390	)		Level 2 - Option valuation models using significant observable inputs
	employees
	Liabilities (within Other Liabilities)
	Derivatives	$	(2,416	)		$	(1,820	)		Level 2 - See below
	(A)	Represents direct investments made by Fortress in accounts managed by Logan Circle's growth equities business. The equity investments in these accounts are owned on Fortress's behalf and are held at fair value and classified as trading.
Schedule of the entity's derivatives (not designated as hedges)	'
	Fortress’s derivatives (not designated as hedges) are recorded as follows:
		Balance Sheet		September 30, 2014 (or nine months ended)												Maturity
		Location (A)		Fair Value				Notional Amount				Gains/(Losses) (B)				Date
	Foreign exchange forward contracts	Other Assets		$	1,088			¥	1,776,837			$	1,088			Dec 14 - Jun 16
	Foreign exchange option contracts	Other Assets		$	16,697			¥	40,835,266			$	7,730			Dec 14 - Mar 17
	Foreign exchange option contracts	Other Liabilities		$	(2,416	)		¥	4,719,235			$	(606	)		Dec 14 - Sep 17
	(A)	Fortress has a master netting agreement with its counterparty.
	(B)	Reflects unrealized gains (losses) related to contracts existing at period end.
Investments	'
	Investments, at fair value, consist primarily of financial instruments held by the Investment Company, and are comprised of the following:
		30-Sep-14								Percentage of
		Cost				Fair Value				Investment Company
	Common stock	$	71,437			$	70,351			52	%
	Investments in affiliates (A)	58,155				58,155				43	%
	Options	822				590				1	%
	Derivatives	—				4,761				4	%
		$	130,414			$	133,857			100	%
	(A)	Represents equity investments in private portfolio companies.
Investment Company liabilities	'
	Investment Company liabilities consist primarily of securities sold not yet purchased, at fair value and options and derivatives which are included in Other liabilities on the consolidated balance sheet.
		September 30, 2014								Percentage of
		Cost				Fair Value				Investment Company
	Securities sold not yet purchased, at fair value	$	38,902			$	37,258			98	%
	Options	33				23				0	%
	Derivatives	—				780				2	%
		$	38,935			$	38,061			100	%
Fair value, assets measured on recurring basis	'
	The following summarizes the assets and liabilities held by the Investment Company measured at fair value, on a recurring basis within the fair value hierarchy as of September 30, 2014.
		Financial assets as of September 30, 2014
		Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
	Common Stock	$	70,351			$	—			$	—			$	70,351
	Investments in affiliates	—				—				58,155				58,155
	Options	375				215				—				590
	Derivatives (A)	43				5,511				—				5,554
		$	70,769			$	5,726			$	58,155			$	134,650
		Financial liabilities as of September 30, 2014
		Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
	Securities sold not yet purchased, at fair value	37,258				—				—				37,258
	Options	—				23				—				23
	Derivatives (A)	88				1,485				—				1,573
		$	37,346			$	1,508			$	—			$	38,854
	(A)	GAAP requires that reporting entities provide sufficient information to permit a reconciliation of the fair value measurement hierarchy disclosures to the consolidated balance sheet. The amounts presented in the table above are presented on a gross basis and, therefore, do not take into consideration rights to offset in the netting agreements. Provided these investments are held with the same legal counterparty governed by the Investment Company's standard trading agreements (the "Netting agreement"), certain balances are presented on a net basis in the consolidated balance sheet. See table below for a reconciliation between the gross and net amounts of each financial instrument type.
	(B)	Level 1 - Fair value is determined using quoted unadjusted prices in active markets for identical assets or liabilities.
	(C)	Level 2 - Fair value is determined using quotations received from dealers making a market for these assets or liabilities, valuations obtained from independent third-party pricing services, the use of models or other valuation methodologies based on pricing inputs that are either directly or indirectly market observable as of the measurement date.
	(D)	Level 3 - Fair value is determined using pricing inputs that are unobservable in the market and includes situations where there is little, if any, market activity for the asset or liability. The fair value of assets and liabilities in this category may require significant judgment or estimation in determining fair value of the assets or liabilities. The fair value of these assets and liabilities may be estimated using a combination of observed transaction prices, independent pricing services, relevant broker quotes, models or other valuation methodologies based on pricing inputs that are neither directly or indirectly market observable.
Fair value, liabilities measured on recurring basis	'
	The following summarizes the assets and liabilities held by the Investment Company measured at fair value, on a recurring basis within the fair value hierarchy as of September 30, 2014.
		Financial assets as of September 30, 2014
		Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
	Common Stock	$	70,351			$	—			$	—			$	70,351
	Investments in affiliates	—				—				58,155				58,155
	Options	375				215				—				590
	Derivatives (A)	43				5,511				—				5,554
		$	70,769			$	5,726			$	58,155			$	134,650
		Financial liabilities as of September 30, 2014
		Level 1 (B)				Level 2 (C)				Level 3 (D)				Total
	Securities sold not yet purchased, at fair value	37,258				—				—				37,258
	Options	—				23				—				23
	Derivatives (A)	88				1,485				—				1,573
		$	37,346			$	1,508			$	—			$	38,854
	(A)	GAAP requires that reporting entities provide sufficient information to permit a reconciliation of the fair value measurement hierarchy disclosures to the consolidated balance sheet. The amounts presented in the table above are presented on a gross basis and, therefore, do not take into consideration rights to offset in the netting agreements. Provided these investments are held with the same legal counterparty governed by the Investment Company's standard trading agreements (the "Netting agreement"), certain balances are presented on a net basis in the consolidated balance sheet. See table below for a reconciliation between the gross and net amounts of each financial instrument type.
	(B)	Level 1 - Fair value is determined using quoted unadjusted prices in active markets for identical assets or liabilities.
	(C)	Level 2 - Fair value is determined using quotations received from dealers making a market for these assets or liabilities, valuations obtained from independent third-party pricing services, the use of models or other valuation methodologies based on pricing inputs that are either directly or indirectly market observable as of the measurement date.
	(D)	Level 3 - Fair value is determined using pricing inputs that are unobservable in the market and includes situations where there is little, if any, market activity for the asset or liability. The fair value of assets and liabilities in this category may require significant judgment or estimation in determining fair value of the assets or liabilities. The fair value of these assets and liabilities may be estimated using a combination of observed transaction prices, independent pricing services, relevant broker quotes, models or other valuation methodologies based on pricing inputs that are neither directly or indirectly market observable.
Offsetting of financial assets and derivative assets	'
	Offsetting of Financial Assets and Derivative Assets
										Net Amounts of Assets
						Gross Amounts Offset				Presented in the
		Gross Amounts of				in the Consolidated				Consolidated
		Recognized Assets as of				Balance Sheet as of				Balance Sheet as of
		September 30, 2014				September 30, 2014				September 30, 2014
	Options	$	590			$	—			$	590
	Derivatives	5,554				(793		)		4,761
		$	6,144			$	(793	)		$	5,351
Offsetting of financial liabilities and derivative liabilities	'
	Offsetting of Financial Liabilities and Derivative Liabilities
						Gross Amounts				Net Amounts of Liabilities
						Offset in the				Presented in the
		Gross Amounts of				Consolidated				Consolidated
		Recognized Liabilities as of				Balance Sheet as of				Balance Sheet as of
		September 30, 2014				September 30, 2014				September 30, 2014
	Options	$	23			$	—			$	23
	Derivatives	1,573				(793		)		780
		$	1,596			$	(793	)		$	803

DEBT_OBLIGATIONS_Tables

DEBT OBLIGATIONS (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

'

Schedule of debt instruments

'

Face Amount and Carrying Value

Contractual

Final

30-Sep-14

September 30,

December 31,

Interest

Stated

Amount

Debt Obligation

2014

2013

Rate

Maturity

Available for Draws

Revolving credit agreement (A)(B)

$

75,000

$

—

LIBOR + 2.50% (C)

Feb-16

$

72,332

Total

$

75,000

$

—

(A)

Collateralized by substantially all of Fortress Operating Group’s assets as well as Fortress Operating Group’s rights to fees from the Fortress Funds and its equity interests therein, other than fees from Fortress's senior living property manager.

(B)

The $150.0 million revolving debt facility includes a $15.0 million letter of credit subfacility of which $2.7 million was utilized.

(C)

Subject to unused commitment fees of 0.4% per annum.

Schedule of the financial covenant requirements

'

Fortress was in compliance with all of its debt covenants as of September 30, 2014. The following table sets forth the financial covenant requirements as of September 30, 2014.

30-Sep-14

(dollars in millions)

Requirement

Actual

Notes

AUM, as defined

≥

$

25,000

$

45,311

(A)

Consolidated Leverage Ratio

≤

2

0.23

(B)

Consolidated Interest Coverage Ratio

≥

4

112.12

(B)

(A)

Impacted by capital raised in funds, redemptions from funds, and valuations of fund investments. The AUM presented here is based on the definition contained in the credit agreement.

(B)

The Consolidated Leverage Ratio is equal to Adjusted Net Funded Indebtedness, as defined, divided by the trailing four quarters’ Consolidated EBITDA, as defined. The Consolidated Interest Coverage Ratio is equal to the quotient of (A) the trailing four quarters' Consolidated EBITDA, as defined, divided by (B) the trailing four quarters' interest charges as defined in the Credit Agreement. Consolidated EBITDA, as defined, is impacted by the same factors as distributable earnings, except Consolidated EBITDA is not impacted by changes in clawback reserves or gains and losses, including impairment, on investments.

Schedule of maturities of long-term debt

'

As of September 30, 2014, scheduled principal payments of New Media's outstanding debt are as follows:

Amount

October 1, 2014 through December 31, 2014

$

563

2015

2,250

2016

2,250

2017

2,813

2018

1,687

Thereafter

230,437

240,000

Less: Original issue discount

7,725

Total New Media debt obligations

$

232,275

INCOME_TAXES_AND_TAX_RELATED_P1

INCOME TAXES AND TAX RELATED PAYMENTS (Tables)	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of components of provision for income taxes	'
	The provision for income taxes consists of the following:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Current
	Federal income tax expense (benefit)	$	4,057		$	3,150		$	(395	)	$	(16,366	)
	Foreign income tax expense (benefit)	2,358			2,038			6,966			4,942
	State and local income tax expense (benefit)	939			1,712			1,937			612
		7,354			6,900			8,508			(10,812		)
	Deferred
	Federal income tax expense (benefit)	(4,065		)	6,777			6,548			45,327
	Foreign income tax expense (benefit)	432			(62		)	1,108			(22		)
	State and local income tax expense (benefit)	(697		)	1,179			770			7,743
		(4,330		)	7,894			8,426			53,048
	Total expense (benefit)	$	3,024		$	14,794		$	16,934		$	42,236
	Income tax expense (benefit) consists of the following:
					Period from
		Three Months Ended			14-Feb-14
		30-Sep-14			30-Sep-14
	Current
	Federal income expense (benefit)	$	—		$	—
	State and local income expense (benefit)	—			—
		—			—
	Deferred
	Federal income expense (benefit)	2,495			1,365
	State and local income expense (benefit)	621			339
		3,116			1,704
	Total New Media income tax expense (benefit)	$	3,116		$	1,704
Schedule of tax effects of temporary differences that have resulted in deferred income tax assets and liabilities	'
	The tax effects of temporary differences have resulted in deferred income tax assets and liabilities as follows:
		30-Sep-14			31-Dec-13
	Total deferred tax assets	$	421,907		$	421,027
	Less:
	Valuation allowance	(26,726		)	(49,805		)
	Deferred tax liabilities (A)	(9,880		)	(16,696		)
	Deferred tax assets, net	$	385,301		$	354,526
	(A)	The deferred tax liabilities primarily relate to timing differences in the recognition of income from compensatory options received from the publicly traded permanent capital vehicles. Deferred tax assets are shown net of deferred tax liabilities since they are both primarily of similar tax character and tax jurisdiction.
	The tax effects of temporary differences that give rise to significant portions of the net deferred tax liabilities, included in other liabilities, net on the consolidated balance sheets, as of September 30, 2014 are presented below:
		September 30, 2014
	Definite and indefinite lived intangible assets	$	78,605
	Net operating losses	102,258
	Other	25,337
	Total deferred tax assets	206,200
	Less:
	Valuation allowance	(169,533		)
	Deferred tax liabilities (A)	(38,371		)
	Deferred tax liabilities, net	$	(1,704	)
	(A)	The deferred tax liabilities primarily relate to timing differences in the recognition of depreciation expense related to fixed assets. Deferred tax assets are shown net of deferred tax liabilities since they are both primarily of similar tax character and tax jurisdiction.
Summary of the change in the deferred tax asset valuation allowance	'
	The following table summarizes the change in the deferred tax asset valuation allowance:
	Valuation Allowance at December 31, 2013	$	49,805
	Changes due to FIG Corp. ownership change	(1,472		)
	Net decreases (A)	(21,607		)
	Valuation Allowance at September 30, 2014	$	26,726
	(A)	Primarily related to the write-off of certain fully reserved deferred tax assets associated with funds in the process of liquidation, offset by the change in the portion of the deferred tax asset that would be realized in connection with future capital gains.

RELATED_PARTY_TRANSACTIONS_AND1

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Tables)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of components of due from affiliates	'
	Due from affiliates was comprised of the following:
		Private Equity						Liquid			Credit
					Permanent			Hedge			Hedge					Logan
		Funds			Capital Vehicles			Funds			Funds			PE Funds		Circle		Other		Total
	September 30, 2014
	Management fees and incentive income (A)	$	34,843		$	37,434		$	842		$	1,483		$	16,542	$	937	$	—	$	92,081
	Expense reimbursements (A)	1,332			4,723			6,906			7,965			7,322		156		—		28,404
	Expense reimbursements - FCF (B)	27,774			124			—			—			—		—		—		27,898
	Dividends and distributions	—			324			—			—			—		—		—		324
	Other	—			658			—			—			—		—		15,709		16,367
		$	63,949		$	43,263		$	7,748		$	9,448		$	23,864	$	1,093	$	15,709	$	165,074
		Private Equity									Credit
					Permanent			Hedge			Hedge					Logan
		Funds			Capital Vehicles			Funds			Funds			PE Funds		Circle		Other		Total
	December 31, 2013
	Management fees and incentive income (A)	$	40,456		$	21,701		$	89,400		$	144,749		$	18,143	$	689	$	—	$	315,138
	Expense reimbursements (A)	2,599			4,905			6,437			7,118			14,656		64		—		35,779
	Expense reimbursements - FCF (B)	42,872			100			—			—			—		—		—		42,972
	Dividends and distributions	—			405			—			—			—		—		—		405
	Other	—			698			—			—			4		—		12,128		12,830
		$	85,927		$	27,809		$	95,837		$	151,867		$	32,803	$	753	$	12,128	$	407,124
	(A)	Net of allowances for uncollectible management fees and expense reimbursements of $12.2 million and $6.5 million as of September 30, 2014, respectively, and of $12.2 million and $6.3 million as of December 31, 2013, respectively. Allowances are recorded as General and Administrative expenses. As of September 30, 2014, excludes $2.0 million of management fees due from New Media which are eliminated in consolidation.
	(B)	Represents expense reimbursements due to FCF, a consolidated VIE.
Schedule of components of due to affiliates	'
	Due to affiliates was comprised of the following:
		30-Sep-14			31-Dec-13
	Principals - tax receivable agreement - Note 6	$	284,265		$	241,006
	Principals - Principal Performance Payments - Note 8	20,016			45,524
	Distributions payable on Fortress Operating Group units	—			5,160
	Other	8,437			11,345
	General partner liability - Note 10	43,471			41,797
		$	356,189		$	344,832
Amounts related to equity interests, which are held by the Principals, employees, and others	'
	This balance sheet caption was comprised of the following:
		30-Sep-14			31-Dec-13
	Fortress Operating Group units held by the Principals and one senior employee	$	519,780		$	725,424
	Employee interests in majority owned and controlled fund advisor and general partner entities	65,277			62,381
	Other	2,258			2,033
	Total	$	587,315		$	789,838
Portion of interest of Fortress Operating Group	'
	The Fortress Operating Group portion of these interests is computed as follows:
		30-Sep-14			31-Dec-13
	Fortress Operating Group equity (Note 13)	$	1,602,695		$	1,489,701
	Less: Others' interests in equity of consolidated subsidiaries (Note 13)	(67,535		)	(64,414		)
	Non-controlling interests in equity of Investment Company -	(58,426		)	—
	consolidated VIEs
	Non-controlling interests in equity of Non-Investment	(479,516		)	—
	Manager - consolidated VIE
	Total Fortress shareholders' equity in Fortress Operating Group	$	997,218		$	1,425,287
	Fortress Operating Group units outstanding (A)	226,331,513			249,534,372
	Class A shares outstanding	208,004,183			240,741,920
	Total	434,335,696			490,276,292
	Fortress Operating Group as a percent of total (B)	52.1		%	50.9		%
	Equity of Fortress Operating Group units held by Principals and one senior	$	519,780		$	725,424
	employee
	(A)	Held by the Principals and one senior employee; exclusive of Class A shares.
	(B)	As a result, the Registrant owned 47.9% and 49.1% of Fortress Operating Group as of September 30, 2014 and December 31, 2013, respectively.
Statement of operations caption comprising of shares of consolidated net income (loss)	'
	This statement of operations caption was comprised of shares of consolidated net income (loss) related to the following:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Fortress Operating Group units held by the Principals and	$	9,581		$	57,221		$	55,143		$	104,653
	one senior employee
	Employee interests in majority owned and controlled fund advisor and general partner entities	1,063			1,647			3,578			6,756
	Other	198			(64		)	225			12
	Total	$	10,842		$	58,804		$	58,946		$	111,421
Schedule of interest computation of an entity	'
	The Fortress Operating Group portion of these interests is computed as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Fortress Operating Group net income (loss) (Note 13)	$	14,314		$	113,449		$	96,966		$	208,076
	Adjust:
	Others' interests in net (income) loss of consolidated subsidiaries (Note 13)	(1,261		)	(1,583		)	(3,803		)	(6,768		)
	Redeemable Non-controlling interests in (income) loss of Investment	2,042			—			1,885			—
	Company - consolidated VIE
	Non-controlling interests in (income) loss of Investment Company -	9			—			9			—
	consolidated VIEs
	Non-controlling interests in (income) loss of Non-Investment	3,014			—			10,305			—
	Manager - consolidated VIE
	Total Fortress shareholders' net income (loss) in Fortress Operating Group	$	18,118		$	111,866		$	105,362		$	201,308
	Fortress Operating Group as a percent of total (A)	52.9		%	51.2		%	52.3		%	52		%
	Fortress Operating Group net income (loss) attributable to the Principals and one senior employee	$	9,581		$	57,221		$	55,143		$	104,653
	(A)	Represents the weighted average percentage of total Fortress shareholders' net income (loss) in Fortress Operating Group attributable to the Principals and one senior employee.
Statement showing effects of changes in the entity's ownership interest in Fortress Operating Group on the entity's equity	'
	The purpose of this schedule is to disclose the effects of changes in Fortress’s ownership interest in Fortress Operating Group on Fortress’s equity:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Net Income (loss) attributable to Class A shareholders	$	4,438		$	42,381		$	38,594		$	54,634
	Transfers (to) from the Principals' and Others' Interests:
	Increase in Fortress’s shareholders’ equity for the conversion of Fortress Operating Group units by the Principals and one senior employee	—			—			—			10,143
	Increase in Fortress’s shareholders’ equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs	273			3,062			5,049			12,550
	Increase in Fortress's shareholders' equity for the public offering of	—			—			53,510			—
	Class A shares and repurchase of Class B shares and FOGUs
	Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs	—			—			(101,156		)	—
	Change from net income (loss) attributable to Fortress and transfers (to) from Principals’ and Others' Interests	$	4,711		$	45,443		$	(4,003	)	$	77,327

EQUITYBASED_AND_OTHER_COMPENSA1

EQUITY-BASED AND OTHER COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of total compensation and benefits expense, excluding Principals Agreement Compensation, but including Principal Performance Payments	'
	Fortress’s total compensation and benefits expense, including Principal Performance Payments, is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Equity-based compensation, per below	$	11,251			$	8,671			$	29,584			$	28,648
	Profit-sharing expense, per below	53,383				29,540				159,131				194,091
	Discretionary bonuses	60,341				52,033				173,062				155,121
	Other payroll, taxes and benefits	62,274				56,213				182,105				161,731
		$	187,249			$	146,457			$	543,882			$	539,591
Schedule of equity-based compensation activities	'
	The following tables set forth information regarding equity-based compensation activities.
		RSUs														Restricted Shares
		Employees							Non-Employees							Issued to Directors
		Number			Value (A)				Number			Value (A)				Number	Value (A)
	Outstanding at December 31, 2013	19,228,466			$	4.14			14,500			$	3.12			955,744	$	5.41
	Issued	8,340,227			7.19				237,498			7.18				89,390	7.38
	Transfers	(141,423	)		5.25				141,423			5.46				—	—
	Converted to Class A shares	(4,530,852	)		3.87				(7,437	)		3.28				—	—
	Forfeited	(1,468,490	)		3.89				—			—				—	—
	Outstanding at September 30, 2014 (B)	21,427,928			$	5.39			385,984			$	6.47			1,045,134	$	5.58
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Expense incurred (B)
	Employee RSUs	$	6,082			$	5,069			$	17,446			$	18,357
	Non-Employee RSUs	563				—				572				1
	Principal Performance Payments (C)	4,109				3,602				11,069				10,290
	Granted Class A Shares (D)	497				—				497				—
	Restricted Shares (E)	—				—				—				—
	Total equity-based compensation expense	$	11,251			$	8,671			$	29,584			$	28,648
	(A)	Represents the weighted average grant date estimated fair value per share or unit.
	(B)	In future periods, Fortress will further recognize compensation expense on its non-vested equity based awards outstanding as of September 30, 2014 of $62.7 million, with a weighted average recognition period of 2.3 years. This does not include contingent amounts.
	(C)	Accrued based on year-to-date performance; the actual number of RSUs granted are determined at year end. Based on year-to-date performance, a total of approximately 1.1 million RSUs would be awarded as Principal Performance Payments.
	(D)	Represents expense associated with vested Class A shares granted during the three months ended September 30, 2014.
	(E)	Certain restricted shares granted to directors are recorded in General and Administrative Expense ($0.3 million and $0.6 million for the nine months ended September 30, 2014 and 2013, respectively) and therefore are not included above.
Schedule of the expense accrual for the Principal Performance Payments by segment	'
	The expense for Principal Performance Payments was comprised of the following:
		Nine Months Ended September 30, 2014
		Equity-Based				Profit Sharing				Total
		Compensation				Expense
	Private equity business	$	—			$	2,958			$	2,958
	Liquid hedge fund business	2,756				1,250				4,006
	Credit business	8,313				13,631				21,944
	Total	$	11,069			$	17,839			$	28,908
Schedule of recognized profit sharing compensation expense	'
	Recognized profit sharing compensation expense (benefit) is summarized as follows:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Private equity funds	$	—			$	—			$	303			$	2,135
	Permanent capital vehicles (A)	(1,751		)		(459		)		7,334				7,757
	Liquid hedge funds	10,256				(3,578		)		18,663				35,458
	Credit hedge funds	13,675				20,371				49,008				71,074
	Credit PE funds	26,419				9,480				65,984				53,570
	Principal Performance Payments (B)	4,784				3,726				17,839				24,097
	Total	$	53,383			$	29,540			$	159,131			$	194,091
	(A)	Includes the mark-to market impact on the tandem options related to the publicly traded permanent capital vehicles.
	(B)	Relates to all applicable segments. Accrued based on year-to-date performance; the actual payments due to each Principal are determined at year end.

