Fortress Investment (FIG) 10-K 25 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Entity Registrant Name	Fortress Investment Group LLC
Entity Central Index Key	1,380,393
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 1.5
Class A Shares [Member]
Entity Common Stock, Shares Outstanding		221,183,518
Class B Shares [Member]
Entity Common Stock, Shares Outstanding		169,514,478

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 339,842	$ 391,089
Due from affiliates	273,811	326,575
Investments	1,055,789	1,121,545
Investments in options	30,427	71,844
Deferred tax asset, net	427,102	417,623
Other assets	148,310	173,708
Total Assets	2,275,281	2,502,384
Liabilities
Accrued compensation and benefits	318,750	374,709
Due to affiliates	365,218	375,424
Deferred incentive income	332,329	304,526
Debt obligations payable	230,677	75,000
Other liabilities	86,503	88,053
Total Liabilities	$ 1,333,477	$ 1,217,712
Commitments and Contingencies
Redeemable Non-controlling Interests	$ 0	$ 1,717
Equity
Paid-in capital	1,988,707	1,996,137
Retained earnings (accumulated deficit)	(1,415,113)	(1,350,122)
Accumulated other comprehensive income (loss)	(2,909)	(2,416)
Total Fortress shareholders’ equity	570,685	643,599
Principals’ and others’ interests in equity of consolidated subsidiaries	371,119	639,356
Total Equity	941,804	1,282,955
Total Liabilities, Redeemable Non-controlling Interests and Equity	2,275,281	2,502,384
Class A Shares [Member]
Equity
Common stock	0	0
Class B Shares [Member]
Equity
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2015	Dec. 31, 2014
Class A Shares [Member]
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	216,790,409	208,535,157
Common stock, shares outstanding (in shares)	216,790,409	208,535,157
Class B Shares [Member]
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	169,514,478	226,331,513
Common stock, shares outstanding (in shares)	169,514,478	226,331,513

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Management fees: affiliates	$ 547,109	$ 539,600	$ 520,283
Management fees: non-affiliates	59,480	68,948	62,795
Incentive income: affiliates	345,052	362,578	419,828
Incentive income: non-affiliates	813	1,734	44,383
Expense reimbursements: affiliates	237,158	213,048	206,452
Expense reimbursements: non-affiliates	11,005	13,429	7,209
Other revenues (affiliate portion disclosed in Note 7)	13,239	6,243	4,033
Total Revenues	1,213,856	1,205,580	1,264,983
Expenses
Compensation and benefits	743,862	795,361	741,761
General, administrative and other	164,194	173,113	136,770
Depreciation and amortization (Note 1)	39,243	19,829	13,690
Interest expense	4,579	3,443	5,382
Transfer of interest in Graticule	101,000	0	0
Total Expenses	1,052,878	991,746	897,603
Other Income (Loss)
Gains (losses) (affiliate portion disclosed in Note 4)	(18,919)	(11,757)	53,933
Tax receivable agreement liability adjustment	(6,141)	(33,116)	(8,787)
Earnings (losses) from equity method investees	(32,915)	78,199	136,866
Gain on transfer of Graticule	134,400	0	0
Total Other Income (Loss)	76,425	33,326	182,012
Income Before Income Taxes	237,403	247,160	549,392
Income tax expense	(55,788)	(6,947)	(65,801)
Net Income (Loss)	181,615	240,213	483,591
Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries	103,129	139,956	283,144
Redeemable Non-controlling Interests in income (loss) of consolidated subsidiaries	$ (6)	$ (709)	$ 0
Dividends declared per Class A share (in dollars per share)	$ 0.62	$ 0.50	$ 0.24
Earnings Per Class A share
Net income (loss) per Class A share, basic (in dollars per share)	0.35	0.47	0.83
Net income (loss) per Class A share, diluted (in dollars per share)	$ 0.28	$ 0.43	$ 0.79
Weighted average number of Class A shares outstanding, basic (in shares)	216,503,554	210,303,241	236,246,296
Weighted average number of Class A shares outstanding, diluted (in shares)	442,686,774	455,154,136	500,631,423
Class A Shares [Member]
Other Income (Loss)
Net Income Attributable to Class A Shareholders	$ 78,492	$ 100,966	$ 200,447

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 181,615	$ 240,213	$ 483,591
Foreign currency translation	(123)	(2,467)	(772)
Comprehensive income from equity method investees	0	0	4,136
Total comprehensive income	181,492	237,746	486,955
Allocation of Comprehensive Income
Comprehensive income attributable to principals’ and others’ interests	102,853	138,414	285,243
Comprehensive income (loss) attributable to redeemable non-controlling interests	(6)	(709)	0
Comprehensive income attributable to Class A shareholders	78,645	100,041	201,712
Total comprehensive income	$ 181,492	$ 237,746	$ 486,955

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Shares [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Fortress Shareholders’ Equity [Member]	Principals’ and Others’ Interests in Equity of Consolidated Subsidiaries [Member]	Class A Shares [Member]	Class B Shares [Member]
Equity (in shares) at Dec. 31, 2012								218,286,342	249,534,372
Equity at Dec. 31, 2012	$ 1,216,650	$ 2,119,102	$ (1,486,578)	$ (3,419)	$ (2,634)	$ 626,471	$ 590,179
Increase (Decrease) in Equity
Contributions from principals’ and others’ interests in equity	70,272						70,272
Distributions to principals’ and others’ interests in equity (net of tax)	(149,532)	(112)				(112)	(149,420)
Dividends declared	(56,274)	(56,340)				(56,340)	66
Dividend equivalents accrued in connection with equity- based compensation (net of tax)	(1,376)	(531)				(531)	(845)
Conversion of Class B shares to Class A shares (in shares)								10,333,334	(10,333,334)
Conversion of Class B shares to Class A shares	0	10,143			0	10,143	(10,143)
Net deferred tax effects resulting from acquisition and exchange of Fortress Operating Group units	13,285	13,315				13,315	(30)
Director restricted share grant (in shares)								127,533
Director restricted share grant	770	372				372	398
Capital increase related to equity-based compensation, (net of tax) (in shares)								9,912,027	10,333,334
Capital increase related to equity-based compensation (net of tax)	35,160	17,037				17,037	18,123
Dilution impact of equity transactions	0	14,173		(15)	(153)	14,005	(14,005)
Reissuance of treasury stock (in shares)								2,082,684
Reissuance of treasury stock	(1,005)	(4,439)	0	3,434		(1,005)	0
Comprehensive income (net of tax)
Net income	483,591		200,447			200,447	283,144
Foreign currency translation	(772)		0		(232)	(232)	(540)
Comprehensive income from equity method investees	4,136				1,497	1,497	2,639
Total comprehensive income	486,955					201,712	285,243
Equity (in shares) at Dec. 31, 2013								240,741,920	249,534,372
Equity at Dec. 31, 2013	1,614,905	2,112,720	(1,286,131)	0	(1,522)	825,067	789,838
Increase (Decrease) in Equity
Contributions from principals’ and others’ interests in equity	125,497						125,497
Distributions to principals’ and others’ interests in equity (net of tax)	(248,932)	0				0	(248