EARNINGS_PER_SHARE_AND_DISTRIB1

EARNINGS PER SHARE AND DISTRIBUTIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of computations of basic and diluted net income (loss) per Class A share	'
	The computations of basic and diluted net income (loss) per Class A share are set forth below:
		Three Months Ended September 30, 2014							Nine Months Ended September 30, 2014
		Basic				Diluted			Basic			Diluted
	Weighted average shares outstanding
	Class A shares outstanding	206,881,050				206,881,050			208,079,111			208,079,111
	Fully vested restricted Class A share units with dividend equivalent rights	88,508				88,508			1,789,026			1,789,026
	Fully vested restricted Class A shares	1,045,134				1,045,134			1,006,503			1,006,503
	Fortress Operating Group units exchangeable into	—				—			—			232,790,917
	Class A shares (1)
	Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2)	—				4,810,232			—			4,146,536
	Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3)	—				7,967,787			—			9,207,414
	Total weighted average shares outstanding	208,014,692				220,792,711			210,874,640			457,019,507
	Basic and diluted net income (loss) per Class A share
	Net income (loss) attributable to Class A shareholders	$	4,438			$	4,438		$	38,594		$	38,594
	Dilution in earnings due to fully vested restricted Class A share units with dividend equivalent rights treated as outstanding Fortress Operating Group units (4)	—				—			—			—
	Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2)	(686		)		(686		)	(1,100		)	(1,100		)
	Add back Principals' and others' interests in income of Fortress Operating Group, net of assumed income taxes at enacted rates, attributable to Fortress Operating Group units (1)	—				—			—			38,712
	Net income (loss) available to Class A shareholders	$	3,752			$	3,752		$	37,494		$	76,206
	Weighted average shares outstanding	208,014,692				220,792,711			210,874,640			457,019,507
	Basic and diluted net income (loss) per Class A share	$	0.02			$	0.02		$	0.18		$	0.17
		Three Months Ended September 30, 2013							Nine Months Ended September 30, 2013
		Basic				Diluted			Basic			Diluted
	Weighted average shares outstanding
	Class A shares outstanding	237,470,346				237,470,346			231,019,933			231,019,933
	Fully vested restricted Class A share units with dividend equivalent rights	982,225				982,225			2,821,011			2,821,011
	Fully vested restricted Class A shares	952,016				952,016			909,641			909,641
	Fortress Operating Group units and fully vested RPUs exchangeable into	—				249,534,372			—			252,789,561
	Class A shares (1)
	Class A restricted shares and Class A restricted share units granted to	—				2,771,059			—			2,067,969
	employees and directors (eligible for dividend and dividend
	equivalent payments) (2)
	Class A restricted share units granted to employees (not eligible for	—				10,381,148			—			9,954,355
	dividend and dividend equivalent payments) (3)
	Total weighted average shares outstanding	239,404,587				502,091,166			234,750,585			499,562,470
	Basic and diluted net income (loss) per Class A share
	Net income (loss) attributable to Class A shareholders	$	42,381			$	42,381		$	54,634		$	54,634
	Dilution in earnings due to RPUs treated as a participating security of	—				—			—			—
	Fortress Operating Group and fully vested restricted Class A share
	units with dividend equivalent rights treated as outstanding Fortress
	Operating Group units (4)
	Dividend equivalents declared on, and undistributed earnings allocated	(777		)		(777		)	(590		)	(590		)
	to, non-vested restricted Class A shares and restricted Class A share
	units (2)
	Add back Principals' and others' interests in income of Fortress	—				18,906			—			52,551
	Operating Group, net of assumed income taxes at enacted rates,
	attributable to Fortress Operating Group units and fully vested RPUs
	exchangeable into Class A shares (1)
	Net income (loss) available to Class A shareholders	$	41,604			$	60,510		$	54,044		$	106,595
	Weighted average shares outstanding	239,404,587				502,091,166			234,750,585			499,562,470
	Basic and diluted net income (loss) per Class A share	$	0.17			$	0.12		$	0.23		$	0.21
	-1	The Fortress Operating Group units and fully vested RPUs not held by Fortress (that is, those held by the Principals and one senior employee) are exchangeable into Class A shares on a one-to-one basis (fully vested RPUs would first have to be exchanged for Fortress Operating Group units and Class B shares). These units and fully vested RPUs are not included in the computation of basic earnings per share. These units and fully vested RPUs enter into the computation of diluted net income (loss) per Class A share when the effect is dilutive using the if-converted method, which includes the income tax effects of nondiscretionary adjustments to the net income (loss) attributable to Class A shareholders from assumed conversion of these units and fully vested RPUs. To the extent charges, particularly tax related charges, are incurred by the Registrant (i.e. not at the Fortress Operating Group level), the effect may be anti-dilutive. The final vesting of the RPUs occurred on January 1, 2013.
	-2	Restricted Class A shares granted to directors and certain restricted Class A share units granted to employees are eligible to receive dividend or dividend equivalent payments when dividends are declared and paid on Fortress’s Class A shares and therefore participate fully in the results of Fortress’s operations from the date they are granted. They are included in the computation of both basic and diluted earnings per Class A share using the two-class method for participating securities, except during periods of net losses.
	-3	Certain restricted Class A share units granted to employees are not entitled to dividend or dividend equivalent payments until they are vested and are therefore non-participating securities. These units are not included in the computation of basic earnings per share. They are included in the computation of diluted earnings per share when the effect is dilutive using the treasury stock method. The effect of the units on the calculation is generally anti-dilutive during periods of net losses. The weighted average restricted Class A share units which are not entitled to receive dividend or dividend equivalent payments outstanding were:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Share Units	13,592,852			14,766,136			13,167,782		15,761,068
	(4)	Fortress Operating Group RPUs are eligible to receive partnership distribution equivalent payments when distributions are declared and paid on Fortress Operating Group units. The RPUs represent a participating security of Fortress Operating Group and the resulting dilution in Fortress Operating Group earnings available to Fortress is reflected in the computation of both basic and diluted earnings per Class A share using the method prescribed for securities issued by a subsidiary. For purposes of the computation of basic and diluted earnings per Class A share, the fully vested restricted Class A share units with dividend equivalent rights are treated as outstanding Class A shares of Fortress and as outstanding partnership units of Fortress Operating Group.
Schedule of weighted average restricted Class A share units which are not entitled to receive dividend or dividend equivalent payments outstanding	'
	The weighted average restricted Class A share units which are not entitled to receive dividend or dividend equivalent payments outstanding were:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Share Units	13,592,852			14,766,136			13,167,782		15,761,068
Schedule of Fortress's dividend paying shares and units	'
	Fortress’s dividend paying shares and units were as follows:
		Weighted Average						Weighted Average
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014		2013
	Class A shares (public shareholders)	206,881,050			237,470,346			208,079,111		231,019,933
	Restricted Class A shares (directors)	1,045,134			952,016			1,006,503		909,641
	Restricted Class A share units (employees) (A)	88,508			982,225			1,789,026		2,821,011
	Restricted Class A share units (employees) (B)	7,513,984			5,744,629			7,016,497		4,759,829
	Fortress Operating Group units (Principals and one senior employee)	226,331,513			249,534,372			232,790,917		249,534,372
	Fortress Operating Group RPUs (one senior employee)	—			—			—		3,255,189
	Total	441,860,189			494,683,588			450,682,054		492,299,975
		As of September 30, 2014			As of December 31, 2013
	Class A shares (public shareholders)	206,959,049			239,786,176
	Restricted Class A shares (directors)	1,045,134			955,744
	Restricted Class A share units (employees) (A)	103,684			6,704
	Restricted Class A share units (employees) (B)	7,513,984			5,232,536
	Fortress Operating Group units (Principals and one senior employee)	226,331,513			249,534,372
	Total	441,953,364			495,515,532
	(A)	Represents fully vested restricted Class A share units which are entitled to dividend equivalent payments.
	(B)	Represents unvested restricted Class A share units which are entitled to dividend equivalent payments.
Schedule of Fortress's dividends and distributions	'
	Dividends and distributions during the nine months ended September 30, 2014 are summarized as follows:
						Declared in Current Year
		Declared in Prior Year, Paid in Current Year				Declared and Paid			Declared but not yet Paid			Total
	Dividends on Class A Shares	$	—			$	85,181		$	—		$	85,181
	Dividend equivalents on restricted Class A share
	units (A)	—				3,436			—			3,436
	Distributions to Fortress Operating Group unit holders
	(Principals and one senior employee) (B)	5,160				92,516			—			92,516
	Total distributions	$	5,160			$	181,133		$	—		$	181,133
	(A)	A portion of these dividend equivalents, if any, related to RSUs expected to be forfeited, is included as compensation expense in the consolidated statement of operations and is therefore considered an operating cash flow.
	(B)	Fortress Operating Group made tax-related distributions to the FOG unit holders (the Principals and one senior employee).

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of minimum future rental payments (excluding expense escalations) under operating leases	'
	Minimum future rental payments (excluding expense escalations) under these leases are as follows:
	October 1, 2014 to December 31, 2014	$	6,543
	2015	25,836
	2016	23,404
	2017	3,432
	2018	937
	2019	371
	Thereafter	—
	Total	$	60,523
	Non-Investment Manager
	Minimum future rental payments (excluding expense escalations) related to New Media’s non-cancelable operating lease commitments are as follows:
	October 1, 2014 to December 31, 2014	$	1,726
	2015	6,103
	2016	4,228
	2017	4,116
	2018	3,199
	2019	1,253
	Thereafter	3,376
	Total minimum lease payments	$	24,001

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Clawback Reserve on Incentive Income for DE Purposes	'
	Fortress had recognized incentive income for DE purposes from certain private equity funds, credit PE funds and the private permanent capital vehicle, which are subject to contingent clawback, as of September 30, 2014:
	Fund (A)		Net Intrinsic Clawback (B)			Periods in Intrinsic Clawback		Prior Year End Inception-to-Date Net DE Reserve				Current				Current				Inception-to-Date Net DE Reserve				Notes
												Year-to-Date Gross DE Reserve (Reversal)				Year-to-Date Net DE Reserve (Reversal)
	Fund II		$	—		N/A		$	1,334			$	(1,999	)		$	(1,334	)		$	—			(C)
	Fund III		45,108			27 Quarters		45,108				—				—				45,108				(D)
	FRID		—			N/A		10,041				(16,447		)		(10,041		)		—				(E)
	Total		$	45,108				$	56,483			$	(18,446	)		$	(11,375	)		$	45,108
	(A)	Fortress has recognized incentive income for DE purposes from the following funds, which do not have intrinsic clawback and for which Fortress's CODM has determined no clawback reserve is necessary: WWTAI, Credit Opportunities Fund, Credit Opportunities Fund II, Credit Opportunities Fund III, certain FCO Managed Accounts, Real Estate Opportunities Fund, Real Estate Opportunities REOC Fund, Net Lease Fund I, Japan Opportunity Fund and Global Opportunities Fund.
	(B)	See Note 3.
	(C)	The previously recorded reserves with respect to this fund exceeded its net intrinsic clawback by approximately $1.3 million immediately prior to March 31, 2014. Based on the criteria determined by the CODM, management determined that a net reversal of $1.3 million of clawback reserve was appropriate for the three months ended March 31, 2014. The fund is in process of liquidation and no clawback exists as of September 30, 2014.
	(D)	The potential clawback on this fund has been fully reserved in prior periods.
	(E)	During the second quarter of 2014, Fortress returned all prior net incentive income distributions received from the fund. The fund is in liquidation and no clawback exists as of September 30, 2014.
Summary of financial data on Fortress's segments	'
	September 30, 2014 and the Nine Months Then Ended
		Private Equity
					Permanent				Liquid				Credit
		Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
	Segment revenues
	Management fees	$	104,552		$	50,434			$	103,373			$	84,129			$	71,898			$	34,328			$	—			$	448,714
	Incentive income	2,854			40,676				2,627				102,977				120,261				178				—				269,573
	Segment revenues - total	$	107,406		$	91,110			$	106,000			$	187,106			$	192,159			$	34,506			$	—			$	718,287
	Fund management distributable	$	69,286		$	27,232			$	19,841			$	87,095			$	49,217			$	(5,192	)		$	—			$	247,479
	earnings (loss) before Principal
	Performance Payments (B)
	Fund management distributable	$	69,286		$	24,274			$	18,591			$	74,854			$	47,827			$	(5,192	)		$	—			$	229,640
	earnings (loss)
	Pre-tax distributable earnings (loss)	$	163,851		$	25,901			$	12,191			$	72,626			$	54,021			$	(4,476	)		$	(1,497	)		$	322,617
	Total segment assets	$	788,798		$	147,344			$	222,841			$	121,747			$	260,029			$	60,561			$	784,222		(A)	$	2,385,542
	(A)	Unallocated assets includes cash of $322.4 million and net deferred tax assets of $385.3 million.
	Three Months Ended September 30, 2014
		Private Equity
					Permanent				Liquid				Credit
		Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
	Segment revenues
	Management fees	$	33,638		$	17,934			$	33,733			$	28,796			$	23,571			$	12,280			$	—			$	149,952
	Incentive income	—			15,936				1,339				28,846				41,489				178				—				87,788
	Segment revenues - total	$	33,638		$	33,870			$	35,072			$	57,642			$	65,060			$	12,458			$	—			$	237,740
	Fund management distributable	$	18,677		$	6,708			$	4,334			$	26,872			$	16,410			$	(1,660	)		$	—			$	71,341
	earnings (loss) before Principal
	Performance Payments (B)
	Fund management distributable	$	18,677		$	6,534			$	4,051			$	22,862			$	16,094			$	(1,660	)		$	—			$	66,558
	earnings (loss)
	Pre-tax distributable earnings (loss)	$	18,701		$	7,133			$	(5,006	)		$	17,968			$	18,044			$	(1,804	)		$	(714	)		$	54,322
	(B)	See Note 8. Fund management distributable earnings (loss) is only reduced for the profit sharing component of the Principal Performance Payments.
	Nine Months Ended September 30, 2013
		Private Equity
					Permanent				Liquid				Credit
		Funds			Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
	Segment revenues
	Management fees	$	99,566		$	45,996			$	79,380			$	75,435			$	71,218			$	25,859			$	—			$	397,454
	Incentive income	9,181			7,299				97,324				140,840				102,148				—				—				356,792
	Segment revenues - total	$	108,747		$	53,295			$	176,704			$	216,275			$	173,366			$	25,859			$	—			$	754,246
	Fund management distributable	$	72,883		$	20,801			$	86,543			$	100,678			$	44,861			$	(7,605	)		$	—			$	318,161
	earnings (loss) before Principal
	Performance Payments (B)
	Fund management distributable	$	72,883		$	19,912			$	77,890			$	86,845			$	44,139			$	(7,605	)		$	—			$	294,064
	earnings (loss)
	Pre-tax distributable earnings (loss)	$	80,095		$	20,828			$	80,665			$	91,715			$	50,391			$	(6,043	)		$	(4,479	)		$	313,172
	Three Months Ended September 30, 2013
		Private Equity							Liquid				Credit
		Funds			Permanent Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Unallocated				Fortress Subtotal
	Segment revenues
	Management fees	$	33,810		$	14,215			$	30,634			$	25,481			$	23,669			$	8,833			$	—			$	136,642
	Incentive income	1,544			6,099				(27,387		)		44,194				17,789				—				—				42,239
	Segment revenues - total	$	35,354		$	20,314			$	3,247			$	69,675			$	41,458			$	8,833			$	—			$	178,881
	Fund management distributable	$	24,095		$	7,996			$	(11,923	)		$	32,844			$	7,442			$	(3,320	)		$	—			$	57,134
	earnings (loss) before Principal
	Performance Payments (B)
	Fund management distributable	$	24,095		$	7,107			$	(10,730	)		$	28,940			$	7,318			$	(3,320	)		$	—			$	53,410
	earnings (loss)
	Pre-tax distributable earnings (loss)	$	30,717		$	7,403			$	(9,769	)		$	30,567			$	8,436			$	(1,758	)		$	(558	)		$	65,038
Schedule of reconciliation of net income (loss)	'
	Reconciling items between segment measures and GAAP measures:
		Three Months Ended September 30,							Nine Months Ended September 30,
		2014			2013				2014				2013
	Fund management distributable earnings	$	66,558		$	53,410			$	229,640			$	294,064
	Investment income (loss)	(11,405		)	12,412				95,347				23,870
	Interest expense	(831		)	(784		)		(2,370		)		(4,762		)
	Pre-tax distributable earnings	54,322			65,038				322,617				313,172
	Adjust incentive income
	Incentive income received from private equity funds, the private permanent capital vehicle and credit PE funds, subject to contingent repayment	(41,706		)	(17,790		)		(121,333		)		(107,963		)
	Incentive income received from third parties, subject to	(565		)	—				(652		)		—
	contingent repayment
	Incentive income accrued from private equity funds, the private permanent capital vehicle and credit PE funds, not subject to contingent repayment	13,416			15,883				66,778				50,262
	Incentive income from hedge funds and Logan Circle, subject to annual performance achievement	(20,817		)	5,973				(77,095		)		(185,858		)
	Incentive income received from the sale of shares related to options	(6,833		)	(1,921		)		(8,318		)		(1,921		)
	Reserve for clawback, gross (see discussion above)	—			(1,544		)		(1,999		)		(3,367		)
		(56,505		)	601				(142,619		)		(248,847		)
	Adjust other income
	Distributions of earnings from equity method investees**	(5,540		)	(3,685		)		(61,890		)		(12,529		)
	Earnings (losses) from equity method investees**	37,635			57,532				74,850				116,748
	Equity method (earnings) losses earned by Fortress in the Investment Company	3,200			—				2,974				—
	Gains (losses) on options in equity method investees	(23,127		)	3,488				(28,999		)		27,233
	Gains (losses) on other investments	15,585			(3,178		)		(31,046		)		9,358
	Impairment of investments (see discussion above)	2,635			380				2,695				1,107
	Adjust income from the receipt of options	1,743			—				3,346				36,470
		32,131			54,537				(38,070		)		178,387
	Adjust employee, Principal and director compensation
	Adjust employee, Principal and director equity-based compensation expense	(1,307		)	(6,415		)		(22,438		)		(34,769		)
	(including publicly traded permanent capital vehicle options assigned)
	Adjust employee portion of incentive income from private equity funds, the private permanent capital vehicle and credit PE funds, accrued prior to the realization of incentive income	(4,945		)	555				(1,771		)		1,210
		(6,252		)	(5,860		)		(24,209		)		(33,559		)
	Adjust amortization of intangible assets and impairment of goodwill and intangible	(12		)	(12		)		(34		)		(34		)
	assets
	Adjust non-controlling interests related to Fortress Operating Group units	(9,581		)	(57,221		)		(55,143		)		(104,653		)
	Adjust tax receivable agreement liability	(4,036		)	—				(4,036		)		(7,739		)
	Adjust income taxes - Investment Manager	(2,972		)	(14,702		)		(16,919		)		(42,093		)
	Adjust consolidated Non-Investment Manager income (loss) allocable to Class A	543			—				(19		)		—
	Shareholders
	Adjust consolidated Investment Company income (loss) allocable to	(3,200		)	—				(2,974		)		—
	Class A Shareholders
	Total adjustments	(49,884		)	(22,657		)		(284,023		)		(258,538		)
	Net Income (Loss) Attributable to Class A Shareholders	4,438			42,381				38,594				54,634
	Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries	10,842			58,804				58,946				111,421
	Redeemable non-controlling interests in Income (Loss) of Consolidated Investment	(2,042		)	—				(1,885		)		—
	Company
	Non-controlling interest in Income (Loss) of Consolidated Investment Company	(9		)	—				(9		)		—
	Non-controlling interests in Income (Loss) of Consolidated Non-Investment	(3,014		)	—				(10,305		)		—
	Manager
	Net Income (Loss) (GAAP)	$	10,215		$	101,185			$	85,341			$	166,055
	** This adjustment relates to all of the private equity, permanent capital vehicle and credit PE Fortress Funds and hedge fund special investment accounts in which Fortress has an investment.
Schedule of reconciliation of assets	'
		September 30, 2014
	Total Segment Assets	$	2,385,542
	Adjust equity investments from segment carrying amount	(38,699		)
	Adjust investments gross of employees' and others' portion	34,460
	Adjust intangible assets to cost	(22,790		)
	Accrued incentive income subject to annual performance achievement	(77,095		)
	Less: Fortress's investment in and receivables from Non-Investment Manager - consolidated VIE	(6,474		)
	Less: Fortress's investment in and receivables from Investment Company - consolidated VIEs	(47,582		)
	Add: Total assets of consolidated Non-Investment Manager	822,977
	Add: Total assets of consolidated Investment Company	192,206
	Total assets (GAAP)	$	3,242,545
Schedule of reconciliation of revenues	'
		Three Months Ended September 30,							Nine Months Ended September 30,
		2014			2013				2014				2013
	Segment revenues	$	237,740		$	178,881			$	718,287			$	754,246
	Adjust management fees	252			313				979				565
	Adjust management fees for Non-Investment Manager -	(1,498		)	—				(3,727		)		—
	consolidated VIE
	Adjust management fees for Investment Company	—			—				—				—
	- consolidated VIEs
	Adjust incentive income	(56,505		)	601				(142,909		)		(248,847		)
	Adjust income from the receipt of options	1,743			—				3,346				36,470
	Adjust other revenues (including expense	56,771			52,224				167,704				157,014
	reimbursements)*
	Add: Total revenues - consolidated Non-Investment	165,061			—				397,315				—
	Manager
	Add: Total revenues - consolidated Investment Company	196			—				244				—
	Total revenues (GAAP)	$	403,760		$	232,019			$	1,141,239			$	699,448
	* Segment revenues do not include GAAP other revenues, except to the extent they represent management fees or incentive income; such revenues are included elsewhere in the calculation of distributable earnings
Schedule of Fortress's depreciation and amortization expense by segment	'
	Fortress’s depreciation and amortization expense by segment prior to the allocation of corporate and intra-segment depreciation and amortization expense to the business segments was as follows. Amortization expense, related to intangible assets, is not a component of distributable earnings.
			Private Equity							Liquid				Credit
	Three Months Ended September 30,		Funds			Permanent Capital Vehicles				Hedge Funds				Hedge Funds				PE Funds				Logan Circle				Corporate				Total
	2014
	Depreciation		$	396		$	208			$	2,027			$	1,280			$	304			$	83			$	687			$	4,985
	Amortization		—			—				—				—				—				12				—				12
	Total		$	396		$	208			$	2,027			$	1,280			$	304			$	95			$	687			$	4,997
	2013
	Depreciation		$	393		$	159			$	582			$	1,416			$	89			$	68			$	782			$	3,489
	Amortization		—			—				—				—				—				12				—				12
	Total		$	393		$	159			$	582			$	1,416			$	89			$	80			$	782			$	3,501
	Nine Months Ended September 30,
	2014
	Depreciation		$	1,176		$	604			$	5,254			$	4,058			$	779			$	252			$	2,178			$	14,301
	Amortization		—			—				—				—				—				34				—				34
	Total		$	1,176		$	604			$	5,254			$	4,058			$	779			$	286			$	2,178			$	14,335
	2013
	Depreciation		$	1,132		$	432			$	1,561			$	4,173			$	238			$	192			$	2,332			$	10,060
	Amortization		—			—				—				—				—				34				—				34
	Total		$	1,132		$	432			$	1,561			$	4,173			$	238			$	226			$	2,332			$	10,094

CONSOLIDATING_FINANCIAL_INFORM1

CONSOLIDATING FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2014
Consolidating Financial Information	'
Schedule of consolidating balance sheet information	'
	The consolidating balance sheet information is as follows:
		As of September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
	Assets
	Investment Manager
	Cash and cash equivalents	$	330,980			$	678			$	—		$	—			$	500			$	—		$	332,158
	Due from affiliates	167,338				2,498				—			(4,762		)		—				—			165,074
	Investments	1,148,279				2,175				—			(50,499		)		477,438				(477,438		)	1,099,955
	Investments in options	73,458				—				—			(3,207		)		—				—			70,251
	Deferred tax asset, net	—				—				—			—				385,301				—			385,301
	Other assets	162,127				2,200				—			—				10,296				—			174,623
	Investment Company - consolidated VIEs
	Cash and cash equivalents	—				—				16,604			—				—				—			16,604
	Receivables from brokers and	—				—				40,825			—				—				—			40,825
	counterparties
	Investments, at fair value	—				—				133,857			—				—				—			133,857
	Other assets	—				—				920			—				—				—			920
		1,882,182				7,551				192,206			(58,468		)		873,535				(477,438		)	2,419,568
	Non-Investment Manager -
	consolidated VIE
	Cash and cash equivalents	—				—				135,063			—				—				—			135,063
	Fixed assets, net	—				—				290,481			—				—				—			290,481
	Goodwill	—				—				125,407			—				—				—			125,407
	Intangible assets, net	—				—				155,133			—				—				—			155,133
	Other assets, net	—				—				116,893			—				—				—			116,893
		—				—				822,977			—				—				—			822,977
	Total Assets	$	1,882,182			$	7,551			$	1,015,183		$	(58,468	)		$	873,535			$	(477,438	)	$	3,242,545
	Continued on next page.
		As of September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
	Liabilities and Equity
	Investment Manager
	Accrued compensation and benefits	$	266,221			$	2,839			$	—		$	—			$	—			$	—		$	269,060
	Due to affiliates	71,924				2,273				—			(2,273		)		284,265				—			356,189
	Deferred incentive income	283,684				—				—			—				—				—			283,684
	Debt obligations payable	75,000				—				—			—				—				—			75,000
	Other liabilities	117,215				92				—			—				(1,194		)		—			116,113
	Investment Company - consolidated VIEs
	Due to brokers and counterparties	—				—				12,577			—				—				—			12,577
	Securities sold not yet purchased,	—				—				37,258			—				—				—			37,258
	at fair value
	Other liabilities	—				—				1,980			(503		)		—				—			1,477
		814,044				5,204				51,815			(2,776		)		283,071				—			1,151,358
	Non-Investment Manager -
	consolidated VIE
	Deferred revenue	—				—				36,125			—				—				—			36,125
	Debt obligations payable	—				—				232,275			—				—				—			232,275
	Accrued expenses and other	—				—				74,165			(1,986		)		—				—			72,179
	liabilities
		—				—				342,565			(1,986		)		—				—			340,579
	Total Liabilities	814,044				5,204				394,380			(4,762		)		283,071				—			1,491,937
	Commitments and Contingencies
	Redeemable Non-controlling Interests,	—				—				—			34,887				—				—			34,887
	Investment Company - consolidated
	VIE
	Equity
	Paid-in capital	5,741,427				5,597				635,997			(638,194		)		2,004,828				(5,744,827		)	2,004,828
	Retained earnings (accumulated	(4,734,622		)		(3,250		)		(15,194		)	11,659				(1,412,494		)		4,741,407			(1,412,494		)
	deficit)
	Accumulated other comprehensive	(6,202		)		—				—			—				(1,870		)		6,202			(1,870		)
	income (loss)
	Total Fortress shareholders' equity	1,000,603				2,347				620,803			(626,535		)		590,464				(997,218		)	590,464
	(D)
Principals' and others' interests in	67,535				—				—			—				—				519,780			587,315
equity of consolidated
subsidiaries
Non-controlling interests in equity of	—				—				—			58,426				—				—			58,426
Investment Company - consolidated
VIEs
Non-controlling interests in equity	—				—				—			479,516				—				—			479,516
of Non-Investment Manager -
consolidated VIE
Total Equity	1,068,138				2,347				620,803			(88,593		)		590,464				(477,438		)	1,715,721
Total Liabilities, Redeemable	$	1,882,182			$	7,551			$	1,015,183		$	(58,468	)		$	873,535			$	(477,438	)	$	3,242,545
Non-controlling Interests and
Equity
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.
(D)	Includes the Principals’ (and one senior employee's) equity in the Fortress Operating Group column, which is eliminated in consolidation.
Schedule of consolidating statement of operations information	'
	The consolidating statement of operations information is as follows:
		Nine Months Ended September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment Group LLC Consolidated (C)				Elimination Adjustments			Fortress Investment Group LLC Consolidated
	Revenues
	Investment Manager
	Management fees: affiliates	$	400,189			$	3,701			$	—		$	(6,690	)		$	—			$	—		$	397,200
	Management fees: non-affiliates	51,855				257				—			—				—				—			52,112
	Incentive income: affiliates	125,634				—				—			—				—				—			125,634
	Incentive income: non-affiliates	1,030				—				—			—				—				—			1,030
	Expense reimbursements:	130,459				22,989				—			—				—				—			153,448
	affiliates
	Expense reimbursements:	7,877				2,054				—			—				—				—			9,931
	non-affiliates
	Other revenues (affiliate portion	4,345				—				—			(20		)		—				—			4,325
	disclosed in Note 7)
	Investment Company - consolidated VIEs
	Interest and divided income	—				—				244			—				—				—			244
		721,389				29,001				244			(6,710		)		—				—			743,924
	Non-Investment Manager -
	consolidated VIE
	Advertising	—				—				236,434			—				—				—			236,434
	Circulation	—				—				118,049			—				—				—			118,049
	Commercial printing and other	—				—				42,832			—				—				—			42,832
		—				—				397,315			—				—				—			397,315
	Total Revenues	721,389				29,001				397,559			(6,710		)		—				—			1,141,239
	Expenses
	Investment Manager
	Compensation and benefits	515,821				28,061				—			—				—				—			543,882
	General, administrative and other	118,959				1,688				—			—				(1		)		—			120,646
	Depreciation and amortization	14,282				53				—			—				—				—			14,335
	Interest expense	2,377				23				—			(22		)		176				—			2,554
	Investment Company - consolidated VIEs
	Other	—				—				685			—				—				—			685
		651,439				29,825				685			(22		)		175				—			682,102
	Non-Investment Manager -
	consolidated VIE
	Operating Costs	—				—				225,249			—				—				—			225,249
	General, administrative and other	—				—				134,627			(3,727		)		—				—			130,900
	Depreciation and amortization	—				—				26,201			—				—				—			26,201
	Interest expense	—				—				10,813			—				—				—			10,813
	Loss on extinguishment of debt	—				—				9,047			—				—				—			9,047
		—				—				405,937			(3,727		)		—				—			402,210
	Total Expenses	651,439				29,825				406,622			(3,749		)		175				—			1,084,312
	Continued on next page.
		Nine Months Ended September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																	Group LLC Consolidated (C)
	Other Income (Loss)
	Investment Manager
	Gains (losses) (affiliate portion	(25,681		)		—				—			(554		)		—				—			(26,235		)
	disclosed in Note 4)
	Tax receivable agreement liability	—				—				—			—				(4,036		)		—			(4,036		)
	adjustment
	Earnings (losses) from equity	78,776				—				—			2,974				50,219				(50,219		)	81,750
	method investees
	Investment Company - consolidated
	VIEs
	Gains (losses)	—				—				(4,427		)	—				—				—			(4,427		)
	Total Other Income (Loss)	53,095				—				(4,427		)	2,420				46,183				(50,219		)	47,052
	Income (Loss) Before Income	123,045				(824		)		(13,490		)	(541		)		46,008				(50,219		)	103,979
	Taxes
	Income tax benefit (expense) -	(9,530		)		10				—			—				(7,414		)		—			(16,934		)
	Investment Manager
Income tax benefit (expense) -	—				—				(1,704		)	—				—				—			(1,704		)
Non-Investment Manager -
consolidated VIE
Total Income Tax Benefit	(9,530		)		10				(1,704		)	—				(7,414		)		—			(18,638		)
(Expense)
Net Income (Loss)	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
Allocation of Net Income (Loss)
Principals' and Others' Interests in	3,803				—				—			—				—				55,143			58,946
Income (Loss) of Consolidated
Subsidiaries
Redeemable Non-controlling Interests	—				—				—			(1,885		)		—				—			(1,885		)
in Income (Loss) of Investment
Company - consolidated VIE
Non-controlling Interests in Income	—				—				—			(9		)		—				—			(9		)
(Loss) of Investment Manager -
consolidated VIEs
Non-controlling Interests in	—				—				—			(10,305		)		—				—			(10,305		)
Income (Loss) of Non-
Investment Manager -
consolidated VIE
Net Income (Loss) Attributable to	109,712				(814		)		(15,194		)	11,658				38,594				(105,362		)	38,594
Class A Shareholders (D)
	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.
(D)	Includes net income (loss) attributable to the Principals’ (and one senior employee’s) interests in the Fortress Operating Group column, which is eliminated in consolidation.
Schedule of consolidating statement of cash flows information	'
	The consolidating statement of cash flows information is as follows:
		Nine Months Ended September 30, 2014
		Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																	Group LLC Consolidated (C)
	Cash Flows From Operating Activities
	Net income (loss)	$	113,515			$	(814	)		$	(15,194	)	$	(541	)		$	38,594			$	(50,219	)	$	85,341
	Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
	Investment Manager
	Depreciation and amortization	14,282				53				—			—				—				—			14,335
	Other amortization and accretion	585				—				—			—				—				—			585
	(included in interest expense)
	(Earnings) losses from equity method	(78,776		)		—				—			(2,974		)		(50,219		)		50,219			(81,750		)
	investees
	Distributions of earnings from equity	78,337				—				—			—				—				—			78,337
	method investees
	(Gains) losses	25,681				—				—			554				—				—			26,235
	Deferred incentive income	(66,778		)		—				—			—				—				—			(66,778		)
	Deferred tax (benefit) expense	1,012				—				—			—				7,414				—			8,426
	Options received from affiliates	(6,310		)		—				—			2,964				—				—			(3,346		)
	Tax receivable agreement liability	—				—				—			—				4,036				—			4,036
	adjustment
	Equity-based compensation	29,584				—				—			—				—				—			29,584
	Options in affiliates granted to employees	759				—				—			—				—				—			759
	Other	(653		)		—				—			—				—				—			(653		)
	Investment Company - consolidated VIEs
	(Gains) losses	—				—				4,427			—				—				—			4,427
	Non-Investment Manager - consolidated
	VIE
	Depreciation and amortization	—				—				26,201			—				—				—			26,201
	Loss on extinguishment of debt	—				—				5,949			—				—				—			5,949
	Amortization of deferred financing costs	—				—				708			—				—				—			708
	(included in interest expense)
	Deferred tax (benefit) expense	—				—				1,704			—				—				—			1,704
	Other	—				—				462			—				—				—			462
	Cash flows due to changes in
	Investment Manager
	Due from affiliates	(14,610		)		(634		)		—			4,047				—				—			(11,197		)
	Other assets	36,179				(1,761		)		—			—				(2,111		)		—			32,307
	Accrued compensation and benefits	(81,959		)		554				—			—				—				—			(81,405		)
	Due to affiliates	(21,855		)		2,064				—			(2,064		)		170				—			(21,685		)
	Deferred incentive income	99,553				—				—			—				—				—			99,553
	Other liabilities	37,927				30				—			—				(1,520		)		—			36,437
	Investment Company - consolidated VIEs
	Purchases of investments and payments to	—				—				(458,794		)	—				—				—			(458,794		)
	cover securities sold not yet purchased
	Proceeds from sale of investments and	—				—				386,242			—				—				—			386,242
	securities sold not yet purchased
	Receivables from brokers and	—				—				(40,825		)	—				—				—			(40,825		)
	counterparties
	Other assets	—				—				(9,362		)	—				—				—			(9,362		)
	Due to brokers and counterparties	—				—				12,577			—				—				—			12,577
	Other liabilities	—				—				2,467			—				—				—			2,467
	Continued on next page.
		Nine Months Ended September 30, 2014
		Fortress Operating Group Combined (A)			FOE II (New) LP			Certain Consolidated Entities (B)			Fortress Operating Group Eliminations		Fortress Investment			Elimination Adjustments			Fortress Investment Group LLC Consolidated
													Group LLC Consolidated (C)
	Non-Investment Manager -
	consolidated VIE
	Other assets	—			—			239			—		—			—			239
	Deferred revenue	—			—			(439	)		—		—			—			(439	)
	Accrued expenses and other	—			—			970			(1,986	)	—			—			(1,016	)
	liabilities
	Net cash provided by (used in)	166,473			(508	)		(82,668	)		—		(3,636	)		—			79,661
operating activities
Cash Flows From Investing Activities
Investment Manager
Contributions to equity method	(71,540	)		—			—			50,053		(33,664	)		33,664			(21,487	)
investees
Distributions of capital from equity	368,373			—			—			—		85,660			(85,660	)		368,373
method investees
Purchase of securities	(14,936	)		—			—			—		—			—			(14,936	)
Proceeds from sale of equity	83,039			—			—			—		—			—			83,039
securities
Purchase of fixed assets	(7,631	)		—			—			—		—			—			(7,631	)
Purchase of software and	(25,976	)		—			—			—		—			—			(25,976	)
technology-related assets
Non-Investment Manager -
consolidated VIE
Existing cash on consolidation	—			—			23,845			—		—			—			23,845
date
Purchase of fixed assets	—			—			(2,550	)		—		—			—			(2,550	)
Acquisitions, net of cash acquired	—			—			(71,822	)		—		—			—			(71,822	)
Other	—			—			714			—		—			—			714
Net cash provided by (used in)	331,329			—			(49,813	)		50,053		51,996			(51,996	)		331,569
investing activities
Cash Flows From Financing Activities
Investment Manager
Repayments of debt obligations	(50,000	)		—			—			—		—			—			(50,000	)
Borrowings under debt obligations	125,000			—			—			—		—			—			125,000
Proceeds from public offering (Note 9)				—			—			—		186,551			—			186,551
Repurchase of Class B shares (Note 9)	—			—			—			—		(186,551	)		—			(186,551	)
Issuance (purchase) of Class A	(33,664	)		—			—			—		33,664			—			—
shares (RSU settlements)
Repurchase of Class A shares	(363,260	)		(150	)		—			—		—			—			(363,410	)
(Note 9)
Capital contributions	33,664			—			—			—		—			(33,664	)		—
(distributions)
Dividends and dividend equivalents	(89,096	)		—			—			—		(85,181	)		85,660			(88,617	)
paid
Principals' and others' interests in	600			—			—			—		—			—			600
equity of consolidated
subsidiaries - contributions
Principals' and others' interests in	(152,686	)		—			—			—		—			—			(152,686	)
equity of consolidated
subsidiaries - distributions
Excess tax benefits from	—			—			—			—		3,030			—			3,030
delivery of RSUs
Investment Company - consolidated VIEs
Redeemable non-controlling	—			—			66,256			(50,003	)	—			—			16,253
interests - contributions
Non-redeemable non-controlling	—			—			58,485			(50	)	—			—			58,435
interests in Investment
Company - contributions
Continued on next page.
	Nine Months Ended September 30, 2014
	Fortress Operating Group Combined (A)				FOE II (New) LP				Certain Consolidated Entities (B)			Fortress Operating Group Eliminations				Fortress Investment				Elimination Adjustments			Fortress Investment Group LLC Consolidated
																Group LLC Consolidated (C)
Non-Investment Manager -
consolidated VIE
Repayments of debt obligations	—				—				(185,989		)	—				—				—			(185,989		)
Borrowings under debt	—				—				239,840			—				—				—			239,840
obligations
Payment of debt issuance costs	—				—				(2,505		)	—				—				—			(2,505		)
Proceeds from public offering (net	—				—				116,130			—				—				—			116,130
of offering costs)
Dividends and dividend equivalents	—				—				(8,069		)	—				—				—			(8,069		)
paid
Net cash provided by (used in)	(529,442		)		(150		)		284,148			(50,053		)		(48,487		)		51,996			(291,988		)
financing activities
Net Increase (Decrease) in Cash	(31,640		)		(658		)		151,667			—				(127		)		—			119,242
and Cash Equivalents
Cash and Cash Equivalents,	362,620				1,336				—			—				627				—			364,583
Beginning of Period
Cash and Cash Equivalents,	$	330,980			$	678			$	151,667		$	—			$	500			$	—		$	483,825
End of Period
Cash and Cash Equivalents -	$	330,980			$	678			$	—		$	—			$	500			$	—		$	332,158
Investment Manager,
End of Period
Cash and Cash Equivalents -	$	—			$	—			$	16,604		$	—			$	—			$	—		$	16,604
Investment Company -
consolidated VIEs, End of Period
Cash and Cash Equivalents - Non-	$	—			$	—			$	135,063		$	—			$	—			$	—		$	135,063
Investment Manager -
consolidated VIE,
End of Period
(A)	Excluding FOE II (New) LP and certain consolidated entities.
(B)	Comprised of the Investment Company and Non-Investment Manager.
(C)	Other than Fortress Operating Group.

ORGANIZATION_AND_BASIS_OF_PRES2

ORGANIZATION AND BASIS OF PRESENTATION (Investment Manager) (Details)

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Jan. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Investment Manager

Investment Manager

Investment Manager

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Graticule Asset Management

Graticule Asset Management

Investment Vehicles

category

Computer Software and Technology Equipment

USD ($)

USD ($)

USD ($)

USD ($)

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

source

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

During 2014

After 2014

EUR (€)

Schedule of Equity Method Investments [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of primary sources of income from the Fortress Funds

3

'

'

'

'

'

'

'

'

'

'

'

'

'

Minority interest

47.90%

49.10%

'

'

'

'

'

'

'

'

'

42.50%

27.00%

'

Purchase price

'

'

$26,000,000

'

'

'

'

'

'

'

'

'

'

'

Fixed assets, useful life

'

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

Number of principal categories in a family of real assets funds focused on investing in tangible and intangible assets

4

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing amount

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000,000

Activity in Redeemable Portion of Non-controlling Interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance

'

'

'

'

'

'

'

'

'

0

'

'

'

'

Capital contributions

'

'

'

'

'

'

'

'

'

36,772,000

'

'

'

'

Redeemable Non-controlling Interests in income (loss) of Investment Company

'

'

'

-2,042,000

0

-1,885,000

0

-2,042,000

0

-1,885,000

0

'

'

'

Ending balance

'

'

'

'

'

'

'

$34,887,000

'

$34,887,000

'

'

'

'

ORGANIZATION_AND_BASIS_OF_PRES3

ORGANIZATION AND BASIS OF PRESENTATION (Non-Investment Manager) (Details) (Non-Investment Manager, USD $)	9 Months Ended	3 Months Ended		9 Months Ended		7 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014
		New Media	New Media	New Media	New Media	Four Regional Media Outlets
		person		person		New Media
		customer		customer		acquisition
		directory		directory
		website		website
		publication		publication
		state		state
		market		market
		mobile_site		mobile_site
Business Acquisition [Line Items]	'	'	'	'	'	'
Number of weeks in fiscal year	'364 days	'	'	'	'	'
Management fees, percent	'	1.50%	'	1.50%	'	'
Common stock, shares outstanding, owned by parent	'	0.20%	'	0.20%	'	'
Number of markets in which entity operates	'	372	'	372	'	'
Number of states in which entity operates	'	27	'	27	'	'
Number of community publications in which entity operates	'	450	'	450	'	'
Number of websites in which entity operates	'	372	'	372	'	'
Number of mobile sites in which entity operates	'	365	'	365	'	'
Number of yellow pages in which entity operates	'	6	'	6	'	'
Number of people per week reached by entity's media (over 12 million)	'	14,000,000	'	14,000,000	'	'
Number of business advertising accounts (over 130,000)	'	130,000	'	130,000	'	'
Number of regional media assets acquired	'	'	'	'	'	4
Purchase price	'	'	'	'	'	$72.20
Pro forma revenue	'	14.8	186.1	140.1	553.2	'
Pro forma net income (loss)	'	$0.20	($137.80)	($24.50)	($210.30)	'

ORGANIZATION_AND_BASIS_OF_PRES4

ORGANIZATION AND BASIS OF PRESENTATION (Purchase Price Allocation) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2013	Feb. 14, 2014
In Thousands, unless otherwise specified			Non-Investment Manager	Non-Investment Manager	Non-Investment Manager
					New Media
Business Acquisition [Line Items]	'	'	'	'	'
Cash and cash equivalents	'	'	'	'	$23,845
Fixed assets	'	'	'	'	266,385
Goodwill	'	'	125,407	0	118,847
Intangibles assets	'	'	'	'	144,664
Other assets	'	'	'	'	108,072
Total assets	'	'	'	'	661,813
Debt obligations payable	'	'	'	'	-177,955
Accrued expenses and other liabilities	'	'	'	'	-99,858
Net assets	'	'	'	'	384,000
Non-controlling interests in equity of New Media	$587,315	$789,838	$479,516	$0	$383,040

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	9 Months Ended
	Sep. 30, 2014
	type
Noncontrolling Interest [Line Items]	'
Number of significant types of economic risks	2
Minimum	'
Noncontrolling Interest [Line Items]	'
Minority interest (50% or more)	50.00%

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Investment Manager) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
Product Information [Line Items]	'	'	'	'	'	'
Allowances for uncollectable amounts	$2,300,000	'	$2,300,000	'	'	$3,300,000
Realized gains (losses) on digital currency (Bitcoin)	-11,515,000	0	-11,515,000	0	'	'
Cumulative unrealized losses on digital currency/bitcoin	($5,500,000)	'	($5,500,000)	'	($6,000,000)	'
Statutory income tax rate, percent	'	'	4.00%	'	'	'
Minimum	'	'	'	'	'	'
Product Information [Line Items]	'	'	'	'	'	'
Fixed assets, useful life	'	'	'3 years	'	'	'
Maximum	'	'	'	'	'	'
Product Information [Line Items]	'	'	'	'	'	'
Fixed assets, useful life	'	'	'7 years	'	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Non-Investment Manager) (Details) (Non-Investment Manager, USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014
	vendor
Schedule of Inventory [Line Items]	'
Allowances for uncollectable amounts	4.7
During 2014	'
Schedule of Inventory [Line Items]	'
Percent of newsprint inventory purchased from one vendor	95.00%
Number of vendors newsprint inventory is purchased from	1

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Non-Investment Manager - Estimated Useful Lives) (Details) (Non-Investment Manager)	9 Months Ended
	Sep. 30, 2014
Advertiser Relationships | Minimum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'14 years
Advertiser Relationships | Maximum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'16 years
Customer Relationships | Minimum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'14 years
Customer Relationships | Maximum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'16 years
Subscriber Relationships | Minimum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'13 years
Subscriber Relationships | Maximum	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'16 years
Trade Name	'
Finite-Lived Intangible Assets [Line Items]	'
Weighted average amortization period	'10 years

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Non-Investment Manager - Property, Plant, and Equipment) (Details) (Non-Investment Manager, USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

New Media

New Media

Land

Buildings

Buildings

Building Improvements

Building Improvements

Building Improvements

Machinery and Equipment

Machinery and Equipment

Machinery and Equipment

Furniture, Fixtures, and Computer Software

Furniture, Fixtures, and Computer Software

Furniture, Fixtures, and Computer Software

Construction in progress and other non-depreciating assets

New Media

Minimum

Maximum

New Media

Minimum

Maximum

New Media

Minimum

Maximum

New Media

Minimum

Maximum

New Media

Property, Plant and Equipment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Useful life

'

'

'

'

'

'21 years

'40 years

'

'3 years

'10 years

'

'1 year

'20 years

'

'1 year

'7 years

'

Property, plant and equipment, gross

'

'

$312,405,000

$312,405,000

$25,940,000

'

'

$127,497,000

'

'

$143,431,000

'

'

$14,187,000

'

'

$1,350,000

Less: accumulated depreciation and amortization

'

'

-21,924,000

-21,924,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Total

290,481,000

0

290,481,000

290,481,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciation expense

'

'

$9,200,000

$22,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Goodwill and Intangibles) (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

7 Months Ended

9 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Feb. 14, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Trade Name

New Media

New Media

New Media

New Media

New Media

New Media

New Media

New Media

New Media

New Media

Mastheads

Goodwill

Advertiser Relationships

Customer Relationships

Subscriber Relationships

Trade Name

Amortized intangible assets:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Carrying Amount, Gross

'

'

'

'

'

'

'

$108,366

$108,366

$108,366

'

'

'

$62,325

$7,763

$38,016

$262

Accumulated Amortization

'

'

'

'

'

'

'

-4,169

-4,169

-4,169

'

'

'

-2,437

-245

-1,470

-17

Carrying Amount, Net

'

'

'

'

'

'

'

104,197

104,197

104,197

'

'

'

59,888

7,518

36,546

245

Indefinite-Lived Intangible Assets (Excluding Goodwill)

'

'

'

'

'

'

'

155,133

155,133

155,133

'

50,936

'

'

'

'

'

Weighted average amortization period

'

'

'

'

'

'

'10 years

'

'

'15 years 9 months 24 days

'

'

'

'15 years 9 months 24 days

'15 years 10 months 24 days

'15 years 10 months 24 days

'10 years

Amortization of intangible assets

12

12

34

34

'

'

'

1,700

4,200

'

'

'

'

'

'

'

'

Goodwill

'

'

'

'

$125,407

$0

'

'

'

'

$118,847

'

$125,407

'

'

'

'

SUMMARY_OF_SIGNIFICANT_ACCOUNT9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Estimated Future Amortization Expense) (Details) (Non-Investment Manager, New Media, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Non-Investment Manager | New Media	'
Finite-Lived Intangible Assets [Line Items]	'
October 1, 2014 to December 31, 2014	$1,755
2015	7,022
2016	7,022
2017	7,022
2018	7,022
Thereafter	74,354
Carrying Amount, Net	$104,197

Recovered_Sheet1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Other Assets and Other Liabilities of Non-Investment Manager) (Details) (Non-Investment Manager, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Non-Investment Manager	'	'
Other Assets	'	'
Accounts receivable, net	$73,303	'
Inventory	11,106	'
Prepaid expenses	7,298	'
Miscellaneous assets	25,186	'
Other assets	116,893	0
Other Liabilities	'	'
Accounts payable	8,638	'
Accrued expenses	46,287	'
Pension and postretirement benefit obligations	9,094	'
Miscellaneous liabilities	8,160	'
Other liabilities	$72,179	$0

Recovered_Sheet2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Components of Net Periodic Benefit Cost) (Details) (Non-Investment Manager, USD $)	3 Months Ended	7 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014
Pension	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	$75	$225
Interest cost	295	885
Expected return on plan assets	-406	-1,218
Net periodic benefit cost (income)	-36	-108
Postretirement	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	9	25
Interest cost	63	190
Expected return on plan assets	0	0
Net periodic benefit cost (income)	$72	$215

Recovered_Sheet3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Assumptions We used to Calculate Net Periodic Benefit Cost) (Details) (Non-Investment Manager)	9 Months Ended
	Sep. 30, 2014
Pension	'
Defined Benefit Plan Disclosure [Line Items]	'
Weighted average discount rate	5.00%
Expected return on assets	8.00%
Postretirement	'
Defined Benefit Plan Disclosure [Line Items]	'
Weighted average discount rate	4.50%
Current year trend	7.80%
Ultimate year trend	4.80%
Year of ultimate trend	'2025

MANAGEMENT_AGREEMENTS_AND_FORT2

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Management Fees and Incentive Income) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees, options: affil.	$1,743	$0	$3,346	$36,470
Investment Manager	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Number of principal sources of income from agreements with the Fortress Funds	'	'	2	'
Management fees: affil.	133,674	121,593	397,200	388,957
Management fees: non-affil.	16,774	15,361	52,112	45,531
Incentive income: affil.	30,941	40,934	125,634	103,176
Incentive income: non-affil.	343	1,907	1,030	4,770
Investment Manager | Private Equity Funds	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	33,585	33,686	104,228	99,221
Management fees: non-affil.	53	123	364	345
Incentive income: affil.	0	6,433	22,094	21,742
Investment Manager | Permanent Capital Vehicles	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	16,021	13,884	45,288	43,600
Management fees, options: affil.	1,742	0	3,346	36,470
Management fees: non-affil.	667	643	2,358	2,959
Incentive income: affil.	8,887	4,178	32,142	5,378
Investment Manager | Liquid Hedge Funds	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	29,263	24,313	86,328	61,373
Management fees: non-affil.	4,470	6,324	17,045	18,008
Incentive income: affil.	700	10,886	1,686	17,350
Incentive income: non-affil.	0	1,138	44	3,625
Investment Manager | Credit Hedge Funds	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	28,755	25,455	84,044	75,284
Management fees: non-affil.	41	26	85	151
Incentive income: affil.	8,282	10,756	26,015	31,330
Investment Manager | Credit PE Funds	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	23,540	23,633	71,799	71,115
Management fees: non-affil.	31	35	99	104
Incentive income: affil.	13,072	8,681	43,697	27,376
Incentive income: non-affil.	343	769	986	1,145
Investment Manager | Logan Circle	'	'	'	'
Schedule of Management Agreements [Line Items]	'	'	'	'
Management fees: affil.	768	622	2,167	1,894
Management fees: non-affil.	$11,512	$8,210	$32,161	$23,964

MANAGEMENT_AGREEMENTS_AND_FORT3

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Deferred Incentive Income) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Distributed-Recognized	'	'	'	'
Recognition of previously deferred incentive income	($13,416,000)	($15,883,000)	($66,778,000)	($50,262,000)
Distributed-Unrecognized	'	'	'	'
Recognition of previously deferred incentive income	-13,416,000	-15,883,000	-66,778,000	-50,262,000
Undistributed, net of intrinsic clawback	'	'	'	'
Deferred incentive income as of the end of the period	958,700,000	'	958,700,000	'
Investment Manager	'	'	'	'
Product Information [Line Items]	'	'	'	'
Additional incentive income from affiliates which would be recognized if incentive income was not contingent on the results of the subsequent quarters	'	'	77,100,000	185,900,000
Incentive income distributions from credit PE funds which represented tax distributions	'	'	43,700,000	27,400,000
Distributed-Gross	'	'	'	'
Deferred incentive income as of the beginning of the period	'	'	1,015,084,000	'
Fortress Funds which matured (no longer subject to clawback)	'	'	0	'
Distribution of private equity funds and credit PE funds incentive income	'	'	102,541,000	'
Distribution of private permanent capital vehicle incentive income	'	'	-217,000	'
Changes in foreign exchange rates	'	'	148,000	'
Deferred incentive income as of the end of the period	1,117,990,000	'	1,117,990,000	'
Deferred incentive income including Fortress Funds which matured	1,171,646,000	'	1,171,646,000	'
Distributed-Recognized	'	'	'	'
Deferred incentive income as of the beginning of the period	'	'	-767,528,000	'
Fortress Funds which matured (no longer subject to clawback)	'	'	0	'
Recognition of previously deferred incentive income	'	'	-66,778,000	-50,262,000
Deferred incentive income as of the end of the period	-834,306,000	'	-834,306,000	'
Deferred incentive income including Fortress Funds which matured	-887,962,000	'	-887,962,000	'
Distributed-Unrecognized	'	'	'	'
Deferred incentive income as of the beginning of the period	'	'	247,556,000	'
Distribution of private equity funds and credit PE funds incentive income	'	'	102,541,000	'
Distribution of private permanent capital vehicle incentive income	'	'	-217,000	'
Recognition of previously deferred incentive income	'	'	-66,778,000	-50,262,000
Changes in foreign exchange rates	'	'	148,000	'
Deferred incentive income as of the end of the period	283,684,000	'	283,684,000	'
Undistributed, net of intrinsic clawback	'	'	'	'
Deferred incentive income as of the beginning of the period	'	'	696,333,000	'
Share of income (loss) of Fortress Funds	'	'	365,164,000	'
Distribution of private equity funds and credit PE funds incentive income	'	'	102,541,000	'
Distribution of private permanent capital vehicle incentive income	'	'	-217,000	'
Deferred incentive income as of the end of the period	958,739,000	'	958,739,000	'
Gross undistributed incentive income	1,025,600,000	'	1,025,600,000	'
Intrinsic clawback	66,900,000	'	66,900,000	'
Compensation expense paid under employee profit sharing arrangements in connection with distributed incentive income	507,300,000	'	507,300,000	'
Portion of compensation expense paid under employee profit sharing arrangements in connection with distributed incentive income which has not been expensed	21,500,000	'	21,500,000	'
Clawback obligations recovered from individuals	6,400,000	'	6,400,000	'
Additional expense which would be recognized and paid if gross undistributed incentive income were realized	$484,000,000	'	$484,000,000	'

MANAGEMENT_AGREEMENTS_AND_FORT4

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Distributed-Gross Reconciled to Incentive Income Threshold) (Details) (Investment Manager, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	$1,117,990	$1,015,084
Private Equity Funds | Outside of Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	846,671	'
Private Equity Funds | Outside of Investment Period | NIH (1998)	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	94,513	'
Fortress Funds which are not subject to clawback provision	-94,513	'
Private Equity Funds | Outside of Investment Period | GAGACQ Fund (2004)	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	51,476	'
Fortress Funds which are not subject to clawback provision	-51,476	'
Private Equity Funds | Outside of Investment Period | Fund I (1999)	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	344,939	'
Distributed incentive income that Company is not entitled to	-183,196	'
Private Equity Funds | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	0	'
Credit PE Funds | Outside of Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	479,987	'
Credit PE Funds | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	119,773	'
Permanent Capital Vehicles | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income distributed gross	$744	'

MANAGEMENT_AGREEMENTS_AND_FORT5

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Undistributed, Net of Intrinsic Clawback Reconciled to Incentive Income Threshold) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Management Agreements [Line Items]	'	'
Undistributed, net of intrinsic clawback	$958,700	'
Investment Manager	'	'
Schedule of Management Agreements [Line Items]	'	'
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	-66,900	'
Undistributed, net of intrinsic clawback	958,739	696,333
Investment Manager | Private Equity Funds | Outside of Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	13,922	'
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	-66,903	'
Investment Manager | Private Equity Funds | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	1,828	'
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0	'
Investment Manager | Credit PE Funds | Outside of Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	561,176	'
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0	'
Investment Manager | Credit PE Funds | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	283,159	'
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0	'
Investment Manager | Permanent Capital Vehicles | In Investment Period	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	4,755	'
Investment Manager | Hedge Funds Business	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	160,624	'
Investment Manager | Logan Circle	'	'
Schedule of Management Agreements [Line Items]	'	'
Deferred incentive income undistributed gross of intrinsic clawback	$178	'

MANAGEMENT_AGREEMENTS_AND_FORT6

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (HWM) (Details) (USD $)

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investments made in current year

Newcastle

Eurocastle

New Residential

New Media

In Investment Period

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Private Equity Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Liquid Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Credit Hedge Funds

Logan Circle

Logan Circle

Investment Manager

WWTAI (2011)

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

Outside of Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

In Investment Period

Macro Funds

Macro Funds

Macro Funds

Macro Funds

Macro Funds

Asia Macro Funds

Asia Macro Funds

Fortress Convex Asia Funds

Fortress Partners Funds

Fortress Partners Funds

Special Opportunities Funds

Special Opportunities Funds

Special Opportunities Funds

Special Opportunities Funds

Special Opportunities Funds

Worden Funds

Value Recovery Funds

Fortress Japan Income Fund

Main fund investments

Managed accounts

Fixed Income Funds

NIH (1998)

Fund I (1999)

Fund II (2002)

Fund III (2004)

Fund III Coinvestment (2004)

Fund IV (2006)

Fund IV Coinvestment (2006)

Fund V (2007)

Fund V Coinvestment (2007)

GAGACQ Fund (2004)

FRID (2005)

FRIC (2006)

FICO (2006)

FHIF (2006)

FECI (2007)

MSR Opportunities Fund I A (2012)

MSR Opportunities Fund I B (2012)

MSR Opportunities Fund II A (2013)

MSR Opportunities Fund II B (2013)

MSR Opportunities Fund II MA I (2013)

Italian NPL Opportunities (2013)

Long Dated Value Fund I (2005)

Long Dated Value Fund II (2005)

Long Dated Value Fund III (2007)

LDVF Patent Fund (2007)

Real Assets Fund (2007)

Credit Opportunities Fund (2008)

SIP Managed Account (2010)

Japan Opportunity Fund (2009)

Net Lease Fund I (2010) [Member]

Credit Opportunities Fund II (2009)

FCO Managed Account (2010)

Global Opportunities Fund (2010)

Real Estate Opportunities Fund (2011)

Credit Opportunities Fund III (2011)

FCO Managed Accounts (2008-2012)

Japan Opportunity Fund II (Yen) (2011)

Japan Opportunity Fund II (Dollar) (2011)

Life Settlements Fund (2010)

Life Settlements Fund MA (2010)

Real Estate Opportunities REOC Fund (2011)

Real Estate Opportunities Fund II(2014)

Main fund investments

Single investor funds [Member] [Domain]

Sidepocket investments - redeemers

Sidepocket investments

Managed accounts

Main fund investments

Managed accounts

Main fund investments

Main fund investments

Sidepocket investments

Main fund investments

Sidepocket investments - redeemers

Sidepocket investments

Main fund investments (liquidating)

Managed accounts

Main fund investments

Managed accounts

Main fund investments

Schedule of Management Agreements [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Inception to Date Capital Invested

'

'

'

'

'

'

'

$499,372,000

'

$415,574,000

$1,015,943,000

$1,974,298,000

$2,762,992,000

$273,649,000

$3,639,561,000

$762,696,000

$4,103,713,000

$990,480,000

$545,663,000

$1,220,229,000

$328,754,000

$724,525,000

$1,543,463,000

$982,779,000

$328,882,000

$79,748,000

'

$50,605,000

$722,000

$11,609,000

$15,631,000

'

$267,325,000

$274,280,000

$343,156,000

$42,457,000

$359,024,000

$5,542,293,000

$11,000,000

$988,462,000

$152,721,000

$2,262,185,000

$574,352,000

$304,304,000

$533,698,000

'

$2,592,599,000

$3,637,284,000

$616,578,000

$562,041,000

$390,760,000

$31,978,000

$49,472,000

$121,405,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Inception to Date Distributions

'

'

'

'

'

'

'

-85,231,000

'

-823,588,000

-2,847,929,000

-3,442,900,000

-2,138,525,000

-225,188,000

-1,310,031,000

-257,537,000

-785,298,000

-90,665,000

-595,401,000

-1,199,599,000

-289,768,000

-5,000

-532,805,000

-311,000

-92,979,000

-22,521,000

'

-4,623,000

-66,000

-1,061,000

0

'

-89,874,000

-147,790,000

-272,641,000

-39,584,000

-335,000,000

-6,723,137,000

-33,700,000

-1,031,344,000

-221,668,000

-2,164,437,000

-496,165,000

-157,541,000

-212,539,000

'

-1,120,567,000

-2,624,911,000

-202,364,000

-164,458,000

-299,330,000

-24,482,000

-18,840,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net Asset Value (bNAVb)

'

'

'

'

'

'

'

471,833,000

'

0

0

2,734,000

1,572,491,000

74,901,000

2,957,210,000

449,513,000

4,943,372,000

588,129,000

'

2,775,000

1,602,000

-62,120,000

1,936,940,000

1,028,944,000

332,176,000

80,368,000

'

55,932,000

792,000

12,833,000

13,354,000

'

300,739,000

201,357,000

207,266,000

36,895,000

141,121,000

1,374,412,000

10,872,000

838,452,000

4,959,000

1,192,006,000

367,510,000

212,464,000

431,176,000

'

1,988,145,000

2,138,941,000

615,513,000

579,285,000

68,279,000

5,380,000

47,593,000

121,147,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,600,000

NAV Surplus (Deficit)

'

'

'

'

'

'

'

57,692,000

'

'

'

1,471,336,000

948,024,000

26,440,000

627,680,000

-55,646,000

1,624,957,000

-311,686,000

'

-17,855,000

-37,384,000

-786,640,000

926,282,000

46,476,000

96,273,000

23,141,000

'

9,950,000

136,000

2,285,000

-2,277,000

'

123,288,000

74,867,000

136,751,000

34,022,000

117,097,000

2,555,256,000

33,572,000

881,334,000

73,906,000

1,094,258,000

289,323,000

65,701,000

110,017,000

'

516,113,000

1,126,568,000

201,299,000

181,702,000

-23,151,000

-2,116,000

16,961,000

-258,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Current Preferred Return Threshold

'

'

'

'

'

'

'

34,797,000

'

0

0

0

1,958,669,000

232,209,000

2,632,585,000

562,167,000

2,363,286,000

622,196,000

'

941,358,000

271,601,000

579,458,000

1,124,702,000

718,131,000

32,336,000

7,831,000

'

3,037,000

43,000

697,000

334,000

'

141,875,000

111,423,000

0

0

0

0

0

0

0

0

0

0

0

'

0

0

0

0

71,057,000

5,836,000

0

1,413,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Incentive Income Eligible NAV

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,585,061,000

862,958,000

113,342,000

10,574,000

659,948,000

2,651,697,000

325,618,000

189,061,000

6,230,000

126,434,000

4,666,211,000

213,034,000

63,902,000

516,753,000

7,919,000

260,911,000

17,089,000

13,362,000

55,000,000

303,882,000

'

Gain to Cross Incentive Income Threshold

'

'

'

'

156,938,000

0

8,995,000

'

'

'

'

'

1,010,645,000

205,769,000

2,004,905,000

617,813,000

741,289,000

933,882,000

'

959,213,000

308,985,000

1,366,098,000

198,420,000

671,655,000

'

'

'

'

'

'

2,611,000

'

18,587,000

36,556,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

94,208,000

7,952,000

'

1,671,000

73,036,000

44,451,000

71,364,000

8,124,000

35,540,000

67,529,000

12,925,000

10,590,000

20,814,000

19,380,000

0

53,072,000

0

0

45,458,000

83,000

5,249,000

'

4,000

836,000

'

Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

14.10%

0.80%

'

'

0.60%

5.50%

0.00%

11.30%

0.00%

'

100.00%

'

'

100.00%

0.00%

97.90%

60.30%

0.00%

0.00%

50.70%

'

Gross undistributed incentive income

'

1,025,600,000

'

'

'

'

'

4,755,000

13,922,000

0

0

540,000

0

0

0

0

1,776,000

0

'

0

0

0

0

0

9,293,000

2,313,000

1,828,000

1,470,000

20,000

338,000

0

561,176,000

0

0

18,908,000

1,715,000

13,004,000

200,517,000

2,174,000

118,261,000

303,000

144,303,000

42,587,000

11,002,000

8,402,000

283,159,000

84,579,000

140,757,000

31,563,000

23,569,000

0

0

2,691,000

0

458,000

19,000

1,132,000

163,000

10,000

397,000

0

14,000

0

5,754,000

72,838,000

5,218,000

4,779,000

66,615,000

0

3,182,000

45,000

0

0

178,000

'

Year to Date Incentive Income Crystallized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

69,000

0

1,204,000

334,000

1,000

0

0

0

0

0

0

1,217,000

0

24,833,000

0

2,000

0

0

0

0

'

Distributed Incentive Income

'

1,117,990,000

1,015,084,000

'

'

'

'

744,000

846,671,000

94,513,000

344,939,000

288,840,000

66,903,000

0

0

0

0

0

51,476,000

0

0

0

0

0

0

0

0

0

0

0

0

479,987,000

0

412,000

6,473,000

1,471,000

5,285,000

301,802,000

4,540,000

64,953,000

9,396,000

70,318,000

12,347,000

1,788,000

1,202,000

119,773,000

16,459,000

81,856,000

9,312,000

11,462,000

0

0

684,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distributed incentive income subject to clawback

'

283,684,000

247,556,000

'

'

'

'

744,000

66,903,000

0

0

0

66,903,000

0

0

0

0

0

'

0

0

0

0

0

0

0

0

0

0

0

0

170,909,000

0

0

0

0

0

129,383,000

0

16,768,000

6,336,000

15,999,000

0

1,788,000

635,000

45,128,000

3,898,000

40,914,000

0

0

0

0

316,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gross Intrinsic Clawback

'

66,900,000

'

'

'

'

'

0

66,903,000

0

0

0

66,903,000

0

0

0

0

0

'

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net Intrinsic Clawback

45,108,000

'

'

'

'

'

'

0

45,108,000

0

0

0

45,108,000

0

0

0

0

0

'

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Portion of amount due to employees under profit sharing arrangements withheld as reserve against future clawback

'

31,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of undistributed and distributed income which the entity is entitled

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

NAV of fund excluded

'

292,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity Eligible for Incentive Income

'

'

'

1,650,704,000

510,099,000

1,372,067,000

511,028,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Life to Date Incentive Income Crystallized

'

'

'

$41,283,000

$39,217,000

$47,795,000

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

MANAGEMENT_AGREEMENTS_AND_FORT7

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Private Equity Funds and Credit PE Funds) (Details) (USD $)

1 Months Ended

3 Months Ended

1 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Fortress

Fortress

Fortress

Permanent Capital Vehicles

Permanent Capital Vehicles

FRID

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

First Two Years [Member]

After the First Two Years [Member]

property

Newcastle

Fortress

Investments made in current year

Investments made in current year

Investments made in current year

Investments made in current year

Investments made in current year

Investments made in current year

Investments made in current year

Investments made in current year

Fortress

Fortress

property

Private Equity Segment

Private Equity Segment

Private Equity Segment

Private Equity Segment

Credit PE Funds

Credit PE Funds

Credit PE Funds

Credit PE Funds

Fortress

Fortress's affiliates

Third party investors

Fortress

Fortress's affiliates

Third party investors

Schedule of Private Equity Funds Formed During the Period [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capital commitments

'

'

'

'

'

'

$1,080,330,000

$11,533,000

$303,285,000

$765,512,000

$297,835,000

$12,000,000

$1,205,000

$284,630,000

'

'

Number of Properties Owned by Investee

'

'

'

'

7

'

'

'

'

'

'

'

'

'

'

'

Management Fees Received as a Percent of Revenue

5.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

7.00%

Number of Properties Owned by Third Parties

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

Third party property owner payments

'

'

1,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional Net Incentive Income

'

900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Incentive Income Distribution

'

'

'

'

'

16,400,000

'

'

'

'

'

'

'

'

'

'

Net Incentive Income, Net of Employee Amount

'

'

'

'

'

$10,000,000

'

'

'

'

'

'

'

'

'

'

MANAGEMENT_AGREEMENTS_AND_FORT8

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Liquid Hedge Funds and Credit Hedge Funds) (Details)	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014
	Liquid Hedge Funds	Liquid Hedge Funds	Liquid Hedge Funds	Liquid Hedge Funds	Credit Hedge Funds	Credit Hedge Funds	Credit Hedge Funds	Credit Hedge Funds	Investment Manager	Investments made in current year
	USD ($)	Total Fortress Shareholdersb Equity	Fortress's affiliates	Third party investors	USD ($)	Total Fortress Shareholdersb Equity	Fortress's affiliates	Third party investors	Investment Vehicles	Fixed Income Funds
		USD ($)	USD ($)	USD ($)		USD ($)	USD ($)	USD ($)	EUR (€)	Investment Manager
										fund
Schedule of Management Agreements [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of new funds under management	'	'	'	'	'	'	'	'	'	2
Capital Net Asset Value	$81,916,000	$47,029,000	$34,887,000	$0	$13,362,000	$0	$0	$13,362,000	'	'
Maximum borrowing amount	'	'	'	'	'	'	'	'	€ 300,000,000	'

INVESTMENTS_AND_FAIR_VALUE_Inv

INVESTMENTS AND FAIR VALUE (Investments, Gains (Losses) and Generation) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investment Manager	'	'	'	'	'
Investments	'	'	'	'	'
Equity method investees	$1,086,449	'	$1,086,449	'	$1,174,878
Equity method investees, held at fair value (A)	13,506	'	13,506	'	78,388
Total equity method investments	1,099,955	'	1,099,955	'	1,253,266
Options in equity method investees	70,251	'	70,251	'	104,338
Gains (losses) from investments	'	'	'	'	'
Net realized gains (losses)	-10,150	36	-9,558	-335	'
Net realized gains (losses) from affiliate investments	3,640	6,616	47,988	6,499	'
Net unrealized gains (losses)	16,845	52	11,321	5,654	'
Net unrealized gains (losses) from affiliate investments	-29,694	799	-75,986	33,760	'
Total gains (losses)	-19,359	7,503	-26,235	45,578	'
Gains (losses)	'	'	'	'	'
Mark to fair value on affiliate investments and options	-25,777	7,008	-27,743	39,590	'
Mark to fair value on derivatives	11,994	-1,476	8,300	3,805	'
Mark to fair value on equity securities	-98	1,527	672	1,524	'
Realized gains (losses) on digital currency (Bitcoin)	-11,515	0	-11,515	0	'
Reversal of prior period unrealized (gains) losses on digital currency (Bitcoin)	5,974	0	3,702	0	'
Other	63	444	349	659	'
Total gains (losses)	($19,359)	$7,503	($26,235)	$45,578	'

INVESTMENTS_AND_FAIR_VALUE_Sum

INVESTMENTS AND FAIR VALUE (Summary Financial Information Related to Investments) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	$1,099,955	'	$1,099,955	'	$1,253,266
Fortress's investment at fair value	13,506	'	13,506	'	78,388
Earnings (losses) from equity method investees	38,928	60,508	81,750	125,515	'
Private equity funds, excluding NIH	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	711,567	'	711,567	'	786,093
Earnings (losses) from equity method investees	31,278	44,469	48,628	79,711	'
NIH	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	0	'	0	'	0
Earnings (losses) from equity method investees	0	0	0	-554	'
Publicly traded portfolio companies	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortress's investment at fair value	1,022	'	1,022	'	63,001
WWTAI	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortress's investment at fair value	3,799	'	3,799	'	3,801
Earnings (losses) from equity method investees	-6	83	-64	218	'
Newcastle	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortress's investment at fair value	4,383	'	4,383	'	5,953
New Residential	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortress's investment at fair value	6,046	'	6,046	'	6,928
Eurocastle	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortress's investment at fair value	2,055	'	2,055	'	2,506
Total private equity	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	728,872	'	728,872	'	868,282
Earnings (losses) from equity method investees	31,272	44,552	48,564	79,375	'
Liquid Hedge Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	126,649	'	126,649	'	158,920
Earnings (losses) from equity method investees	515	7,525	3,801	14,138	'
Credit Hedge Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	56,773	'	56,773	'	58,825
Earnings (losses) from equity method investees	1,595	3,372	6,404	9,037	'
Credit PE funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	178,471	'	178,471	'	159,044
Earnings (losses) from equity method investees	4,810	5,311	22,204	23,161	'
Other	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	9,190	'	9,190	'	8,195
Earnings (losses) from equity method investees	$736	($252)	$777	($196)	'

INVESTMENTS_AND_FAIR_VALUE_Sum1

INVESTMENTS AND FAIR VALUE (Summary of Changes in Fortressbs Investments in Equity Method Investees) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	$1,253,266	'
Earnings (losses) from equity method investees	38,928	60,508	81,750	125,515
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	288,751	'
Distributions of earnings from equity method investees	'	'	-78,337	'
Distributions of capital from equity method investees	'	'	-379,978	'
Total distributions from equity method investees	'	'	-458,315	'
Mark to fair value - during period	'	'	2,160	'
Translation adjustment	'	'	-1,759	'
Dispositions	'	'	-66,636	'
Reclassification to Due to Affiliates	'	'	1,674	'
Consolidation of Non-Investment Manager	'	'	-936	'
Investment, ending	1,099,955	'	1,099,955	'
Ending balance of undistributed earnings	94,096	'	94,096	'
NIH	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	0	'
Earnings (losses) from equity method investees	0	0	0	-554
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	0	'
Distributions of earnings from equity method investees	'	'	0	'
Distributions of capital from equity method investees	'	'	0	'
Total distributions from equity method investees	'	'	0	'
Translation adjustment	'	'	0	'
Dispositions	'	'	0	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	0	'	0	'
Ending balance of undistributed earnings	0	'	0	'
Private equity funds, excluding NIH	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	786,093	'
Earnings (losses) from equity method investees	31,278	44,469	48,628	79,711
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	2,290	'
Distributions of earnings from equity method investees	'	'	-48,139	'
Distributions of capital from equity method investees	'	'	-77,730	'
Total distributions from equity method investees	'	'	-125,869	'
Mark to fair value - during period	'	'	-1,249	'
Translation adjustment	'	'	0	'
Dispositions	'	'	0	'
Reclassification to Due to Affiliates	'	'	1,674	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	711,567	'	711,567	'
Ending balance of undistributed earnings	77,818	'	77,818	'
Private Equity Portfolio Companies and Permanent Capital Vehicles	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	63,001	'
Contributions to equity method investees	'	'	0	'
Total distributions from equity method investees	'	'	0	'
Mark to fair value - during period	'	'	5,186	'
Translation adjustment	'	'	-741	'
Dispositions	'	'	-66,424	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	1,022	'	1,022	'
Permanent Capital Vehicles	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	19,188	'
Earnings (losses) from equity method investees	'	'	-64	'
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	-49	'
Distributions of earnings from equity method investees	'	'	-38	'
Distributions of capital from equity method investees	'	'	147	'
Total distributions from equity method investees	'	'	109	'
Mark to fair value - during period	'	'	-1,777	'
Translation adjustment	'	'	-188	'
Dispositions	'	'	0	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	-936	'
Investment, ending	16,283	'	16,283	'
Ending balance of undistributed earnings	0	'	0	'
Liquid Hedge Funds	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	158,920	'
Earnings (losses) from equity method investees	515	7,525	3,801	14,138
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	89,324	'
Distributions of earnings from equity method investees	'	'	-4,482	'
Distributions of capital from equity method investees	'	'	-120,914	'
Total distributions from equity method investees	'	'	-125,396	'
Translation adjustment	'	'	0	'
Dispositions	'	'	0	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	126,649	'	126,649	'
Ending balance of undistributed earnings	386	'	386	'
Credit Hedge Funds	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	58,825	'
Earnings (losses) from equity method investees	1,595	3,372	6,404	9,037
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	167,669	'
Distributions of earnings from equity method investees	'	'	-6,196	'
Distributions of capital from equity method investees	'	'	-169,929	'
Total distributions from equity method investees	'	'	-176,125	'
Translation adjustment	'	'	0	'
Dispositions	'	'	0	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	56,773	'	56,773	'
Ending balance of undistributed earnings	2,195	'	2,195	'
Credit PE Funds	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	159,044	'
Earnings (losses) from equity method investees	4,810	5,311	22,204	23,161
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	28,949	'
Distributions of earnings from equity method investees	'	'	-19,449	'
Distributions of capital from equity method investees	'	'	-11,445	'
Total distributions from equity method investees	'	'	-30,894	'
Translation adjustment	'	'	-830	'
Dispositions	'	'	-2	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	178,471	'	178,471	'
Ending balance of undistributed earnings	10,978	'	10,978	'
Other	'	'	'	'
Changes in investments in equity method investees	'	'	'	'
Investment, beginning	'	'	8,195	'
Earnings (losses) from equity method investees	736	-252	777	-196
Other comprehensive income from equity method investees	'	'	0	'
Contributions to equity method investees	'	'	568	'
Distributions of earnings from equity method investees	'	'	-33	'
Distributions of capital from equity method investees	'	'	-107	'
Total distributions from equity method investees	'	'	-140	'
Translation adjustment	'	'	0	'
Dispositions	'	'	-210	'
Reclassification to Due to Affiliates	'	'	0	'
Consolidation of Non-Investment Manager	'	'	0	'
Investment, ending	9,190	'	9,190	'
Ending balance of undistributed earnings	$2,719	'	$2,719	'

INVESTMENTS_AND_FAIR_VALUE_Amo

INVESTMENTS AND FAIR VALUE (Amounts Presented on the Statement of Cash Flows) (Details) (Investment Manager, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Investment Manager	'	'
Contributions	'	'
Per consolidated statements of cash flows	$21,487	$25,885
Investments of incentive receivable amounts into Fortress Funds	256,993	206,455
Net funded	10,271	'
Other	0	'
Per Above	288,751	'
Distributions of Capital	'	'
Per consolidated statements of cash flows	-368,373	-257,829
Investments of incentive receivable amounts into Fortress Funds	0	'
Change in distributions payable out of Fortress Funds	176	'
Net funded	-10,271	'
Other	-1,510	'
Per Above	($379,978)	'

INVESTMENTS_AND_FAIR_VALUE_Own

INVESTMENTS AND FAIR VALUE (Ownership Percentages) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Fortressbs Investment	$1,099,955	'	$1,099,955	'	$1,253,266
Fortressbs equity in net income (loss)	38,928	60,508	81,750	125,515	'
Private equity funds, excluding NIH	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Assets	14,267,465	'	14,267,465	'	16,982,954
Debt	-3,251	'	-3,251	'	-1,626
Other liabilities	-141,389	'	-141,389	'	-185,144
Equity	14,122,825	'	14,122,825	'	16,796,184
Fortressbs Investment	711,567	'	711,567	'	786,093
Ownership	5.00%	'	5.00%	'	4.70%
Revenues and gains (losses) on investments	'	'	891,148	2,731,208	'
Expenses	'	'	-146,652	-148,233	'
Net Income (Loss)	'	'	744,496	2,582,975	'
Fortressbs equity in net income (loss)	31,278	44,469	48,628	79,711	'
Number Of Entities Reported Using Lagging Financial Information	'	'	4	'	'
Lag in preparation of summary of financial information (in quarters)	'	'	1	'	'
Liquid Hedge Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Assets	18,115,038	'	18,115,038	'	13,167,316
Debt	0	'	0	'	0
Other liabilities	-11,119,029	'	-11,119,029	'	-6,735,989
Non-controlling interest	0	'	0	'	0
Equity	6,996,009	'	6,996,009	'	6,431,327
Fortressbs Investment	126,649	'	126,649	'	158,920
Ownership	1.80%	'	1.80%	'	2.50%
Revenues and gains (losses) on investments	'	'	-32,720	538,394	'
Expenses	'	'	-161,404	-111,418	'
Net Income (Loss)	'	'	-194,124	426,976	'
Fortressbs equity in net income (loss)	515	7,525	3,801	14,138	'
Credit Hedge Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Assets	11,311,558	'	11,311,558	'	10,226,023
Debt	-4,468,255	'	-4,468,255	'	-3,918,692
Other liabilities	-382,626	'	-382,626	'	-332,510
Non-controlling interest	-13,605	'	-13,605	'	-6,470
Equity	6,447,072	'	6,447,072	'	5,968,351
Fortressbs Investment	56,773	'	56,773	'	58,825
Ownership	0.90%	'	0.90%	'	1.00%
Revenues and gains (losses) on investments	'	'	797,387	975,979	'
Expenses	'	'	-258,480	-182,961	'
Net Income (Loss)	'	'	538,907	793,018	'
Fortressbs equity in net income (loss)	1,595	3,372	6,404	9,037	'
Credit PE Funds	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Assets	11,445,230	'	11,445,230	'	10,544,754
Debt	-168,275	'	-168,275	'	-161,225
Other liabilities	-367,364	'	-367,364	'	-311,538
Non-controlling interest	-4,456	'	-4,456	'	-3,461
Equity	10,905,135	'	10,905,135	'	10,068,530
Fortressbs Investment	178,471	'	178,471	'	159,044
Ownership	1.60%	'	1.60%	'	1.60%
Revenues and gains (losses) on investments	'	'	1,687,296	1,296,556	'
Expenses	'	'	-194,818	-233,363	'
Net Income (Loss)	'	'	1,492,478	1,063,193	'
Fortressbs equity in net income (loss)	$4,810	$5,311	$22,204	$23,161	'
Number Of Entities Reported Using Lagging Financial Information	'	'	1	'	'
Lag in preparation of summary of financial information (in quarters)	'	'	1	'	'
Lag in preparation of summary of financial information (in months)	'	'	'1 month	'	'

INVESTMENTS_AND_FAIR_VALUE_Ent

INVESTMENTS AND FAIR VALUE (Entities Information) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	variable_interest_entity	variable_interest_entity
Investment Manager	'	'
Investments in Variable Interest Entities	'	'
Number of unconsolidated entities	204	'
Investment Manager | Fortress is not Primary Beneficiary | Private Equity Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	1
Gross Assets	$547	$789
Financial Obligations	0	0
Fortress Investment	0	155
Investment Manager | Fortress is not Primary Beneficiary | Permanent Capital Vehicles	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	3	3
Gross Assets	13,310,838	13,950,294
Financial Obligations	9,421,240	9,804,741
Fortress Investment	123,477	145,472
Investment Manager | Fortress is not Primary Beneficiary | Liquid Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	4	2
Gross Assets	4,894,165	4,897,650
Financial Obligations	1,682,004	2,343,406
Fortress Investment	4,789	40,816
Investment Manager | Fortress is not Primary Beneficiary | Credit Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	6	6
Gross Assets	2,010,902	1,966,802
Financial Obligations	259,722	370,607
Fortress Investment	3,122	50,945
Investment Manager | Fortress is not Primary Beneficiary | Credit PE Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	37	33
Gross Assets	1,163,735	1,229,250
Financial Obligations	144,090	362,642
Fortress Investment	6,728	5,350
Investment Manager | Fortress is not Primary Beneficiary | Logan Circle	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	3	1
Gross Assets	360,917	244,828
Financial Obligations	0	0
Fortress Investment	195	144
Investment Manager | Fortress is not Primary Beneficiary | Investments made in current year | Liquid Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	2	'
Gross Assets	34,982	'
Financial Obligations	0	'
Fortress Investment	95	'
Investment Manager | Fortress is not Primary Beneficiary | Investments made in current year | Credit PE Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	6	'
Gross Assets	100,023	'
Financial Obligations	33,562	'
Fortress Investment	1,093	'
Investment Manager | Fortress is not Primary Beneficiary | Investments made in current year | Logan Circle	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	2	'
Gross Assets	105,037	'
Financial Obligations	0	'
Fortress Investment	0	'
Investment Manager | Fortress is Primary Beneficiary | Private Equity Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	2	1
Fortress Investment	11,444	15,868
Gross Assets	96,459	52,976
Financial Obligations	0	0
Investment Manager | Fortress is Primary Beneficiary | Liquid Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	0
Fortress Investment	47,532	0
Gross Assets	133,730	0
Financial Obligations	37,258	0
Investment Manager | Fortress is Primary Beneficiary | Credit Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	3	0
Fortress Investment	0	0
Gross Assets	0	0
Financial Obligations	0	0
Investment Manager | Fortress is Primary Beneficiary | Investments made in current year | Private Equity Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	'
Fortress Investment	50	'
Gross Assets	58,476	'
Financial Obligations	0	'
Investment Manager | Fortress is Primary Beneficiary | Investments made in current year | Liquid Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	'
Fortress Investment	47,532	'
Gross Assets	133,730	'
Financial Obligations	37,258	'
Investment Manager | Fortress is Primary Beneficiary | Investments made in current year | Credit Hedge Funds	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	3	'
Fortress Investment	0	'
Gross Assets	0	'
Financial Obligations	0	'
Investment Manager | Voting Interest Entities	'	'
Investments in Variable Interest Entities	'	'
Number of unconsolidated entities	143	'
Investment Manager | Classified as VIEs	'	'
Investments in Variable Interest Entities	'	'
Number of unconsolidated entities	61	'
Non-Investment Manager | Fortress is Primary Beneficiary | Permanent Capital Vehicles	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	0
Fortress Investment	6,474	0
Gross Assets	822,977	0
Financial Obligations	232,275	0
Non-Investment Manager | Fortress is Primary Beneficiary | Investments made in current year | Permanent Capital Vehicles	'	'
Investments in Variable Interest Entities	'	'
Number of VIEs	1	'
Fortress Investment	6,474	'
Gross Assets	822,977	'
Financial Obligations	$232,275	'

INVESTMENTS_AND_FAIR_VALUE_Fai

INVESTMENTS AND FAIR VALUE (Fair Value of Financial Instruments) (Details) (Investment Manager, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets (within Investments)	'	'
Total equity method investments carried at fair value	$13,506	$78,388
Newcastle, New Residential and Eurocastle options	70,251	104,338
Level 1 | Permanent Capital Vehicles | Common stock	'	'
Assets (within Investments)	'	'
Total equity method investments carried at fair value	12,484	15,387
Level 1 | Publicly traded portfolio companies | Common stock	'	'
Assets (within Investments)	'	'
Total equity method investments carried at fair value	1,022	63,001
Level 1 | Logan Circle	'	'
Assets (within Other Assets)	'	'
Equity Securities	16,990	23,005
Level 2	'	'
Assets (within Other Assets)	'	'
Derivatives	17,785	9,749
Liabilities (within Accrued Compensation and Benefits)	'	'
Options in affiliates granted to employees	-8,831	-16,390
Liabilities (within Other Liabilities)	'	'
Derivatives	-2,416	-1,820
Level 2 | Permanent Capital Vehicles	'	'
Assets (within Investments)	'	'
Newcastle, New Residential and Eurocastle options	$70,251	$104,338

INVESTMENTS_AND_FAIR_VALUE_Nar

INVESTMENTS AND FAIR VALUE (Narrative) (Details) (USD $)

3 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

Jun. 30, 2014

Mar. 31, 2014

Apr. 30, 2014

Sep. 30, 2014

Oct. 30, 2014

Aug. 31, 2014

Sep. 30, 2014

Oct. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Aug. 31, 2014

GAGFAH

GAGFAH

New Residential

New Residential

New Residential

Newcastle

Newcastle

Newcastle

Scenario, Previously Reported

Scenario, Previously Reported

IPO [Member]

IPO [Member]

Subsequent event

Subsequent event

New Residential

Newcastle

New Media

New Media

Investment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Sale of stock

4,190,761

'

'

'

'

'

'

'

'

'

'

'

Gain on sale of investments

$44,700,000

'

'

'

'

'

'

'

'

'

'

'

Investments

'

41,000,000

'

'

'

'

'

'

'

'

'

'

Total gains (losses)

3,700,000

'

'

'

'

'

'

'

'

'

'

'

Public offering (in shares)

'

'

14,400,000

'

'

7,700,000

'

'

'

'

7,500,000

'

Price per share

'

'

$12.20

'

'

$26.34

'

'

'

'

$16.25

'

Proceeds from issuance of common stock

'

'

'

'

'

'

'

'

'

'

114,900,000

'

Shares purchased

'

'

1,400,000

'

'

800,000

'

'

'

'

700,000

'

Payments to acquire shares

'

'

$1,600,000

'

'

$1,700,000

'

'

'

'

$3,000,000

'

Exercisable period

'

'

'30 months

'

'

'30 months

'

'

'

'

'30 months

'

Options term

'

'

'10 years

'

'

'10 years

'

'

'

'

'

'10 years

Reverse stock split

'

'

'

'

0.5

0.3333

'

0.5

'

'

'

'

Common stock, shares issued

'

'

'

141,400,000

'

'

66,400,000

'

282,800,000

398,400,000

'

'

Common stock, shares outstanding

'

'

'

141,400,000

'

'

66,400,000

'

282,800,000

398,400,000

'

'

INVESTMENTS_AND_FAIR_VALUE_Der

INVESTMENTS AND FAIR VALUE (Derivatives) (Details) (Investment Manager)	3 Months Ended		9 Months Ended				9 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
	USD ($)	USD ($)	USD ($)	USD ($)	Foreign exchange forward contract, one	Foreign exchange forward contract, one	Foreign exchange option contract, one	Foreign exchange option contract, one	Foreign exchange option contract, two	Foreign exchange option contract, two
					USD ($)	JPY (¥)	USD ($)	JPY (¥)	USD ($)	JPY (¥)
Derivatives	'	'	'	'	'	'	'	'	'	'
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	'	'	'	'	'	'	'	'	($2,416)	'
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Assets at Fair Value	'	'	'	'	1,088	'	16,697	'	'	'
Notional Amount	'	'	'	'	'	1,776,837	'	40,835,266	'	4,719,235
Gains/(Losses)	'	'	'	'	1,088	'	7,730	'	-606	'
Mark to fair value on derivatives	11,994	-1,476	8,300	3,805	'	'	'	'	'	'
Notional amount	'	'	'	'	'	¥ 1,776,837	'	¥ 40,835,266	'	¥ 4,719,235

INVESTMENTS_AND_FAIR_VALUE_Inv1

INVESTMENTS AND FAIR VALUE (Investments at Fair Value- Investment Company) (Details) (Investment Manager, Investment Company - consolidated VIEs, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment [Line Items]	'	'
Cost	$130,414	'
Fair Value	133,857	0
Percentage of Investment Company	100.00%	'
Common stock	'	'
Investment [Line Items]	'	'
Cost	71,437	'
Fair Value	70,351	'
Percentage of Investment Company	52.00%	'
Investments in affiliates (A)	'	'
Investment [Line Items]	'	'
Cost	58,155	'
Fair Value	58,155	'
Percentage of Investment Company	43.00%	'
Options	'	'
Investment [Line Items]	'	'
Cost	822	'
Fair Value	590	'
Percentage of Investment Company	1.00%	'
Derivatives	'	'
Investment [Line Items]	'	'
Cost	0	'
Fair Value	$4,761	'
Percentage of Investment Company	4.00%	'

INVESTMENTS_AND_FAIR_VALUE_Inv2

INVESTMENTS AND FAIR VALUE (Investment Company Liabilities) (Details) (Investment Manager, Investment Company - consolidated VIEs, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Investment [Line Items]	'
Cost	$38,935
Fair Value	38,061
Percentage of Investment Company	100.00%
Securities sold not yet purchased, at fair value	'
Investment [Line Items]	'
Cost	38,902
Fair Value	37,258
Percentage of Investment Company	98.00%
Options	'
Investment [Line Items]	'
Cost	33
Fair Value	23
Percentage of Investment Company	0.00%
Derivatives	'
Investment [Line Items]	'
Cost	0
Fair Value	$780
Percentage of Investment Company	2.00%

INVESTMENTS_AND_FAIR_VALUE_Inv3

INVESTMENTS AND FAIR VALUE (Investment Company- Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) (Investment Manager, Investment Company - consolidated VIEs, USD $)	9 Months Ended
	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	$134,650,000
Liabilities, Fair Value Disclosure, Recurring	38,854,000
Notional amount	211,100,000
Cost	130,414,000
Securities Sold, Not yet Purchased	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, Fair Value Disclosure, Recurring	37,258,000
Common stock	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	70,351,000
Cost	71,437,000
Investments in affiliates (A)	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	58,155,000
Cost	58,155,000
Options	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	590,000
Liabilities, Fair Value Disclosure, Recurring	23,000
Cost	822,000
Derivatives	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	5,554,000
Liabilities, Fair Value Disclosure, Recurring	1,573,000
Cost	0
Level 1	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	70,769,000
Liabilities, Fair Value Disclosure, Recurring	37,346,000
Level 1 | Securities Sold, Not yet Purchased	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, Fair Value Disclosure, Recurring	37,258,000
Level 1 | Common stock	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	70,351,000
Level 1 | Investments in affiliates (A)	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Level 1 | Options	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	375,000
Liabilities, Fair Value Disclosure, Recurring	0
Level 1 | Derivatives	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	43,000
Liabilities, Fair Value Disclosure, Recurring	88,000
Level 2	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	5,726,000
Liabilities, Fair Value Disclosure, Recurring	1,508,000
Level 2 | Securities Sold, Not yet Purchased	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, Fair Value Disclosure, Recurring	0
Level 2 | Common stock	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Level 2 | Investments in affiliates (A)	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Level 2 | Options	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	215,000
Liabilities, Fair Value Disclosure, Recurring	23,000
Level 2 | Derivatives	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	5,511,000
Liabilities, Fair Value Disclosure, Recurring	1,485,000
Level 3	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	58,155,000
Liabilities, Fair Value Disclosure, Recurring	0
Investment purchases	58,200,000
Cost	58,200,000
Level 3 | Securities Sold, Not yet Purchased	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, Fair Value Disclosure, Recurring	0
Level 3 | Common stock	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Level 3 | Investments in affiliates (A)	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	58,155,000
Level 3 | Options	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Liabilities, Fair Value Disclosure, Recurring	0
Level 3 | Derivatives	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, Fair Value Disclosure, Recurring	0
Liabilities, Fair Value Disclosure, Recurring	$0

INVESTMENTS_AND_FAIR_VALUE_Inv4

INVESTMENTS AND FAIR VALUE (Investment Company- Offsetting of Financial Assets and Derivative Assets) (Details) (Investment Company - consolidated VIEs, Investment Manager, USD $)	Sep. 30, 2014
Offsetting Assets [Line Items]	'
Gross Amount	$6,144,000
Gross Amounts Offset	-793,000
Net Amounts of Assets	5,351,000
Options	'
Offsetting Assets [Line Items]	'
Gross Amount	590,000
Gross Amounts Offset	0
Net Amounts of Assets	590,000
Derivatives	'
Offsetting Assets [Line Items]	'
Gross Amount	5,554,000
Gross Amounts Offset	-793,000
Net Amounts of Assets	4,761,000
Proceeds of cash collateral	$14,400,000

INVESTMENTS_AND_FAIR_VALUE_Inv5

INVESTMENTS AND FAIR VALUE (Investment Company- Offsetting of Financial Liabilities and Derivative Liabilities) (Details) (Investment Company - consolidated VIEs, Investment Manager, USD $)	9 Months Ended
	Sep. 30, 2014
Offsetting Liabilities [Line Items]	'
Gross Amount	$1,596,000
Gross Amounts Offset	-793,000
Net Amounts of Liabilities	803,000
Open options contract written at fair value (less than .1 million)	16,500,000
Call option expiration period	14,000,000
Open option contracts, expiration period	'1 year
Options	'
Offsetting Liabilities [Line Items]	'
Gross Amount	23,000
Gross Amounts Offset	0
Net Amounts of Liabilities	23,000
Options | Other Liabilities [Member]	'
Offsetting Liabilities [Line Items]	'
Open options contract written at fair value (less than .1 million)	100,000
Derivatives	'
Offsetting Liabilities [Line Items]	'
Gross Amount	1,573,000
Gross Amounts Offset	-793,000
Net Amounts of Liabilities	$780,000

INVESTMENTS_AND_FAIR_VALUE_Inv6

INVESTMENTS AND FAIR VALUE (Investment Company- Investments, Gains (Losses) and Generation) (Details) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Investment [Line Items]	'	'	'	'
Net unrealized gains (losses)	$16,845	$52	$11,321	$5,654
Total gains (losses)	-19,359	7,503	-26,235	45,578
Investment Company - consolidated VIEs	'	'	'	'
Investment [Line Items]	'	'	'	'
Net realized gains (losses)	-5,743	0	-8,744	0
Net unrealized gains (losses)	752	0	4,317	0
Total gains (losses)	-4,991	0	-4,427	0
Mark to fair value on investments and options | Investment Company - consolidated VIEs	'	'	'	'
Investment [Line Items]	'	'	'	'
Total gains (losses)	-2,076	0	-1,258	0
Mark to fair value on derivatives | Investment Company - consolidated VIEs	'	'	'	'
Investment [Line Items]	'	'	'	'
Total gains (losses)	($2,915)	$0	($3,169)	$0

DEBT_OBLIGATIONS_Schedule_of_D

DEBT OBLIGATIONS (Schedule of Debt) (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014
		Investment Manager	Investment Manager	Investment Manager	Investment Manager	Investment Manager	Investment Manager
				Revolving debt	Revolving debt	Revolving debt	Letter of credit subfacility
						LIBOR
DEBT OBLIGATIONS	'	'	'	'	'	'	'
Face Amount and Carrying Value	'	$75,000,000	$0	$75,000,000	$0	'	'
Final Stated Maturity	'	'	'	28-Feb-16	'	'	'
Contractual interest rate, spread (as a percent)	'	'	'	'	'	2.50%	'
Amount Available for Draws	'	'	'	72,332,000	'	'	'
Maximum borrowing amount	'	'	'	150,000,000	'	'	15,000,000
Amount utilized	'	'	'	'	'	'	2,700,000
Unused commitment fees (as a percent)	'	'	'	0.40%	'	'	'
Fair value of debt	$75,100,000	'	'	'	'	'	'

DEBT_OBLIGATIONS_Debt_Covenant

DEBT OBLIGATIONS (Debt Covenants) (Details) (Investment Manager, USD $)	Sep. 30, 2014
DEBT OBLIGATIONS	'
Assets under Management, Actual	$45,311,000,000
Consolidated Leverage Ratio, Actual	0.23
Consolidated Interest Coverage Ratio, Actual	112.12
Minimum	'
DEBT OBLIGATIONS	'
Assets under Management, Requirement	$25,000,000,000
Consolidated Interest Coverage Ratio, Requirement	4
Maximum	'
DEBT OBLIGATIONS	'
Consolidated Leverage Ratio, Requirement	2

DEBT_OBLIGATIONS_Narrative_Non

DEBT OBLIGATIONS (Narrative- Non-Investment Manager) (Details) (USD $)

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Jun. 04, 2014

Dec. 31, 2013

Jun. 04, 2014

Sep. 30, 2014

Sep. 30, 2014

Jun. 04, 2014

Sep. 30, 2014

Jun. 04, 2014

Jun. 04, 2014

Jun. 04, 2014

Jun. 04, 2014

Jun. 04, 2014

Sep. 30, 2014

Jun. 04, 2014

Jun. 04, 2014

Jun. 04, 2014

Sep. 30, 2014

Sep. 30, 2014

Jun. 04, 2014

Nov. 26, 2013

Nov. 26, 2013

Nov. 26, 2013

Jun. 04, 2014

Sep. 30, 2014

Sep. 03, 2013

Sep. 03, 2013

Sep. 03, 2013

Sep. 03, 2013

New Media Credit Agreement

New Media Credit Facility and GateHouse Facility

GateHouse Credit Facilities

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

New Media

New Media

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

New Media Credit Agreement

GateHouse Credit Facilities

GateHouse Credit Facilities

GateHouse Credit Facilities

GateHouse Credit Facilities

GateHouse Credit Facilities

Local Media Credit Facility

Local Media Credit Facility

Local Media Credit Facility

Local Media Credit Facility

Local Media Credit Facility

Incremental Term Loan

Incremental Facility

Incremental Facility

Revolving debt

Revolving debt

Revolving debt

Revolving debt

Swing Loans

Term Loan Facility

Term Loan Facility

Term Loan Facility

Term Loan Facility

Term Loan Facility

Maximum

Minimum

Term Loan A

Term Loan B

Revolving debt

Term Loan Facility

Revolving debt

Letter of credit subfacility

Swing Loans

commitment

Eurodollar Rate

Base Rate

Eurodollar Rate

Base Rate

Term Loan Facility

Term Loan Facility

DEBT OBLIGATIONS

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt principle amount

'

'

'

'

'

'

'

'

'

'

'

$25,000,000

'

'

'

'

'

'

'

'

'

$200,000,000

'

'

'

'

'

$25,000,000

$50,000,000

'

'

'

$33,000,000

'

'

'

Maximum borrowing amount

'

'

'

'

'

'

'

'

'

'

'

'

'

75,000,000

'

25,000,000

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

40,000,000

'

'

'

10,000,000

3,000,000

4,000,000

Revolving credit facility amount outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of new commitments that can be requested (1 or more)

'

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt obligations payable

'

'

'

'

232,275,000

'

232,275,000

'

'

0

'

'

'

'

'

'

'

'

'

'

'

200,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Original issuance discount

'

'

'

'

7,725,000

'

7,725,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.25%

4.25%

'

'

'

'

6.25%

5.25%

'

'

'

'

'

'

'

'

'

'

'

'

Variable interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

Difference between two credit facility yields, greater than 50 basis points

'

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Change in all-in yield, less than incremental yield

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Pledge of equity interest (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayment amount (as a percent of original principal amount)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Frequency of periodic payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'quarterly

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period after Agreement closing date that a prepayment premium is applied

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'6 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of excess cash flow to be paid - alternative 1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of excess cash flow to be paid - alternative 2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of excess cash flow to be paid - alternative 3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of excess cash flow to be paid - alternative 4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Leverage ratio - alternative 1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

'

'

'

'

'

Leverage ratio - alternative 2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.75

'

'

'

'

'

'

'

'

'

'

Leverage ratio - alternative 3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.75

'

'

'

'

'

'

'

'

'

'

'

Leverage ratio - alternative 4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.5

'

'

'

'

'

'

'

'

'

'

Leverage ratio - alternative 5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.5

'

'

'

'

'

'

'

'

'

'

'

Leverage ratio

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Difference between present value of cash flows under two credit facilities (less than 10%)

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred financing costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,700,000

'

'

'

'

'

'

'

'

1,900,000

'

'

'

'

'

Unamortized discount

'

'

'

'

'

'

'

'

'

'

6,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

900,000

'

'

'

'

'

'

'

'

'

Debt issuance fees and expenses

'

'

'

'

'

'

'

'

10,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss on extinguishment of debt

'

'

'

'

0

0

9,047,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance fee (as a percent)

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred finance costs

'

1,700,000

'

900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of debt

$75,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$240,000,000

'

'

'

'

DEBT_OBLIGATIONS_Payment_Sched

DEBT OBLIGATIONS (Payment Schedule) (Details) (Non-Investment Manager, USD $)	Sep. 30, 2014	Dec. 31, 2013
Non-Investment Manager	'	'
DEBT OBLIGATIONS	'	'
October 1, 2014 through December 31, 2014	$563,000	'
2015	2,250,000	'
2016	2,250,000	'
2017	2,813,000	'
2018	1,687,000	'
Thereafter	230,437,000	'
Debt obligations, including unamortized discount	240,000,000	'
Less: Original issue discount	7,725,000	'
Total debt obligations	$232,275,000	$0

INCOME_TAXES_AND_TAX_RELATED_P2

INCOME TAXES AND TAX RELATED PAYMENTS (Narrative) (Details) (USD $)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Line Items]	'	'	'	'	'
Income tax benefit (expense)	$6,140,000	$14,794,000	'	$18,638,000	$42,236,000
Investment Manager	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Excess tax benefits from delivery of RSUs	'	'	'	3,030,000	0
Income tax benefit (expense)	3,024,000	14,794,000	'	16,934,000	42,236,000
Deferred income tax expense (benefit)	-4,330,000	7,894,000	'	8,426,000	53,048,000
Current income tax benefit credited to paid-in capital, related to dividend equivalent payments on RSUs, as applicable, and distributions to Fortress Operating Group restricted partnership unit holders	'	'	'	600,000	'
Tax receivable agreement liability adjustment	4,036,000	0	'	4,036,000	7,739,000
Percentage of expected cash tax savings resulting from increase in tax basis deductions	'	'	'	85.00%	'
Payments pursuant to the tax receivable agreement	15,500,000	'	15,500,000	15,500,000	'
Investment Manager | Equity Method Investee	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Deferred income tax expense (benefit)	'	'	'	400,000	'
Investment Manager | Due to Change in Ownership and Other	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Deferred tax asset, change in amount	'	'	'	-11,400,000	'
Valuation allowance for deferred tax asset, change in amount	'	'	'	-2,400,000	'
Investment Manager | Due to Step Up in Tax Basis due to Share Exchanges	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Deferred tax asset, change in amount	'	'	'	49,000,000	'
Valuation allowance for deferred tax asset, change in amount	'	'	'	900,000	'
Tax receivable agreement liability adjustment	'	'	'	39,100,000	'
Investment Manager | RSUs	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Excess tax benefits from delivery of RSUs	'	'	'	3,000,000	'
Investment Manager | RSUs and RPUs	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Income tax benefit (expense)	'	'	'	'	25,100,000
Non-Investment Manager	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Income tax benefit (expense)	3,116,000	0	1,704,000	1,704,000	0
Deferred income tax expense (benefit)	3,116,000	'	1,704,000	1,704,000	0
Valuation allowance for deferred tax asset, change in amount	'	'	4,800,000	'	'
Operating loss carryforwards, state and local	102,000,000	'	102,000,000	102,000,000	'
Uncertain tax positions	1,100,000	'	1,100,000	1,100,000	'
Interest and penalties accrued	$300,000	'	$300,000	$300,000	'
State and Local Jurisdiction | Minimum	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Statue of limitations	'	'	'	'3 years	'
State and Local Jurisdiction | Maximum	'	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'	'
Statue of limitations	'	'	'	'6 years	'

INCOME_TAXES_AND_TAX_RELATED_P3

INCOME TAXES AND TAX RELATED PAYMENTS (Provision for Income Taxes) (Details) (USD $)	3 Months Ended		7 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Deferred	'	'	'	'	'
Total expense (benefit)	$6,140	$14,794	'	$18,638	$42,236
Investment Manager	'	'	'	'	'
Current	'	'	'	'	'
Federal income tax expense (benefit)	4,057	3,150	'	-395	-16,366
Foreign income tax expense (benefit)	2,358	2,038	'	6,966	4,942
State and local income tax expense (benefit)	939	1,712	'	1,937	612
Total current tax expense	7,354	6,900	'	8,508	-10,812
Deferred	'	'	'	'	'
Federal income tax expense (benefit)	-4,065	6,777	'	6,548	45,327
Foreign income tax expense (benefit)	432	-62	'	1,108	-22
State and local income tax expense (benefit)	-697	1,179	'	770	7,743
Deferred income tax expense (benefit)	-4,330	7,894	'	8,426	53,048
Total expense (benefit)	3,024	14,794	'	16,934	42,236
Non-Investment Manager	'	'	'	'	'
Current	'	'	'	'	'
Federal income tax expense (benefit)	0	'	0	'	'
State and local income tax expense (benefit)	0	'	0	'	'
Total current tax expense	0	'	0	'	'
Deferred	'	'	'	'	'
Federal income tax expense (benefit)	2,495	'	1,365	'	'
State and local income tax expense (benefit)	621	'	339	'	'
Deferred income tax expense (benefit)	3,116	'	1,704	1,704	0
Total expense (benefit)	$3,116	$0	$1,704	$1,704	$0

INCOME_TAXES_AND_TAX_RELATED_P4

INCOME TAXES AND TAX RELATED PAYMENTS (Tax Effect of Temporary Differences) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Less:	'	'
Deferred tax assets, net	$385,300	'
Investment Manager	'	'
Product Information [Line Items]	'	'
Total deferred tax assets	421,907	421,027
Less:	'	'
Valuation allowance	-26,726	-49,805
Deferred tax liabilities	-9,880	-16,696
Deferred tax assets, net	$385,301	$354,526

INCOME_TAXES_AND_TAX_RELATED_P5

INCOME TAXES AND TAX RELATED PAYMENTS (Changes in Deferred Tax Asset Valuation Allowance) (Details) (Investment Manager, USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified			Due to Change in Ownership [Member]	Due to Factors Other Than Change in Ownership [Member]
Deferred Tax Assets, Valuation Allowance [Roll Forward]	'	'	'	'
Valuation Allowance at December 31, 2013	$26,726	$49,805	'	'
Valuation allowance for deferred tax asset, change in amount	'	'	-1,472	-21,607
Valuation Allowance at September 30, 2014	$26,726	$49,805	'	'

INCOME_TAXES_AND_TAX_RELATED_P6

INCOME TAXES AND TAX RELATED PAYMENTS (Temporary Differences, Non-Investment Manager) (Details) (Non-Investment Manager, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Non-Investment Manager	'
Current deferred tax assets:	'
Definite and indefinite lived intangible assets	$78,605
Net operating losses	102,258
Other	25,337
Total deferred tax assets	206,200
Valuation allowance	-169,533
Deferred tax liabilities	-38,371
Deferred tax liabilities, net	($1,704)

RELATED_PARTY_TRANSACTIONS_AND2

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Investment Manager	'	'
Due from Affiliates	'	'
Management fees and incentive income	$92,081,000	$315,138,000
Expense reimbursements	28,404,000	35,779,000
Expense reimbursements - FCF	27,898,000	42,972,000
Dividends and distributions	324,000	405,000
Other	16,367,000	12,830,000
Total	165,074,000	407,124,000
Allowances for uncollectible management fees	12,200,000	12,200,000
Allowances for uncollectible expense reimbursements	6,500,000	6,300,000
Past due management fees receivable	33,600,000	'
Private equity general and administrative expenses advanced on behalf of certain Fortress Funds	12,300,000	'
Unreserved amount as percentage of NAV, both individually and in the aggregate	5.00%	'
Due to Affiliates	'	'
Principals - tax receivable agreement	284,265,000	241,006,000
Principals - Principal Performance Payments	20,016,000	45,524,000
Distributions payable on Fortress Operating Group units	0	5,160,000
Other	8,437,000	11,345,000
General partner liability	43,471,000	41,797,000
Total	356,189,000	344,832,000
Investment Manager | Private Equity Funds	'	'
Due from Affiliates	'	'
Management fees and incentive income	34,843,000	40,456,000
Expense reimbursements	1,332,000	2,599,000
Expense reimbursements - FCF	27,774,000	42,872,000
Dividends and distributions	0	0
Other	0	0
Total	63,949,000	85,927,000
Investment Manager | Permanent Capital Vehicles	'	'
Due from Affiliates	'	'
Management fees and incentive income	37,434,000	21,701,000
Expense reimbursements	4,723,000	4,905,000
Expense reimbursements - FCF	124,000	100,000
Dividends and distributions	324,000	405,000
Other	658,000	698,000
Total	43,263,000	27,809,000
Investment Manager | Liquid Hedge Funds	'	'
Due from Affiliates	'	'
Management fees and incentive income	842,000	89,400,000
Expense reimbursements	6,906,000	6,437,000
Expense reimbursements - FCF	0	0
Dividends and distributions	0	0
Other	0	0
Total	7,748,000	95,837,000
Investment Manager | Credit Hedge Funds	'	'
Due from Affiliates	'	'
Management fees and incentive income	1,483,000	144,749,000
Expense reimbursements	7,965,000	7,118,000
Expense reimbursements - FCF	0	0
Dividends and distributions	0	0
Other	0	0
Total	9,448,000	151,867,000
Investment Manager | Credit PE funds	'	'
Due from Affiliates	'	'
Management fees and incentive income	16,542,000	18,143,000
Expense reimbursements	7,322,000	14,656,000
Expense reimbursements - FCF	0	0
Dividends and distributions	0	0
Other	0	4,000
Total	23,864,000	32,803,000
Investment Manager | Logan Circle	'	'
Due from Affiliates	'	'
Management fees and incentive income	937,000	689,000
Expense reimbursements	156,000	64,000
Expense reimbursements - FCF	0	0
Dividends and distributions	0	0
Other	0	0
Total	1,093,000	753,000
Investment Manager | Other	'	'
Due from Affiliates	'	'
Management fees and incentive income	0	0
Expense reimbursements	0	0
Expense reimbursements - FCF	0	0
Dividends and distributions	0	0
Other	15,709,000	12,128,000
Total	15,709,000	12,128,000
New Media | Non-Investment Manager	'	'
Due from Affiliates	'	'
Management fees and incentive income	$2,000,000	'

RELATED_PARTY_TRANSACTIONS_AND3

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Non Controlling Interest in the Equity of the Registrant	'	'	'	'	'
Total	$587,315,000	'	$587,315,000	'	$789,838,000
Non-controlling Interest in the Income (Loss) of the Registrant	'	'	'	'	'
Fortress Operating Group units held by the Principals and one senior employee	9,581,000	57,221,000	55,143,000	104,653,000	'
Total	10,842,000	58,804,000	58,946,000	111,421,000	'
Schedule of Interest Computation	'	'	'	'	'
Fortress Operating Group net income (loss)	10,215,000	101,185,000	85,341,000	166,055,000	'
Less: Others' interests in net income (loss) of consolidated subsidiaries	-10,842,000	-58,804,000	-58,946,000	-111,421,000	'
Non-controlling interests in (income) loss - consolidated VIE	'	'	153,212,000	'	'
Net income (loss) attributable to Fortress	10,215,000	101,185,000	85,341,000	166,055,000	'
Fortress Operating Group net income (loss) attributable to the Principals and one senior employee	9,581,000	57,221,000	55,143,000	104,653,000	'
Changes in the Registrant's Equity due to Changes in Ownership in the Consolidated Operating Group Subsidiary	'	'	'	'	'
Net income (loss) attributable to Fortress	10,215,000	101,185,000	85,341,000	166,055,000	'
Class A Shares	'	'	'	'	'
Schedule of Interest Computation	'	'	'	'	'
Net income (loss) attributable to Fortress	4,438,000	42,381,000	38,594,000	54,634,000	'
Changes in the Registrant's Equity due to Changes in Ownership in the Consolidated Operating Group Subsidiary	'	'	'	'	'
Net income (loss) attributable to Fortress	4,438,000	42,381,000	38,594,000	54,634,000	'
Investment Manager	'	'	'	'	'
Other Related Party Transactions	'	'	'	'	'
Revenues from affiliates included in other revenues	'	'	2,000,000	1,300,000	'
Non Controlling Interest in the Equity of the Registrant	'	'	'	'	'
Fortress Operating Group units held by the Principals and one senior employee	519,780,000	'	519,780,000	'	725,424,000
Employee interests in majority owned and controlled fund advisor and general partner entities	65,277,000	'	65,277,000	'	62,381,000
Other	2,258,000	'	2,258,000	'	2,033,000
Total	587,315,000	'	587,315,000	'	789,838,000
Non-controlling Interest in the Income (Loss) of the Registrant	'	'	'	'	'
Fortress Operating Group units held by the Principals and one senior employee	9,581,000	57,221,000	55,143,000	104,653,000	'
Employee interests in majority owned and controlled fund advisor and general partner entities	1,063,000	1,647,000	3,578,000	6,756,000	'
Other	198,000	-64,000	225,000	12,000	'
Total	10,842,000	58,804,000	58,946,000	111,421,000	'
Schedule of Interest Computation	'	'	'	'	'
Less: Others' interests in net income (loss) of consolidated subsidiaries	-10,842,000	-58,804,000	-58,946,000	-111,421,000	'
Fortress Operating Group net income (loss) attributable to the Principals and one senior employee	9,581,000	57,221,000	55,143,000	104,653,000	'
Changes in the Registrant's Equity due to Changes in Ownership in the Consolidated Operating Group Subsidiary	'	'	'	'	'
Increase in Fortressbs shareholdersb equity for the conversion of Fortress Operating Group units by the Principals and one senior employee	0	0	0	10,143,000	'
Increase in Fortressbs shareholdersb equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs	273,000	3,062,000	5,049,000	12,550,000	'
Increase in Fortress's shareholders' equity for the public offering of Class A shares and repurchase of Class B shares and FOGUs	0	0	53,510,000	0	'
Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs	0	0	-101,156,000	0	'
Change from net income (loss) attributable to Fortress and transfers (to) from Principalsb and Othersb Interests	4,711,000	45,443,000	-4,003,000	77,327,000	'
Investment Manager | Fortress Operating Group portion of interests	'	'	'	'	'
Non Controlling Interest in the Equity of the Registrant	'	'	'	'	'
Fortress Operating Group units held by the Principals and one senior employee	519,780,000	'	519,780,000	'	725,424,000
Total	67,535,000	'	67,535,000	'	64,414,000
Non-controlling Interest in the Income (Loss) of the Registrant	'	'	'	'	'
Total	1,261,000	1,583,000	3,803,000	6,768,000	'
Schedule of Interest Computation	'	'	'	'	'
Fortress Operating Group net income (loss)	14,314,000	113,449,000	96,966,000	208,076,000	'
Less: Others' interests in net income (loss) of consolidated subsidiaries	-1,261,000	-1,583,000	-3,803,000	-6,768,000	'
Net income (loss) attributable to Fortress	18,118,000	111,866,000	105,362,000	201,308,000	'
Fortress Operating Group as a percent of total	52.90%	51.20%	52.30%	52.00%	'
Changes in the Registrant's Equity due to Changes in Ownership in the Consolidated Operating Group Subsidiary	'	'	'	'	'
Net income (loss) attributable to Fortress	18,118,000	111,866,000	105,362,000	201,308,000	'
Investment Manager | Class A Shares	'	'	'	'	'
Schedule of Interest Computation	'	'	'	'	'
Net income (loss) attributable to Fortress	4,438,000	42,381,000	38,594,000	54,634,000	'
Changes in the Registrant's Equity due to Changes in Ownership in the Consolidated Operating Group Subsidiary	'	'	'	'	'
Net income (loss) attributable to Fortress	4,438,000	42,381,000	38,594,000	54,634,000	'
Investment Manager | Senior Employee [Member]	'	'	'	'	'
Other Related Party Transactions	'	'	'	'	'
Advances made to senior employees	'	'	3,600,000	'	'
Number of employees who received advances	'	'	2	'	'
Number of employees who repaid advances	'	'	3	'	'
Advances repaid by senior employees	'	'	3,400,000	'	'
Investment Manager | LIBOR | Senior Employee [Member]	'	'	'	'	'
Other Related Party Transactions	'	'	'	'	'
Interest rate on advances to employees	4.00%	'	4.00%	'	'
Investment Manager | Investment Company - consolidated VIEs	'	'	'	'	'
Non Controlling Interest in the Equity of the Registrant	'	'	'	'	'
Total	58,426,000	'	58,426,000	'	0
Non-controlling Interest in the Income (Loss) of the Registrant	'	'	'	'	'
Total	-9,000	0	-9,000	0	'
Schedule of Interest Computation	'	'	'	'	'
Less: Others' interests in net income (loss) of consolidated subsidiaries	9,000	0	9,000	0	'
Investment Manager | Investment Company - consolidated VIEs | Fortress Operating Group portion of interests	'	'	'	'	'
Schedule of Interest Computation	'	'	'	'	'
Redeemable Non-controlling interests in (income) loss of Investment Company - consolidated VIE	2,042,000	0	1,885,000	0	'
Non-controlling interests in (income) loss - consolidated VIE	9,000	0	9,000	0	'
Non-Investment Manager	'	'	'	'	'
Non Controlling Interest in the Equity of the Registrant	'	'	'	'	'
Total	479,516,000	'	479,516,000	'	0
Non-controlling Interest in the Income (Loss) of the Registrant	'	'	'	'	'
Total	-3,014,000	0	-10,305,000	0	'
Schedule of Interest Computation	'	'	'	'	'
Less: Others' interests in net income (loss) of consolidated subsidiaries	3,014,000	0	10,305,000	0	'
Non-Investment Manager | Investment Company - consolidated VIEs | Fortress Operating Group portion of interests	'	'	'	'	'
Schedule of Interest Computation	'	'	'	'	'
Non-controlling interests in (income) loss - consolidated VIE	$3,014,000	$0	$10,305,000	$0	'

RELATED_PARTY_TRANSACTIONS_AND4

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Details 3) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	employee
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Fortress Operating Group equity	$1,715,721	$1,614,905
Less: Others' interests in equity of consolidated subsidiaries	-587,315	-789,838
Total Fortress shareholder's equity in Fortress Operating Group	590,464	825,067
Number of Senior Employees Holding Ownership Interest in Operating Group Restricted Partnership Units	1	'
Class B Shares	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Common stock, shares outstanding	226,331,513	249,534,372
Class A Shares	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Common stock, shares outstanding	208,004,183	240,741,920
Fortress Operating Group portion of interests	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Total Fortress shareholder's equity in Fortress Operating Group	997,218	1,425,287
Investment Manager	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Less: Others' interests in equity of consolidated subsidiaries	-587,315	-789,838
Equity of Fortress Operating Group units held by Principals and one senior employee	519,780	725,424
Number of Senior Employees Holding Ownership Interest in Operating Group Restricted Partnership Units	1	'
Shares owned by registrant (as a percent)	47.90%	49.10%
Investment Manager | Class A and Class B Shares	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Common stock, shares outstanding	434,335,696	490,276,292
Investment Manager | Fortress Operating Group portion of interests	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Fortress Operating Group equity	1,602,695	1,489,701
Less: Others' interests in equity of consolidated subsidiaries	-67,535	-64,414
Non-controlling interests in equity - Consolidated VIE	-58,426	0
Fortress Operating Group as a percent of the total (B)	52.10%	50.90%
Equity of Fortress Operating Group units held by Principals and one senior employee	519,780	725,424
Investment Manager | Fortress Operating Group portion of interests | Class B Shares	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Common stock, shares outstanding	226,331,513	249,534,372
Investment Manager | Fortress Operating Group portion of interests | Class A Shares	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Common stock, shares outstanding	208,004,183	240,741,920
Non-Investment Manager	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Less: Others' interests in equity of consolidated subsidiaries	-479,516	0
Non-Investment Manager | Fortress Operating Group portion of interests	'	'
Non Controlling Interest in the Equity of the Consolidated Subsidiary	'	'
Non-controlling interests in equity - Consolidated VIE	($479,516)	$0

EQUITYBASED_AND_OTHER_COMPENSA2

EQUITY-BASED AND OTHER COMPENSATION (Details) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Feb. 28, 2014

Jan. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Newcastle

New Residential

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Principal Performance Payments

Principal Performance Payments

Principal Performance Payments

Principal Performance Payments

Class A Shares

Class A Shares

Class A Shares

Class A Shares

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

RSUs

Restricted shares

Restricted shares

Restricted shares

Restricted shares

Restricted shares

Restricted shares

Employees

Employees

Employees

Employees

Non-Employees

Non-Employees

Non-Employees

Non-Employees

Principal Performance Payments

General and Administrative

General and Administrative

Director

Director

Director

Director

Employees

Equity-Based Compensation

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity-based compensation, per below

'

'

$11,251,000

$8,671,000

$29,584,000

$28,648,000

$4,109,000

$3,602,000

$11,069,000

$10,290,000

$497,000

$0

$497,000

$0

'

'

$6,082,000

$5,069,000

$17,446,000

$18,357,000

$563,000

$0

$572,000

$1,000

'

$300,000

$600,000

$0

$0

$0

$0

Profit-sharing expense, per below

'

'

53,383,000

29,540,000

159,131,000

194,091,000

4,784,000

3,726,000

17,839,000

24,097,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discretionary bonuses

'

'

60,341,000

52,033,000

173,062,000

155,121,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other payroll, taxes and benefits

'

'

62,274,000

56,213,000

182,105,000

161,731,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total compensation and benefit expense

'

'

187,249,000

146,457,000

543,882,000

539,591,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares and units

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding at the beginning of the period (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,228,466

'

'

'

14,500

'

'

'

'

'

'

955,744

'

Issued (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,200,000

3,200,000

'

'

8,340,227

'

'

'

237,498

'

'

'

'

'

'

89,390

'

Transfers (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-141,423

'

'

'

-141,423

'

'

'

'

'

'

0

'

Converted (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-4,530,852

'

'

'

-7,437

'

'

'

'

'

'

0

'

Forfeited (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-1,468,490

'

'

'

0

'

'

'

'

'

'

0

'

Balance outstanding at the end of the period (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,427,928

'

21,427,928

'

385,984

'

385,984

'

'

'

'

1,045,134

'

1,045,134

'

Weighted average grant date estimated fair value per share or unit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance outstanding at the beginning of the period (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$4.14

'

'

'

$3.12

'

'

'

'

'

'

$5.41

'

Issued (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$7.19

'

'

'

$7.18

'

'

'

'

'

'

$7.38

'

Transfers (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5.25

'

'

'

$5.46

'

'

'

'

'

'

$0

'

Converted (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.87

'

'

'

$3.28

'

'

'

'

'

'

$0

'

Forfeited (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.89

'

'

'

$0

'

'

'

'

'

'

$0

'

Balance outstanding at the end of the period (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5.39

'

$5.39

'

$6.47

'

$6.47

'

'

'

'

$5.58

'

$5.58

'

Additional disclosures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation expense on non-vested equity based awards

'

'

$62,700,000

'

$62,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average recognition period (in years)

'

'

'

'

'2 years 3 months 16 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Awards expected to be granted on the basis of year-to-date performance (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,100,000

'

'

'

'

'

'

Unvested options forfeited (in shares)

2,477

7,434

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

EQUITYBASED_AND_OTHER_COMPENSA3

EQUITY-BASED AND OTHER COMPENSATION EQUITY-BASED AND OTHER COMPENSATION (Details 2) (USD $)	9 Months Ended	1 Months Ended
	Sep. 30, 2014	Feb. 28, 2014	Jan. 31, 2014
		Investment Manager	Investment Manager
		RSUs	RSUs
Equity-Based Compensation	'	'	'
Issued (in shares)	'	3,200,000	3,200,000
Issued (value)	$186,551,000	$25,800,000	'
RSUs granted (in shares)	'	'	$22,800,000
Vesting period (in years)	'	'3 years	'3 years

EQUITYBASED_AND_OTHER_COMPENSA4

EQUITY-BASED AND OTHER COMPENSATION (Details 3) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Deferred and equity related compensation	'	'	'	'
Equity-based compensation	$11,251	$8,671	$29,584	$28,648
Profit Sharing Expense	53,383	29,540	159,131	194,091
Principal Performance Payments	'	'	'	'
Deferred and equity related compensation	'	'	'	'
Equity-based compensation	4,109	3,602	11,069	10,290
Profit Sharing Expense	4,784	3,726	17,839	24,097
Total equity-based compensation and profit sharing expense accrual	'	'	28,908	'
Private Equity Business | Principal Performance Payments	'	'	'	'
Deferred and equity related compensation	'	'	'	'
Equity-based compensation	'	'	0	'
Profit Sharing Expense	'	'	2,958	'
Total equity-based compensation and profit sharing expense accrual	'	'	2,958	'
Liquid Hedge Funds	'	'	'	'
Deferred and equity related compensation	'	'	'	'
Profit Sharing Expense	10,256	-3,578	18,663	35,458
Liquid Hedge Funds | Principal Performance Payments	'	'	'	'
Deferred and equity related compensation	'	'	'	'
Equity-based compensation	'	'	2,756	'
Profit Sharing Expense	'	'	1,250	'
Total equity-based compensation and profit sharing expense accrual	'	'	4,006	'
Credit Business | Principal Performance Payments	'	'	'	'
Deferred and equity related compensation	'	'	'	'
Equity-based compensation	'	'	8,313	'
Profit Sharing Expense	'	'	13,631	'
Total equity-based compensation and profit sharing expense accrual	'	'	$21,944	'

EQUITYBASED_AND_OTHER_COMPENSA5

EQUITY-BASED AND OTHER COMPENSATION (Details 4) (Investment Manager, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	$53,383	$29,540	$159,131	$194,091
Principal Performance Payments	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	4,784	3,726	17,839	24,097
Private Equity Funds	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	0	0	303	2,135
Permanent Capital Vehicles	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	-1,751	-459	7,334	7,757
Liquid Hedge Funds	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	10,256	-3,578	18,663	35,458
Liquid Hedge Funds | Principal Performance Payments	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	'	'	1,250	'
Credit Hedge Funds	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	13,675	20,371	49,008	71,074
Credit PE Funds	'	'	'	'
Recognized Profit Sharing Compensation	'	'	'	'
Profit Sharing Expense	$26,419	$9,480	$65,984	$53,570

EQUITYBASED_AND_OTHER_COMPENSA6

EQUITY-BASED AND OTHER COMPENSATION (Details 5) (Non-Investment Manager, USD $)	9 Months Ended	0 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014	Mar. 14, 2014
		Restricted shares
Class of Stock [Line Items]	'	'
Employee contribution percent of eligible compensation (up to 100%)	100.00%	'
Employer contributions	$0.40	'
Issued (in shares)	'	15,870
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments other than options, granted in period, fair value	'	$0.20

EARNINGS_PER_SHARE_AND_DISTRIB2

EARNINGS PER SHARE AND DISTRIBUTIONS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
	employee		category
			employee
Weighted average shares outstanding	'	'	'	'
Class A shares outstanding	206,881,050	237,470,346	208,079,111	231,019,933
Fully vested restricted Class A share units with dividend equivalent rights	88,508	982,225	1,789,026	2,821,011
Fully vested restricted Class A shares	1,045,134	952,016	1,006,503	909,641
Total weighted average shares outstanding	208,014,692	239,404,587	210,874,640	234,750,585
Basic net income (loss) per Class A share	'	'	'	'
Net income (loss) attributable to Class A shareholders	$10,215	$101,185	$85,341	$166,055
Dilution in earnings due to RPUs treated as a participating security of Fortress Operating Group and fully vested restricted Class A share units with dividend equivalent rights treated as outstanding Fortress Operating Group units	0	0	0	0
Dividend equivalents declared on non-vested restricted Class A shares and restricted Class A share units	-686	-777	-1,100	-590
Net income (loss) available to Class A shareholders	3,752	41,604	37,494	54,044
Total weighted average shares outstanding	208,014,692	239,404,587	210,874,640	234,750,585
Basic net income (loss) per Class A share (in dollars per share)	$0.02	$0.17	$0.18	$0.23
Weighted average shares outstanding	'	'	'	'
Class A shares outstanding	206,881,050	237,470,346	208,079,111	231,019,933
Fully vested restricted Class A share units with dividend equivalent rights	88,508	982,225	1,789,026	2,821,011
Fully vested restricted Class A shares	1,045,134	952,016	1,006,503	909,641
Fortress Operating Group units and fully vested RPUs exchangeable into Class A shares	0	249,534,372	232,790,917	252,789,561
Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments)	4,810,232	2,771,059	4,146,536	2,067,969
Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments)	7,967,787	10,381,148	9,207,414	9,954,355
Total weighted average shares outstanding	220,792,711	502,091,166	457,019,507	499,562,470
Diluted net income (loss) per Class A share	'	'	'	'
Net income (loss) attributable to Class A shareholders	10,215	101,185	85,341	166,055
Dilution in earnings due to RPUs treated as a participating security of Fortress Operating Group and fully vested restricted Class A share units with dividend equivalent rights treated as outstanding Fortress Operating Group units	0	0	0	0
Dividend equivalents declared on non-vested restricted Class A shares and restricted Class A share units	-686	-777	-1,100	-590
Add back Principalsb and othersb interests in loss of Fortress Operating Group, net of assumed corporate income taxes at enacted rates, attributable to Fortress Operating Group units and fully vested RPUs exchangeable into Class A shares (1)	0	18,906	38,712	52,551
Net income (loss) available to Class A shareholders	3,752	60,510	76,206	106,595
Total weighted average shares outstanding	220,792,711	502,091,166	457,019,507	499,562,470
Diluted net income (loss) per Class A share (in dollars per share)	$0.02	$0.12	$0.17	$0.21
Number of general categories of potentially dilutive equity instruments	'	'	2	'
Number of Senior Employees Holding Ownership Interest in Operating Group Restricted Partnership Units	1	'	1	'
Number of Units Along with Class B Share Exchangeable for Each Class a Share	1	'	1	'
Number of Shares Exchanged for Each Unit Along with Class B Share	1	'	1	'
Share Units	13,592,852	14,766,136	13,167,782	15,761,068
Class A Shares	'	'	'	'
Basic net income (loss) per Class A share	'	'	'	'
Net income (loss) attributable to Class A shareholders	4,438	42,381	38,594	54,634
Diluted net income (loss) per Class A share	'	'	'	'
Net income (loss) attributable to Class A shareholders	$4,438	$42,381	$38,594	$54,634

EARNINGS_PER_SHARE_AND_DISTRIB3

EARNINGS PER SHARE AND DISTRIBUTIONS (Details 2) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

1 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Feb. 13, 2014

Mar. 31, 2014

Restricted Class A shares (directors)

Restricted Class A shares (directors)

Restricted Class A shares (directors)

Restricted Class A shares (directors)

Restricted Class A shares (directors)

Restricted Class A share units fully vested (employees)

Restricted Class A share units fully vested (employees)

Restricted Class A share units fully vested (employees)

Restricted Class A share units fully vested (employees)

Restricted Class A share units fully vested (employees)

Restricted Class A share units nonvested (employees)

Restricted Class A share units nonvested (employees)

Restricted Class A share units nonvested (employees)

Restricted Class A share units nonvested (employees)

Restricted Class A share units nonvested (employees)

Fortress Operating Group RPU holders

Fortress Operating Group RPU holders

Fortress Operating Group RPU holders

Fortress Operating Group RPU holders

Fortress Operating Group units (Principals and one senior employee)

Fortress Operating Group units (Principals and one senior employee)

Fortress Operating Group units (Principals and one senior employee)

Fortress Operating Group units (Principals and one senior employee)

Fortress Operating Group units (Principals and one senior employee)

Class A Shares

Class A Shares

Class A Shares

Class A Shares

Class A Shares

Nomura Investment Managers U.S.A. [Member]

Common stock

Class A Shares

Dividend paying shares and units

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average dividend paying shares and units

441,860,189

494,683,588

450,682,054

492,299,975

'

1,045,134

952,016

1,006,503

909,641

'

88,508

982,225

1,789,026

2,821,011

'

7,513,984

5,744,629

7,016,497

4,759,829

'

0

0

0

3,255,189

226,331,513

249,534,372

232,790,917

249,534,372

'

206,881,050

237,470,346

208,079,111

231,019,933

'

'

'

Dividend paying shares and units

441,953,364

'

441,953,364

'

495,515,532

1,045,134

'

1,045,134

'

955,744

103,684

'

103,684

'

6,704

7,513,984

'

7,513,984

'

5,232,536

'

'

'

'

226,331,513

'

226,331,513

'

249,534,372

206,959,049

'

206,959,049

'

239,786,176

'

'

Number of Units Along with Class B Share Exchangeable for Each Class a Share

1

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Shares Exchanged for Each Unit Along with Class B Share

1

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares Acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

60,568,275

'

Purchase price, amount to be paid

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$363,400,000

'

Contingent Consideration, Liability

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,000,000

'

Liabilities, Fair Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30,000,000

'

Public offering (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

23,202,859

'

'

'

23,202,859

Proceeds from issuance of common stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$186,600,000

EARNINGS_PER_SHARE_AND_DISTRIB4

EARNINGS PER SHARE AND DISTRIBUTIONS (Details 3) (USD $)	9 Months Ended			0 Months Ended		9 Months Ended		0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jul. 30, 2014	Apr. 30, 2014	Sep. 30, 2014	Jul. 30, 2014	Oct. 30, 2014	Oct. 30, 2014
	employee	Restricted Class A share units	Fortress Operating Group unit holders	Class A Shares	Class A Shares	Class A Shares	Class A Shares	Subsequent event	Subsequent event
								Class A Shares	Class A Shares
Dividends and distributions	'	'	'	'	'	'	'	'	'
Declared in Prior Year, Paid in Current Year	$5,160	$0	$5,160	'	'	$0	'	'	'
Declared and Paid	181,133	3,436	92,516	56,000	17,200	85,181	'	17,200	'
Declared but not yet Paid	0	0	0	'	'	0	'	'	'
Total	$181,133	$3,436	$92,516	'	'	$85,181	'	'	'
Number of Senior Employees Holding Ownership Interest in Operating Group Restricted Partnership Units	1	'	'	'	'	'	'	'	'
Cash dividend declared (in dollars per share)	'	'	'	$0.26	$0.08	'	'	'	'
Cash dividend declared, base (in dollars per share)	'	'	'	'	'	'	$0.08	'	$0.08
Cash dividend declared, special (in dollars per share)	'	'	'	'	'	'	$0.18	'	'

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	9 Months Ended			7 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
	Investment Manager	Investment Manager	Non-Investment Manager	Non-Investment Manager	Non-Investment Manager	Non-Investment Manager	Non-Investment Manager
				New Media	New Media	New Media	New Media
						Minimum	Maximum
General Partner Liability	'	'	'	'	'	'	'
Amount of negative equity recorded	$43,500,000	'	'	'	'	'	'
Private Equity Fund and Credit PE Fund Capital Commitments	'	'	'	'	'	'	'
Aggregate remaining capital commitments to certain of the Fortress Funds	149,100,000	'	'	'	'	'	'
Minimum Future Rentals	'	'	'	'	'	'	'
October 1, 2014 to December 31, 2014	6,543,000	'	1,726,000	'	'	'	'
2015	25,836,000	'	6,103,000	'	'	'	'
2016	23,404,000	'	4,228,000	'	'	'	'
2017	3,432,000	'	4,116,000	'	'	'	'
2018	937,000	'	3,199,000	'	'	'	'
2019	371,000	'	1,253,000	'	'	'	'
Thereafter	0	'	3,376,000	'	'	'	'
Total	60,523,000	'	24,001,000	'	'	'	'
Rent expense under operating leases	$17,500,000	$17,900,000	'	$4,200,000	'	'	'
Typical lease term	'	'	'	'	'	'1 year	'10 years
Leases term	'	'	'	'	'99 years	'	'

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Fund II

Fund II

Fund II

Fund II

Fund II

Fund III

FRID

Permanent Capital Vehicles

Maximum

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Impairment determination

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Impairment on direct and indirect investments

$2,635,000

$380,000

$2,695,000

$1,107,000

'

'

'

'

'

'

'

'

$2,700,000

'

'

'

'

'

Impairment on digital currency (Bitcoin)

'

'

'

'

'

'

'

'

'

'

'

'

'

-11,515,000

0

-11,515,000

0

'

Unrealized losses on certain investments that have not been recorded as impairment for DE purposes

4,600,000

'

4,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized gains on investments

572,300,000

'

572,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of net reversal of clawback reserve for DE purpose

'

'

11,375,000

'

'

1,334,000

'

1,334,000

'

0

10,041,000

'

'

'

'

'

'

'

Clawback Reserve on Incentive Income for DE Purposes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net Intrinsic Clawback (B)

45,108,000

'

45,108,000

'

0

'

'

0

'

45,108,000

0

'

'

'

'

'

'

'

Periods in Intrinsic Clawback

'

'

'

'

'

'

'

'

'

'2340 days

'

'

'

'

'

'

'

'

Prior Year End Inception-to-Date Net DE Reserve

'

'

56,483,000

'

'

1,334,000

'

1,334,000

'

45,108,000

10,041,000

'

'

'

'

'

'

'

Current Year-to-Date Gross DE Reserve (Reversal)

'

'

-18,446,000

'

0

'

-1,544,000

-1,999,000

-3,367,000

0

-16,447,000

'

'

'

'

'

'

'

Current Year-to-Date Net DE Reserve (Reversal)

'

'

-11,375,000

'

'

-1,334,000

'

-1,334,000

'

0

-10,041,000

'

'

'

'

'

'

'

Inception-to-Date Net DE Reserve

45,108,000

'

45,108,000

'

0

'

'

0

'

45,108,000

0

'

'

'

'

'

'

'

Excess of the recorded DE reserve over the net intrinsic clawback

'

'

'

'

'

1,300,000

'

'

'

'

'

'

'

'

'

'

'

'

Embedded Incentive Income [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred Incentive Income Undistributed Gross

'

'

'

'

'

'

'

'

'

'

'

'

'

1,025,600,000

'

1,025,600,000

'

'

Deferred Incentive Income Undistributed Net of Intrinsic Clawback

958,700,000

'

958,700,000

'

'

'

'

'

'

'

'

'

'

958,739,000

'

958,739,000

'

696,333,000

Gross undistributed incentive income recognized in distributable earnings

20,817,000

-5,973,000

77,095,000

185,858,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gross Additional Distributable Earnings on Exercise of in Money Options

'

'

'

'

'

'

'

'

'

'

'

64,000,000

'

'

'

'

'

'

Net Additional Distributable Earnings on Exercise of in Money Options

'

'

'

'

'

'

'

'

'

'

'

$55,700,000

'

'

'

'

'

'

SEGMENT_REPORTING_Details_2

SEGMENT REPORTING (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment revenues	'	'	'	'
Management fees	$149,952,000	$136,642,000	$448,714,000	$397,454,000
Incentive income	87,788,000	42,239,000	269,573,000	356,792,000
Segment Reporting Revenue	237,740,000	178,881,000	718,287,000	754,246,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	71,341,000	57,134,000	247,479,000	318,161,000
Fund management distributable earnings (loss)	66,558,000	53,410,000	229,640,000	294,064,000
Pre-tax distributable earnings (loss)	54,322,000	65,038,000	322,617,000	313,172,000
Total segment assets	2,385,542,000	'	2,385,542,000	'
Cash	322,400,000	'	322,400,000	'
Deferred tax asset, net	385,300,000	'	385,300,000	'
Private Equity Funds	'	'	'	'
Segment revenues	'	'	'	'
Management fees	33,638,000	33,810,000	104,552,000	99,566,000
Incentive income	0	1,544,000	2,854,000	9,181,000
Segment Reporting Revenue	33,638,000	35,354,000	107,406,000	108,747,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	18,677,000	24,095,000	69,286,000	72,883,000
Fund management distributable earnings (loss)	18,677,000	24,095,000	69,286,000	72,883,000
Pre-tax distributable earnings (loss)	18,701,000	30,717,000	163,851,000	80,095,000
Total segment assets	788,798,000	'	788,798,000	'
Permanent Capital Vehicles	'	'	'	'
Segment revenues	'	'	'	'
Management fees	17,934,000	14,215,000	50,434,000	45,996,000
Incentive income	15,936,000	6,099,000	40,676,000	7,299,000
Segment Reporting Revenue	33,870,000	20,314,000	91,110,000	53,295,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	6,708,000	7,996,000	27,232,000	20,801,000
Fund management distributable earnings (loss)	6,534,000	7,107,000	24,274,000	19,912,000
Pre-tax distributable earnings (loss)	7,133,000	7,403,000	25,901,000	20,828,000
Total segment assets	147,344,000	'	147,344,000	'
Liquid Hedge Funds	'	'	'	'
Segment revenues	'	'	'	'
Management fees	33,733,000	30,634,000	103,373,000	79,380,000
Incentive income	1,339,000	-27,387,000	2,627,000	97,324,000
Segment Reporting Revenue	35,072,000	3,247,000	106,000,000	176,704,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	4,334,000	-11,923,000	19,841,000	86,543,000
Fund management distributable earnings (loss)	4,051,000	-10,730,000	18,591,000	77,890,000
Pre-tax distributable earnings (loss)	-5,006,000	-9,769,000	12,191,000	80,665,000
Total segment assets	222,841,000	'	222,841,000	'
Credit Hedge Funds	'	'	'	'
Segment revenues	'	'	'	'
Management fees	28,796,000	25,481,000	84,129,000	75,435,000
Incentive income	28,846,000	44,194,000	102,977,000	140,840,000
Segment Reporting Revenue	57,642,000	69,675,000	187,106,000	216,275,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	26,872,000	32,844,000	87,095,000	100,678,000
Fund management distributable earnings (loss)	22,862,000	28,940,000	74,854,000	86,845,000
Pre-tax distributable earnings (loss)	17,968,000	30,567,000	72,626,000	91,715,000
Total segment assets	121,747,000	'	121,747,000	'
Credit PE Funds	'	'	'	'
Segment revenues	'	'	'	'
Management fees	23,571,000	23,669,000	71,898,000	71,218,000
Incentive income	41,489,000	17,789,000	120,261,000	102,148,000
Segment Reporting Revenue	65,060,000	41,458,000	192,159,000	173,366,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	16,410,000	7,442,000	49,217,000	44,861,000
Fund management distributable earnings (loss)	16,094,000	7,318,000	47,827,000	44,139,000
Pre-tax distributable earnings (loss)	18,044,000	8,436,000	54,021,000	50,391,000
Total segment assets	260,029,000	'	260,029,000	'
Logan Circle	'	'	'	'
Segment revenues	'	'	'	'
Management fees	12,280,000	8,833,000	34,328,000	25,859,000
Incentive income	178,000	0	178,000	0
Segment Reporting Revenue	12,458,000	8,833,000	34,506,000	25,859,000
Fund management distributable earnings (loss) before Principal Performance Payments (B)	-1,660,000	-3,320,000	-5,192,000	-7,605,000
Fund management distributable earnings (loss)	-1,660,000	-3,320,000	-5,192,000	-7,605,000
Pre-tax distributable earnings (loss)	-1,804,000	-1,758,000	-4,476,000	-6,043,000
Total segment assets	60,561,000	'	60,561,000	'
Unallocated	'	'	'	'
Segment revenues	'	'	'	'
Management fees	0	0	0	0
Incentive income	0	0	0	0
Segment Reporting Revenue	0	0	0	0
Fund management distributable earnings (loss) before Principal Performance Payments (B)	0	0	0	0
Fund management distributable earnings (loss)	0	0	0	0
Pre-tax distributable earnings (loss)	-714,000	-558,000	-1,497,000	-4,479,000
Total segment assets	$784,222,000	'	$784,222,000	'

SEGMENT_REPORTING_Details_3

SEGMENT REPORTING (Details 3) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Reconciling items between segment measures and GAAP measures:	'	'	'	'
Fund management distributable earnings	$66,558	$53,410	$229,640	$294,064
Investment income (loss)	-11,405	12,412	95,347	23,870
Interest expense	-831	-784	-2,370	-4,762
Pre-tax distributable earnings	54,322	65,038	322,617	313,172
Adjust incentive income	'	'	'	'
Incentive income received from private equity funds and credit PE funds, subject to contingent repayment	-41,706	-17,790	-121,333	-107,963
Incentive income received from third parties, subject to contingent repayment	-565	0	-652	0
Incentive income accrued from private equity funds and credit PE funds, not subject to contingent repayment	13,416	15,883	66,778	50,262
Incentive income from hedge funds, subject to annual performance achievement	-20,817	5,973	-77,095	-185,858
Incentive income received from the sale of shares related to options	-6,833	-1,921	-8,318	-1,921
Reserve for clawback, gross (see discussion above)	'	'	-18,446	'
Adjust incentive income	-56,505	601	-142,619	-248,847
Adjust other income	'	'	'	'
Distributions of earnings from equity method investees	-5,540	-3,685	-61,890	-12,529
Earnings (losses) from equity method investees	37,635	57,532	74,850	116,748
Gains (losses) on options in equity method investees	-23,127	3,488	-28,999	27,233
Gains (losses) on other investments	15,585	-3,178	-31,046	9,358
Impairment of investments (see discussion above)	2,635	380	2,695	1,107
Adjust income from the receipt of options	1,743	0	3,346	36,470
Adjust other income	32,131	54,537	-38,070	178,387
Adjust employee, Principal and director compensation	'	'	'	'
Adjust employee, Principal and director equity-based compensation expense (including Castle options assigned)	-1,307	-6,415	-22,438	-34,769
Adjust employee portion of incentive income from private equity funds accrued prior to the realization of incentive income	-4,945	555	-1,771	1,210
Adjust employee, Principal and director compensation	-6,252	-5,860	-24,209	-33,559
Adjust amortization of intangible assets and impairment of goodwill and intangible assets	-12	-12	-34	-34
Adjust non-controlling interests related to Fortress Operating Group units	-9,581	-57,221	-55,143	-104,653
Adjust consolidated Investment Company income (loss) allocable to Class A Shareholders	-3,200	0	-2,974	0
Total adjustments	-49,884	-22,657	-284,023	-258,538
Net income (loss) attributable to Class A shareholders	10,215	101,185	85,341	166,055
Non-controlling Interests in Income (Loss)	10,842	58,804	58,946	111,421
Net Income (Loss)	10,215	101,185	85,341	166,055
Investment Manager	'	'	'	'
Adjust incentive income	'	'	'	'
Incentive income accrued from private equity funds and credit PE funds, not subject to contingent repayment	'	'	66,778	50,262
Adjust other income	'	'	'	'
Equity method (earnings) losses earned by Fortress in the Investment Company	38,928	60,508	81,750	125,515
Adjust employee, Principal and director compensation	'	'	'	'
Adjust non-controlling interests related to Fortress Operating Group units	-9,581	-57,221	-55,143	-104,653
Adjust tax receivable agreement liability	-4,036	0	-4,036	-7,739
Adjust income taxes - Investment Manager	-2,972	-14,702	-16,919	-42,093
Non-controlling Interests in Income (Loss)	10,842	58,804	58,946	111,421
Non-Investment Manager	'	'	'	'
Adjust employee, Principal and director compensation	'	'	'	'
Adjust consolidated Non-Investment Manager income (loss) allocable to Class A Shareholders	543	0	-19	0
Non-controlling Interests in Income (Loss)	-3,014	0	-10,305	0
Investment Company - consolidated VIEs	'	'	'	'
Adjust other income	'	'	'	'
Equity method (earnings) losses earned by Fortress in the Investment Company	3,200	0	2,974	0
Adjust employee, Principal and director compensation	'	'	'	'
Redeemable non-controlling interests in Income (Loss) of Consolidated Investment Company	-2,042	0	-1,885	0
Investment Company - consolidated VIEs | Investment Manager	'	'	'	'
Adjust other income	'	'	'	'
Equity method (earnings) losses earned by Fortress in the Investment Company	'	'	-4,427	'
Adjust employee, Principal and director compensation	'	'	'	'
Non-controlling Interests in Income (Loss)	-9	0	-9	0
Redeemable non-controlling interests in Income (Loss) of Consolidated Investment Company	-2,042	0	-1,885	0
Class A Shares	'	'	'	'
Adjust employee, Principal and director compensation	'	'	'	'
Net income (loss) attributable to Class A shareholders	4,438	42,381	38,594	54,634
Class A Shares | Investment Manager	'	'	'	'
Adjust employee, Principal and director compensation	'	'	'	'
Net income (loss) attributable to Class A shareholders	4,438	42,381	38,594	54,634
Fund II	'	'	'	'
Adjust incentive income	'	'	'	'
Reserve for clawback, gross (see discussion above)	$0	($1,544)	($1,999)	($3,367)

SEGMENT_REPORTING_SEGMENT_REPO

SEGMENT REPORTING SEGMENT REPORTING (Details 4) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'
Total segment assets	$2,385,542	'
Adjust equity investments from segment carrying amount	-38,699	'
Adjust investments gross of employees' and others' portion	34,460	'
Adjust intangible assets to cost	-22,790	'
Accrued incentive income subject to annual performance achievement	-77,095	'
Total assets (GAAP)	3,242,545	2,674,432
Non-Investment Manager	'	'
Segment Reporting Information [Line Items]	'	'
Less: Fortress's investment in and receivables from	-6,474	'
Total assets (GAAP)	822,977	0
Investment Manager	'	'
Segment Reporting Information [Line Items]	'	'
Total assets (GAAP)	2,419,568	2,674,432
Investment Company - consolidated VIEs | Investment Manager	'	'
Segment Reporting Information [Line Items]	'	'
Less: Fortress's investment in and receivables from	-47,582	'
Total assets (GAAP)	$192,206	'

SEGMENT_REPORTING_Details_5

SEGMENT REPORTING (Details 5) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment revenues	'	'	'	'
Segment revenues	$237,740	$178,881	$718,287	$754,246
Adjust management fees	252	313	979	565
Adjust incentive income	-56,505	601	-142,909	-248,847
Adjust income from the receipt of options	1,743	0	3,346	36,470
Adjust other revenues (including expense reimbursements)	56,771	52,224	167,704	157,014
Total revenues (GAAP)	403,760	232,019	1,141,239	699,448
Non-Investment Manager	'	'	'	'
Segment revenues	'	'	'	'
Total revenues (GAAP)	165,061	0	397,315	0
Non-Investment Manager | Investment Company - consolidated VIEs	'	'	'	'
Segment revenues	'	'	'	'
Adjust management fees	-1,498	0	-3,727	0
Investment Manager	'	'	'	'
Segment revenues	'	'	'	'
Total revenues (GAAP)	238,699	232,019	743,924	699,448
Investment Manager | Investment Company - consolidated VIEs	'	'	'	'
Segment revenues	'	'	'	'
Adjust management fees	0	0	0	0
Total revenues (GAAP)	$196	$0	$244	$0

SEGMENT_REPORTING_Details_6

SEGMENT REPORTING (Details 6) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	$4,985	$3,489	$14,301	$10,060
Amortization	12	12	34	34
Total depreciation and amortization	4,997	3,501	14,335	10,094
Private Equity Funds	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	396	393	1,176	1,132
Amortization	0	0	0	0
Total depreciation and amortization	396	393	1,176	1,132
Permanent Capital Vehicles	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	208	159	604	432
Amortization	0	0	0	0
Total depreciation and amortization	208	159	604	432
Liquid Hedge Funds	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	2,027	582	5,254	1,561
Amortization	0	0	0	0
Total depreciation and amortization	2,027	582	5,254	1,561
Credit Hedge Funds	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	1,280	1,416	4,058	4,173
Amortization	0	0	0	0
Total depreciation and amortization	1,280	1,416	4,058	4,173
Credit PE Funds	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	304	89	779	238
Amortization	0	0	0	0
Total depreciation and amortization	304	89	779	238
Logan Circle	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	83	68	252	192
Amortization	12	12	34	34
Total depreciation and amortization	95	80	286	226
Corporate	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Depreciation	687	782	2,178	2,332
Amortization	0	0	0	0
Total depreciation and amortization	$687	$782	$2,178	$2,332

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (New Senior)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Oct. 30, 2014
	property	Minimum	Maximum	Subsequent event
Subsequent events	'	'	'	'
Annual management fee (percent)	'	'	'	1.50%
Number of properties managed	22	'	'	'
Management fee (percent)	'	6.00%	7.00%	'

CONSOLIDATING_FINANCIAL_INFORM2

CONSOLIDATING FINANCIAL INFORMATION (Details) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Senior employee

Investment Manager

Investment Manager

Investment Manager

Non-Investment Manager

Non-Investment Manager

Non-Investment Manager

Fortress Operating Group Consolidated

Fortress Operating Group Consolidated

Fortress Operating Group Consolidated

Fortress Operating Group Consolidated

FOE II LP

FOE II LP

FOE II LP

FOE II LP

Certain Consolidated Entities

Certain Consolidated Entities

Certain Consolidated Entities

Certain Consolidated Entities

Fortress Operating Group Eliminations

Fortress Operating Group Eliminations

Fortress Operating Group Eliminations

Fortress Operating Group Eliminations

Fortress Investment Group LLC Consolidated (Other than FOG)

Fortress Investment Group LLC Consolidated (Other than FOG)

Fortress Investment Group LLC Consolidated (Other than FOG)

Fortress Investment Group LLC Consolidated (Other than FOG)

Elimination Adjustments

Elimination Adjustments

Elimination Adjustments

Elimination Adjustments

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

Investment Company - consolidated VIEs

employee

Investment Manager

Non-Investment Manager

Investment Manager

Non-Investment Manager

Investment Manager

Non-Investment Manager

Investment Manager

Non-Investment Manager

Investment Manager

Non-Investment Manager

Investment Manager

Non-Investment Manager

Investment Manager

Investment Manager

Investment Manager

Fortress Operating Group Consolidated

FOE II LP

Certain Consolidated Entities

Fortress Operating Group Eliminations

Fortress Investment Group LLC Consolidated (Other than FOG)

Elimination Adjustments

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Investment Manager

Assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash and cash equivalents

$483,825,000

$364,583,000

$311,114,000

$104,242,000

'

$332,158,000

$364,583,000

$311,114,000

$135,063,000

$0

$0

$330,980,000

$362,620,000

$330,980,000

$0

$678,000

$1,336,000

$678,000

$0

$151,667,000

$0

$0

$135,063,000

$0

$0

$0

$0

$500,000

$627,000

$500,000

$0

$0

$0

$0

$0

$16,604,000

$0

$0

$0

$0

$16,604,000

$0

$0

$0

Due from affiliates

'

'

'

'

'

165,074,000

407,124,000

'

'

'

'

'

'

167,338,000

'

'

'

2,498,000

'

'

'

0

'

'

'

-4,762,000

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Investments

'

'

'

'

'

1,099,955,000

1,253,266,000

'

'

'

'

'

'

1,148,279,000

'

'

'

2,175,000

'

'

'

0

'

'

'

-50,499,000

'

'

'

477,438,000

'

'

'

-477,438,000

'

'

'

'

'

'

'

'

'

'

Investments in options

'

'

'

'

'

70,251,000

104,338,000

'

'

'

'

'

'

73,458,000

'

'

'

0

'

'

'

0

'

'

'

-3,207,000

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Deferred tax asset, net

385,300,000

'

'

'

'

385,301,000

354,526,000

'

'

'

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

385,301,000

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Other assets

'

'

'

'

'

174,623,000

190,595,000

'

116,893,000

0

'

'

'

162,127,000

0

'

'

2,200,000

0

'

'

0

116,893,000

'

'

0

0

'

'

10,296,000

0

'

'

0

0

920,000

0

'

0

0

920,000

0

0

0

Receivables from brokers and counterparties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40,825,000

0

'

0

0

40,825,000

0

0

0

Investments, at fair value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

133,857,000

0

'

0

0

133,857,000

0

0

0

Fixed assets, net

'

'

'

'

'

'

'

'

290,481,000

0

'

'

'

'

0

'

'

'

0

'

'

'

290,481,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

Goodwill

'

'

'

'

'

'

'

'

125,407,000

0

'

'

'

'

0

'

'

'

0

'

'

'

125,407,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

Intangible assets, net

'

'

'

'

'

'

'

'

155,133,000

0

'

'

'

'

0

'

'

'

0

'

'

'

155,133,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

Total assets (GAAP)

3,242,545,000

2,674,432,000

'

'

'

2,419,568,000

2,674,432,000

'

822,977,000

0

'

1,882,182,000

'

1,882,182,000

0

7,551,000

'

7,551,000

0

1,015,183,000

'

192,206,000

822,977,000

-58,468,000

'

-58,468,000

0

873,535,000

'

873,535,000

0

-477,438,000

'

-477,438,000

0

192,206,000

'

'

'

'

'

'

'

'

Liabilities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accrued compensation and benefits

'

'

'

'

'

269,060,000

417,309,000

'

'

'

'

'

'

266,221,000

'

'

'

2,839,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Due to affiliates

'

'

'

'

'

356,189,000

344,832,000

'

'

'

'

'

'

71,924,000

'

'

'

2,273,000

'

'

'

0

'

'

'

-2,273,000

'

'

'

284,265,000

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Deferred incentive income

'

'

'

'

'

283,684,000

247,556,000

'

'

'

'

'

'

283,684,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

'

Debt obligations payable

'

'

'

'

'

75,000,000

0

'

232,275,000

0

'

'

'

75,000,000

0

'

'

0

0

'

'

0

232,275,000

'

'

0

0

'

'

0

0

'

'

0

0

'

'

'

'

'

'

'

'

'

Other liabilities

'

'

'

'

'

116,113,000

49,830,000

'

72,179,000

0

'

'

'

117,215,000

'

'

'

92,000

'

'

'

0

'

'

'

0

'

'

'

-1,194,000

'

'

'

0

'

1,477,000

0

'

0

0

1,980,000

-503,000

0

0

Due to brokers and counterparties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,577,000

0

'

0

0

12,577,000

0

0

0

Securities sold not yet purchased, at fair value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

37,258,000

0

'

0

0

37,258,000

0

0

0

Deferred revenue

'

'

'

'

'

'

'

'

36,125,000

0

'

'

'

'

0

'

'

'

0

'

'

'

36,125,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

Accrued expenses and other liabilities

'

'

'

'

'

'

'

'

72,179,000

'

'

'

'

'

0

'

'

'

0

'

'

'

74,165,000

'

'

'

-1,986,000

'

'

'

0

'

'

'

0

'

'

'

'

'

'

'

'

'

Total Liabilities

1,491,937,000

1,059,527,000

'

'

'

1,151,358,000

1,059,527,000

'

340,579,000

0

'

814,044,000

'

814,044,000

0

5,204,000

'

5,204,000

0

394,380,000

'

51,815,000

342,565,000

-4,762,000

'

-2,776,000

-1,986,000

283,071,000

'

283,071,000

0

0

'

0

0

'

'

'

'

'

'

'

'

'

Commitments and Contingencies

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Redeemable Non-controlling Interests, Investment Company - consolidated VIE

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

34,887,000

0

'

0

0

0

34,887,000

0

0

Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Paid-in capital

2,004,828,000

2,112,720,000

'

'

'

'

'

'

'

'

'

5,741,427,000

'

'

'

5,597,000

'

'

'

635,997,000

'

'

'

-638,194,000

'

'

'

2,004,828,000

'

'

'

-5,744,827,000

'

'

'

'

'

'

'

'

'

'

'

'

Retained earnings (accumulated deficit)

-1,412,494,000

-1,286,131,000

'

'

'

'

'

'

'

'

'

-4,734,622,000

'

'

'

-3,250,000

'

'

'

-15,194,000

'

'

'

11,659,000

'

'

'

-1,412,494,000

'

'

'

4,741,407,000

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated other comprehensive income (loss)

-1,870,000

-1,522,000

'

'

'

'

'

'

'

'

'

-6,202,000

'

'

'

0

'

'

'

0

'

'

'

0

'

'

'

-1,870,000

'

'

'

6,202,000

'

'

'

'

'

'

'

'

'

'

'

'

Total Fortress shareholdersb equity

590,464,000

825,067,000

'

'

'

'

'

'

'

'

'

1,000,603,000

'

'

'

2,347,000

'

'

'

620,803,000

'

'

'

-626,535,000

'

'

'

590,464,000

'

'

'

-997,218,000

'

'

'

'

'

'

'

'

'

'

'

'

Non-controlling interests

587,315,000

789,838,000

'

'

'

587,315,000

789,838,000

'

479,516,000

0

'

67,535,000

'

'

0

0

'

'

0

0

'

'

0

0

'

'

479,516,000

0

'

'

0

519,780,000

'

'

0

58,426,000

0

'

0

0

0

58,426,000

0

0

Total Equity

1,715,721,000

1,614,905,000

'

'

'

'

'

'

'

'

'

1,068,138,000

'

'

'

2,347,000

'

'

'

620,803,000

'

'

'

-88,593,000

'

'

'

590,464,000

'

'

'

-477,438,000

'

'

'

'

'

'

'

'

'

'

'

'

Total Liabilities and Equity

$3,242,545,000

$2,674,432,000

'

'

'

'

'

'

'

'

'

$1,882,182,000

'

'

'

$7,551,000

'

'

'

$1,015,183,000

'

'

'

($58,468,000)

'

'

'

$873,535,000

'

'

'

($477,438,000)

'

'

'

'

'

'

'

'

'

'

'

'

Number of senior employees whose net income (loss) is attributable to interests in FOG and is included into the Net Income (loss) attributable to Class A Shareholders

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

CONSOLIDATING_FINANCIAL_INFORM3

CONSOLIDATING FINANCIAL INFORMATION (Details 2) (USD $)	3 Months Ended		7 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'	'
Total revenues (GAAP)	$403,760	$232,019	'	$1,141,239	$699,448
Expenses	'	'	'	'	'
Total Expenses	397,947	184,051	'	1,084,312	654,511
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	16,355	115,979	'	103,979	208,291
Income tax benefit (expense)	-6,140	-14,794	'	-18,638	-42,236
Net Income (Loss)	10,215	101,185	'	85,341	166,055
Non-controlling Interests in Income (Loss)	10,842	58,804	'	58,946	111,421
Net income (loss) attributable to Class A shareholders	10,215	101,185	'	85,341	166,055
Senior employee	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Number of senior employees whose net income (loss) is attributable to interests in FOG and is included into the Net Income (loss) attributable to Class A Shareholders	'	'	'	1	'
Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	133,674	121,593	'	397,200	388,957
Management fees: non-affiliates	16,774	15,361	'	52,112	45,531
Incentive income: affiliates	30,941	40,934	'	125,634	103,176
Incentive income: non-affiliates	343	1,907	'	1,030	4,770
Expense reimbursements: affiliates	50,600	49,301	'	153,448	149,308
Expense reimbursements: non-affiliates	4,869	1,904	'	9,931	4,752
Other revenues (affiliate portion disclosed in Note 7)	1,302	1,019	'	4,325	2,954
Total revenues (GAAP)	238,699	232,019	'	743,924	699,448
Expenses	'	'	'	'	'
Compensation and benefits	187,249	146,457	'	543,882	539,591
General, administrative and other	40,855	33,315	'	120,646	99,970
Depreciation and amortization	4,997	3,501	'	14,335	10,094
Interest expense	916	778	'	2,554	4,856
Total Expenses	234,483	184,051	'	682,102	654,511
Other Income (Loss)	'	'	'	'	'
Gains (losses)	-19,359	7,503	'	-26,235	45,578
Tax receivable agreement liability adjustment	-4,036	0	'	-4,036	-7,739
Earnings (losses) from equity method investees	38,928	60,508	'	81,750	125,515
Total Other Income (Loss)	10,542	68,011	'	47,052	163,354
Income tax benefit (expense)	-3,024	-14,794	'	-16,934	-42,236
Non-controlling Interests in Income (Loss)	10,842	58,804	'	58,946	111,421
Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	96,761	0	'	236,434	0
Circulation	49,803	0	'	118,049	0
Commercial printing and other	18,497	0	'	42,832	0
Total revenues (GAAP)	165,061	0	'	397,315	0
Expenses	'	'	'	'	'
Operating costs	93,716	0	'	225,249	0
General, administrative and other	54,375	0	'	130,900	0
Depreciation and amortization	10,854	0	'	26,201	0
Interest expense	4,519	0	'	10,813	0
Loss on extinguishment of debt	0	0	'	-9,047	0
Total Expenses	163,464	0	'	402,210	0
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	-3,116	0	-1,704	-1,704	0
Non-controlling Interests in Income (Loss)	-3,014	0	'	-10,305	0
Fortress Operating Group Consolidated	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	721,389	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	651,439	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	123,045	'
Income tax benefit (expense)	'	'	'	-9,530	'
Net Income (Loss)	'	'	'	113,515	'
Non-controlling Interests in Income (Loss)	'	'	'	3,803	'
Net income (loss) attributable to Class A shareholders	'	'	'	113,515	'
Fortress Operating Group Consolidated | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	400,189	'
Management fees: non-affiliates	'	'	'	51,855	'
Incentive income: affiliates	'	'	'	125,634	'
Incentive income: non-affiliates	'	'	'	1,030	'
Expense reimbursements: affiliates	'	'	'	130,459	'
Expense reimbursements: non-affiliates	'	'	'	7,877	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	4,345	'
Total revenues (GAAP)	'	'	'	721,389	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	515,821	'
General, administrative and other	'	'	'	118,959	'
Depreciation and amortization	'	'	'	14,282	'
Interest expense	'	'	'	2,377	'
Total Expenses	'	'	'	651,439	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	-25,681	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	78,776	'
Total Other Income (Loss)	'	'	'	53,095	'
Income tax benefit (expense)	'	'	'	-9,530	'
Fortress Operating Group Consolidated | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	0	'
Circulation	'	'	'	0	'
Commercial printing and other	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
FOE II LP	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	29,001	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	29,825	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	-824	'
Income tax benefit (expense)	'	'	'	10	'
Net Income (Loss)	'	'	'	-814	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Net income (loss) attributable to Class A shareholders	'	'	'	-814	'
FOE II LP | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	3,701	'
Management fees: non-affiliates	'	'	'	257	'
Incentive income: affiliates	'	'	'	0	'
Incentive income: non-affiliates	'	'	'	0	'
Expense reimbursements: affiliates	'	'	'	22,989	'
Expense reimbursements: non-affiliates	'	'	'	2,054	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	0	'
Total revenues (GAAP)	'	'	'	29,001	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	28,061	'
General, administrative and other	'	'	'	1,688	'
Depreciation and amortization	'	'	'	53	'
Interest expense	'	'	'	23	'
Total Expenses	'	'	'	29,825	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Total Other Income (Loss)	'	'	'	0	'
Income tax benefit (expense)	'	'	'	10	'
FOE II LP | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	0	'
Circulation	'	'	'	0	'
Commercial printing and other	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Certain Consolidated Entities	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	397,559	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	406,622	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	-13,490	'
Income tax benefit (expense)	'	'	'	-1,704	'
Net Income (Loss)	'	'	'	-15,194	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Net income (loss) attributable to Class A shareholders	'	'	'	-15,194	'
Certain Consolidated Entities | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	0	'
Management fees: non-affiliates	'	'	'	0	'
Incentive income: affiliates	'	'	'	0	'
Incentive income: non-affiliates	'	'	'	0	'
Expense reimbursements: affiliates	'	'	'	0	'
Expense reimbursements: non-affiliates	'	'	'	0	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	0	'
Total revenues (GAAP)	'	'	'	244	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Total Expenses	'	'	'	685	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Total Other Income (Loss)	'	'	'	-4,427	'
Income tax benefit (expense)	'	'	'	0	'
Certain Consolidated Entities | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	236,434	'
Circulation	'	'	'	118,049	'
Commercial printing and other	'	'	'	42,832	'
Total revenues (GAAP)	'	'	'	397,315	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	225,249	'
General, administrative and other	'	'	'	134,627	'
Depreciation and amortization	'	'	'	26,201	'
Interest expense	'	'	'	10,813	'
Loss on extinguishment of debt	'	'	'	-9,047	'
Total Expenses	'	'	'	405,937	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	-1,704	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Fortress Operating Group Eliminations	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	-6,710	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	-3,749	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	-541	'
Income tax benefit (expense)	'	'	'	0	'
Net Income (Loss)	'	'	'	-541	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Net income (loss) attributable to Class A shareholders	'	'	'	-541	'
Fortress Operating Group Eliminations | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	-6,690	'
Management fees: non-affiliates	'	'	'	0	'
Incentive income: affiliates	'	'	'	0	'
Incentive income: non-affiliates	'	'	'	0	'
Expense reimbursements: affiliates	'	'	'	0	'
Expense reimbursements: non-affiliates	'	'	'	0	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	-20	'
Total revenues (GAAP)	'	'	'	-6,710	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	-22	'
Total Expenses	'	'	'	-22	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	-554	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	2,974	'
Total Other Income (Loss)	'	'	'	2,420	'
Income tax benefit (expense)	'	'	'	0	'
Fortress Operating Group Eliminations | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	0	'
Circulation	'	'	'	0	'
Commercial printing and other	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	0	'
General, administrative and other	'	'	'	-3,727	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Total Expenses	'	'	'	-3,727	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	-10,305	'
Fortress Investment Group LLC Consolidated (Other than FOG)	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	175	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	46,008	'
Income tax benefit (expense)	'	'	'	-7,414	'
Net Income (Loss)	'	'	'	38,594	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Net income (loss) attributable to Class A shareholders	'	'	'	38,594	'
Fortress Investment Group LLC Consolidated (Other than FOG) | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	0	'
Management fees: non-affiliates	'	'	'	0	'
Incentive income: affiliates	'	'	'	0	'
Incentive income: non-affiliates	'	'	'	0	'
Expense reimbursements: affiliates	'	'	'	0	'
Expense reimbursements: non-affiliates	'	'	'	0	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	0	'
General, administrative and other	'	'	'	-1	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	176	'
Total Expenses	'	'	'	175	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	-4,036	'
Earnings (losses) from equity method investees	'	'	'	50,219	'
Total Other Income (Loss)	'	'	'	46,183	'
Income tax benefit (expense)	'	'	'	-7,414	'
Fortress Investment Group LLC Consolidated (Other than FOG) | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	0	'
Circulation	'	'	'	0	'
Commercial printing and other	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Intercompany Eliminations	'	'	'	'	'
Revenues	'	'	'	'	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Income (Loss) Before Income Taxes	'	'	'	-50,219	'
Income tax benefit (expense)	'	'	'	0	'
Net Income (Loss)	'	'	'	-50,219	'
Non-controlling Interests in Income (Loss)	'	'	'	55,143	'
Net income (loss) attributable to Class A shareholders	'	'	'	-50,219	'
Intercompany Eliminations | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Management fees: affiliates	'	'	'	0	'
Management fees: non-affiliates	'	'	'	0	'
Incentive income: affiliates	'	'	'	0	'
Incentive income: non-affiliates	'	'	'	0	'
Expense reimbursements: affiliates	'	'	'	0	'
Expense reimbursements: non-affiliates	'	'	'	0	'
Other revenues (affiliate portion disclosed in Note 7)	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Compensation and benefits	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	-50,219	'
Total Other Income (Loss)	'	'	'	-50,219	'
Income tax benefit (expense)	'	'	'	0	'
Intercompany Eliminations | Non-Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Advertising	'	'	'	0	'
Circulation	'	'	'	0	'
Commercial printing and other	'	'	'	0	'
Total revenues (GAAP)	'	'	'	0	'
Expenses	'	'	'	'	'
Operating costs	'	'	'	0	'
General, administrative and other	'	'	'	0	'
Depreciation and amortization	'	'	'	0	'
Interest expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Total Expenses	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Income tax benefit (expense)	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Investment Company - consolidated VIEs	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Earnings (losses) from equity method investees	3,200	0	'	2,974	0
Redeemable noncontrolling interests	-2,042	0	'	-1,885	0
Investment Company - consolidated VIEs | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	196	0	'	244	0
Total revenues (GAAP)	196	0	'	244	0
Expenses	'	'	'	'	'
Other	466	0	'	685	0
Other Income (Loss)	'	'	'	'	'
Gains (losses)	-4,991	0	'	-4,427	0
Earnings (losses) from equity method investees	'	'	'	-4,427	'
Non-controlling Interests in Income (Loss)	-9	0	'	-9	0
Redeemable noncontrolling interests	-2,042	0	'	-1,885	0
Investment Company - consolidated VIEs | Fortress Operating Group Consolidated | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	0	'
Expenses	'	'	'	'	'
Other	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Redeemable noncontrolling interests	'	'	'	0	'
Investment Company - consolidated VIEs | FOE II LP | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	0	'
Expenses	'	'	'	'	'
Other	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Redeemable noncontrolling interests	'	'	'	0	'
Investment Company - consolidated VIEs | Certain Consolidated Entities | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	244	'
Expenses	'	'	'	'	'
Other	'	'	'	685	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	-4,427	'
Earnings (losses) from equity method investees	'	'	'	-4,427	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Redeemable noncontrolling interests	'	'	'	0	'
Investment Company - consolidated VIEs | Fortress Operating Group Eliminations | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	0	'
Expenses	'	'	'	'	'
Other	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	-9	'
Redeemable noncontrolling interests	'	'	'	-1,885	'
Investment Company - consolidated VIEs | Fortress Investment Group LLC Consolidated (Other than FOG) | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	0	'
Expenses	'	'	'	'	'
Other	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Redeemable noncontrolling interests	'	'	'	0	'
Investment Company - consolidated VIEs | Intercompany Eliminations | Investment Manager	'	'	'	'	'
Revenues	'	'	'	'	'
Interest and divided income	'	'	'	0	'
Expenses	'	'	'	'	'
Other	'	'	'	0	'
Other Income (Loss)	'	'	'	'	'
Gains (losses)	'	'	'	0	'
Earnings (losses) from equity method investees	'	'	'	0	'
Non-controlling Interests in Income (Loss)	'	'	'	0	'
Redeemable noncontrolling interests	'	'	'	0	'
Class A Shares	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	4,438	42,381	'	38,594	54,634
Class A Shares | Investment Manager	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	4,438	42,381	'	38,594	54,634
Class A Shares | Fortress Operating Group Consolidated	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	109,712	'
Class A Shares | FOE II LP	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	-814	'
Class A Shares | Certain Consolidated Entities	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	-15,194	'
Class A Shares | Fortress Operating Group Eliminations	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	11,658	'
Class A Shares | Fortress Investment Group LLC Consolidated (Other than FOG)	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	38,594	'
Class A Shares | Intercompany Eliminations	'	'	'	'	'
Other Income (Loss)	'	'	'	'	'
Net income (loss) attributable to Class A shareholders	'	'	'	($105,362)	'

CONSOLIDATING_FINANCIAL_INFORM4

CONSOLIDATING FINANCIAL INFORMATION (Details 3) (USD $)	3 Months Ended		7 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	$10,215	$101,185	'	$85,341	$166,055
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Deferred incentive income	-13,416	-15,883	'	-66,778	-50,262
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	79,661	332,508
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	23,845	'
Net cash provided by (used in) investing activities	'	'	'	331,569	214,658
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	-291,988	-340,294
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	119,242	206,872
Cash and Cash Equivalents, Beginning of Period	'	'	'	364,583	104,242
Cash and Cash Equivalents, End of Period	483,825	311,114	483,825	483,825	311,114
Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	4,997	3,501	'	14,335	10,094
Other amortization and accretion (included in interest expense)	'	'	'	585	704
(Earnings) losses from equity method investees	-38,928	-60,508	'	-81,750	-125,515
Distributions of earnings from equity method investees	'	'	'	78,337	53,576
(Gains) losses	19,359	-7,503	'	26,235	-45,578
Deferred incentive income	'	'	'	-66,778	-50,262
Deferred tax (benefit) expense	-4,330	7,894	'	8,426	53,048
Options received from affiliates	'	'	'	-3,346	-36,470
Tax receivable agreement liability adjustment	4,036	0	'	4,036	7,739
Equity-based compensation	'	'	'	29,584	28,648
Options in affiliates granted to employees	'	'	'	759	7,757
Other	'	'	'	-653	633
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	-11,197	-88,276
Other assets	'	'	'	32,307	1,950
Accrued compensation and benefits	'	'	'	-81,405	204,718
Due to affiliates	'	'	'	-21,685	5,737
Deferred incentive income	'	'	'	99,553	105,753
Other liabilities	'	'	'	36,437	32,197
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	-21,487	-25,885
Distributions of capital from equity method investees	'	'	'	368,373	257,829
Purchase of securities	'	'	'	-14,936	-19,460
Proceeds from sale of equity securities	'	'	'	83,039	9,951
Purchase of fixed assets	'	'	'	-7,631	-7,777
Purchase of software and technology-related assets	'	'	'	-25,976	0
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	-50,000	-149,453
Borrowings under debt obligations	'	'	'	125,000	0
Proceeds from public offering	'	'	'	186,551	0
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	0	'
Repurchase of shares and RSUs	'	'	'	-363,410	'
Capital contributions (distributions)	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	-88,617	-43,168
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	600	391
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	-152,686	-145,697
Excess tax benefits from delivery of RSUs	'	'	'	3,030	0
Payment of debt issuance costs	'	'	'	0	-2,367
Cash and Cash Equivalents, Beginning of Period	'	'	'	364,583	'
Cash and Cash Equivalents, End of Period	332,158	311,114	332,158	332,158	311,114
Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	10,854	0	'	26,201	0
Other amortization and accretion (included in interest expense)	'	'	'	708	0
Deferred tax (benefit) expense	3,116	'	1,704	1,704	0
Loss on extinguishment of debt	'	'	'	5,949	0
Other	'	'	'	462	0
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	239	0
Deferred revenue	'	'	'	-439	0
Accrued expenses and other liabilities	'	'	'	-1,016	0
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	-2,550	0
Existing cash on consolidation date	'	'	'	23,845	0
Acquisitions, net of cash acquired	'	'	'	-71,822	0
Other	'	'	'	714	0
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	-185,989	0
Borrowings under debt obligations	'	'	'	239,840	0
Proceeds from public offering	'	'	'	116,130	0
Dividends and dividend equivalents paid	'	'	'	-8,069	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	-185,989	'
Payment of debt issuance costs	'	'	'	-2,505	0
Cash and Cash Equivalents, Beginning of Period	'	'	'	0	'
Cash and Cash Equivalents, End of Period	135,063	0	135,063	135,063	0
Fortress Operating Group Consolidated	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	113,515	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	166,473	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	0	'
Net cash provided by (used in) investing activities	'	'	'	331,329	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	-529,442	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	-31,640	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	362,620	'
Cash and Cash Equivalents, End of Period	330,980	'	330,980	330,980	'
Fortress Operating Group Consolidated | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	14,282	'
Other amortization and accretion (included in interest expense)	'	'	'	585	'
(Earnings) losses from equity method investees	'	'	'	-78,776	'
Distributions of earnings from equity method investees	'	'	'	78,337	'
(Gains) losses	'	'	'	25,681	'
Deferred incentive income	'	'	'	-66,778	'
Deferred tax (benefit) expense	'	'	'	1,012	'
Options received from affiliates	'	'	'	-6,310	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Equity-based compensation	'	'	'	29,584	'
Options in affiliates granted to employees	'	'	'	759	'
Other	'	'	'	-653	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	-14,610	'
Other assets	'	'	'	36,179	'
Accrued compensation and benefits	'	'	'	-81,959	'
Due to affiliates	'	'	'	-21,855	'
Deferred incentive income	'	'	'	99,553	'
Other liabilities	'	'	'	37,927	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	-71,540	'
Distributions of capital from equity method investees	'	'	'	368,373	'
Purchase of securities	'	'	'	-14,936	'
Proceeds from sale of equity securities	'	'	'	83,039	'
Purchase of fixed assets	'	'	'	-7,631	'
Purchase of software and technology-related assets	'	'	'	-25,976	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	-50,000	'
Borrowings under debt obligations	'	'	'	125,000	'
Proceeds from public offering	'	'	'	'	'
Repurchase of Class B shares	'	'	'	0	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	-33,664	'
Repurchase of shares and RSUs	'	'	'	-363,260	'
Capital contributions (distributions)	'	'	'	33,664	'
Dividends and dividend equivalents paid	'	'	'	-89,096	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	600	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	-152,686	'
Excess tax benefits from delivery of RSUs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	330,980	'	330,980	330,980	'
Fortress Operating Group Consolidated | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	0	'
Deferred revenue	'	'	'	0	'
Accrued expenses and other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	0	'
Acquisitions, net of cash acquired	'	'	'	0	'
Other	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Payment of debt issuance costs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
FOE II LP	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	-814	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	-508	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	0	'
Net cash provided by (used in) investing activities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	-150	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	-658	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	1,336	'
Cash and Cash Equivalents, End of Period	678	'	678	678	'
FOE II LP | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	53	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
(Earnings) losses from equity method investees	'	'	'	0	'
Distributions of earnings from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Options received from affiliates	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Equity-based compensation	'	'	'	0	'
Options in affiliates granted to employees	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	-634	'
Other assets	'	'	'	-1,761	'
Accrued compensation and benefits	'	'	'	554	'
Due to affiliates	'	'	'	2,064	'
Deferred incentive income	'	'	'	0	'
Other liabilities	'	'	'	30	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	0	'
Distributions of capital from equity method investees	'	'	'	0	'
Purchase of securities	'	'	'	0	'
Proceeds from sale of equity securities	'	'	'	0	'
Purchase of fixed assets	'	'	'	0	'
Purchase of software and technology-related assets	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	0	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Repurchase of Class B shares	'	'	'	0	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	0	'
Repurchase of shares and RSUs	'	'	'	-150	'
Capital contributions (distributions)	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Excess tax benefits from delivery of RSUs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	678	'	678	678	'
FOE II LP | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	0	'
Deferred revenue	'	'	'	0	'
Accrued expenses and other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	0	'
Acquisitions, net of cash acquired	'	'	'	0	'
Other	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Payment of debt issuance costs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Certain Consolidated Entities	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	-15,194	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	-82,668	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	23,845	'
Net cash provided by (used in) investing activities	'	'	'	-49,813	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	284,148	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	151,667	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	0	'
Cash and Cash Equivalents, End of Period	151,667	'	151,667	151,667	'
Certain Consolidated Entities | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
(Earnings) losses from equity method investees	'	'	'	0	'
Distributions of earnings from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Options received from affiliates	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Equity-based compensation	'	'	'	0	'
Options in affiliates granted to employees	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	0	'
Other assets	'	'	'	0	'
Accrued compensation and benefits	'	'	'	0	'
Due to affiliates	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	0	'
Distributions of capital from equity method investees	'	'	'	0	'
Purchase of securities	'	'	'	0	'
Proceeds from sale of equity securities	'	'	'	0	'
Purchase of fixed assets	'	'	'	0	'
Purchase of software and technology-related assets	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	0	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Repurchase of Class B shares	'	'	'	0	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	0	'
Repurchase of shares and RSUs	'	'	'	0	'
Capital contributions (distributions)	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Excess tax benefits from delivery of RSUs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Certain Consolidated Entities | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	26,201	'
Other amortization and accretion (included in interest expense)	'	'	'	708	'
Deferred tax (benefit) expense	'	'	'	1,704	'
Loss on extinguishment of debt	'	'	'	5,949	'
Other	'	'	'	462	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	239	'
Deferred revenue	'	'	'	-439	'
Accrued expenses and other liabilities	'	'	'	970	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	-2,550	'
Acquisitions, net of cash acquired	'	'	'	-71,822	'
Other	'	'	'	714	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	-185,989	'
Borrowings under debt obligations	'	'	'	239,840	'
Proceeds from public offering	'	'	'	116,130	'
Dividends and dividend equivalents paid	'	'	'	-8,069	'
Payment of debt issuance costs	'	'	'	-2,505	'
Cash and Cash Equivalents, End of Period	135,063	'	135,063	135,063	'
Fortress Operating Group Eliminations	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	-541	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	0	'
Net cash provided by (used in) investing activities	'	'	'	50,053	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	-50,053	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	0	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Fortress Operating Group Eliminations | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
(Earnings) losses from equity method investees	'	'	'	-2,974	'
Distributions of earnings from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	554	'
Deferred incentive income	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Options received from affiliates	'	'	'	2,964	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Equity-based compensation	'	'	'	0	'
Options in affiliates granted to employees	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	4,047	'
Other assets	'	'	'	0	'
Accrued compensation and benefits	'	'	'	0	'
Due to affiliates	'	'	'	-2,064	'
Deferred incentive income	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	50,053	'
Distributions of capital from equity method investees	'	'	'	0	'
Purchase of securities	'	'	'	0	'
Proceeds from sale of equity securities	'	'	'	0	'
Purchase of fixed assets	'	'	'	0	'
Purchase of software and technology-related assets	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	0	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Repurchase of Class B shares	'	'	'	0	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	0	'
Repurchase of shares and RSUs	'	'	'	0	'
Capital contributions (distributions)	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Excess tax benefits from delivery of RSUs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Fortress Operating Group Eliminations | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	0	'
Deferred revenue	'	'	'	0	'
Accrued expenses and other liabilities	'	'	'	-1,986	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	0	'
Acquisitions, net of cash acquired	'	'	'	0	'
Other	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Payment of debt issuance costs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Fortress Investment Group LLC Consolidated (Other than FOG)	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	38,594	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	-3,636	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	0	'
Net cash provided by (used in) investing activities	'	'	'	51,996	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	-48,487	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	-127	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	627	'
Cash and Cash Equivalents, End of Period	500	'	500	500	'
Fortress Investment Group LLC Consolidated (Other than FOG) | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
(Earnings) losses from equity method investees	'	'	'	-50,219	'
Distributions of earnings from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	7,414	'
Options received from affiliates	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	4,036	'
Equity-based compensation	'	'	'	0	'
Options in affiliates granted to employees	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	0	'
Other assets	'	'	'	-2,111	'
Accrued compensation and benefits	'	'	'	0	'
Due to affiliates	'	'	'	170	'
Deferred incentive income	'	'	'	0	'
Other liabilities	'	'	'	-1,520	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	-33,664	'
Distributions of capital from equity method investees	'	'	'	85,660	'
Purchase of securities	'	'	'	0	'
Proceeds from sale of equity securities	'	'	'	0	'
Purchase of fixed assets	'	'	'	0	'
Purchase of software and technology-related assets	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	0	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	186,551	'
Repurchase of Class B shares	'	'	'	-186,551	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	33,664	'
Repurchase of shares and RSUs	'	'	'	0	'
Capital contributions (distributions)	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	-85,181	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Excess tax benefits from delivery of RSUs	'	'	'	3,030	'
Cash and Cash Equivalents, End of Period	500	'	500	500	'
Fortress Investment Group LLC Consolidated (Other than FOG) | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	0	'
Deferred revenue	'	'	'	0	'
Accrued expenses and other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	0	'
Acquisitions, net of cash acquired	'	'	'	0	'
Other	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Payment of debt issuance costs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Intercompany Eliminations	'	'	'	'	'
Cash Flows From Operating Activities	'	'	'	'	'
Net income (loss)	'	'	'	-50,219	'
Cash flows due to changes in	'	'	'	'	'
Net cash provided by (used in) operating activities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Existing cash on consolidation date	'	'	'	0	'
Net cash provided by (used in) investing activities	'	'	'	-51,996	'
Cash Flows From Financing Activities	'	'	'	'	'
Net cash provided by (used in) financing activities	'	'	'	51,996	'
Net Increase (Decrease) in Cash and Cash Equivalents	'	'	'	0	'
Cash and Cash Equivalents, Beginning of Period	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Intercompany Eliminations | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
(Earnings) losses from equity method investees	'	'	'	50,219	'
Distributions of earnings from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Options received from affiliates	'	'	'	0	'
Tax receivable agreement liability adjustment	'	'	'	0	'
Equity-based compensation	'	'	'	0	'
Options in affiliates granted to employees	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Due from affiliates	'	'	'	0	'
Other assets	'	'	'	0	'
Accrued compensation and benefits	'	'	'	0	'
Due to affiliates	'	'	'	0	'
Deferred incentive income	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Contributions to equity method investees	'	'	'	33,664	'
Distributions of capital from equity method investees	'	'	'	-85,660	'
Purchase of securities	'	'	'	0	'
Proceeds from sale of equity securities	'	'	'	0	'
Purchase of fixed assets	'	'	'	0	'
Purchase of software and technology-related assets	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Repayments of debt obligations	'	'	'	0	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Repurchase of Class B shares	'	'	'	0	'
Issuance (purchase) of Class A shares (RSU settlements)	'	'	'	0	'
Repurchase of shares and RSUs	'	'	'	0	'
Capital contributions (distributions)	'	'	'	-33,664	'
Dividends and dividend equivalents paid	'	'	'	85,660	'
Principals' and others' interests in equity of consolidated subsidiaries - contributions	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Excess tax benefits from delivery of RSUs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Intercompany Eliminations | Non-Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
Depreciation and amortization	'	'	'	0	'
Other amortization and accretion (included in interest expense)	'	'	'	0	'
Deferred tax (benefit) expense	'	'	'	0	'
Loss on extinguishment of debt	'	'	'	0	'
Other	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Other assets	'	'	'	0	'
Deferred revenue	'	'	'	0	'
Accrued expenses and other liabilities	'	'	'	0	'
Cash Flows From Investing Activities	'	'	'	'	'
Purchase of fixed assets	'	'	'	0	'
Acquisitions, net of cash acquired	'	'	'	0	'
Other	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Borrowings under debt obligations	'	'	'	0	'
Proceeds from public offering	'	'	'	0	'
Dividends and dividend equivalents paid	'	'	'	0	'
Principals' and others' interests in equity of consolidated subsidiaries - distributions	'	'	'	0	'
Payment of debt issuance costs	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Class B Shares | Investment Manager	'	'	'	'	'
Cash Flows From Financing Activities	'	'	'	'	'
Repurchase of Class B shares	'	'	'	-186,551	0
Investment Company - consolidated VIEs	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	-3,200	0	'	-2,974	0
Investment Company - consolidated VIEs | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	4,427	'
(Gains) losses	4,991	0	'	4,427	0
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	-458,794	0
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	386,242	0
Receivables from brokers and counterparties	'	'	'	40,825	0
Other assets	'	'	'	-9,362	0
Due to brokers and counterparties	'	'	'	12,577	0
Other liabilities	'	'	'	2,467	0
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	16,253	0
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	58,435	0
Cash and Cash Equivalents, Beginning of Period	'	'	'	0	'
Cash and Cash Equivalents, End of Period	16,604	0	16,604	16,604	0
Investment Company - consolidated VIEs | Fortress Operating Group Consolidated | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	0	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	0	'
Receivables from brokers and counterparties	'	'	'	0	'
Other assets	'	'	'	0	'
Due to brokers and counterparties	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	0	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Investment Company - consolidated VIEs | FOE II LP | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	0	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	0	'
Receivables from brokers and counterparties	'	'	'	0	'
Other assets	'	'	'	0	'
Due to brokers and counterparties	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	0	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Investment Company - consolidated VIEs | Certain Consolidated Entities | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	4,427	'
(Gains) losses	'	'	'	4,427	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	-458,794	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	386,242	'
Receivables from brokers and counterparties	'	'	'	40,825	'
Other assets	'	'	'	-9,362	'
Due to brokers and counterparties	'	'	'	12,577	'
Other liabilities	'	'	'	2,467	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	66,256	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	58,485	'
Cash and Cash Equivalents, End of Period	16,604	'	16,604	16,604	'
Investment Company - consolidated VIEs | Fortress Operating Group Eliminations | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	0	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	0	'
Receivables from brokers and counterparties	'	'	'	0	'
Other assets	'	'	'	0	'
Due to brokers and counterparties	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	-50,003	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	-50	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Investment Company - consolidated VIEs | Fortress Investment Group LLC Consolidated (Other than FOG) | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	0	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	0	'
Receivables from brokers and counterparties	'	'	'	0	'
Other assets	'	'	'	0	'
Due to brokers and counterparties	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	0	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	0	'
Cash and Cash Equivalents, End of Period	0	'	0	0	'
Investment Company - consolidated VIEs | Intercompany Eliminations | Investment Manager	'	'	'	'	'
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	'	'	'	'	'
(Earnings) losses from equity method investees	'	'	'	0	'
(Gains) losses	'	'	'	0	'
Cash flows due to changes in	'	'	'	'	'
Purchases of investments and payments to cover securities sold not yet purchased	'	'	'	0	'
Proceeds from sale of investments and securities sold not yet purchased	'	'	'	0	'
Receivables from brokers and counterparties	'	'	'	0	'
Other assets	'	'	'	0	'
Due to brokers and counterparties	'	'	'	0	'
Other liabilities	'	'	'	0	'
Cash Flows From Financing Activities	'	'	'	'	'
Redeemable non-controlling interests - contributions	'	'	'	0	'
Non-redeemable non-controlling interests in Investment Company - contributions	'	'	'	0	'
Cash and Cash Equivalents, End of Period	$0	'	$0	$0	'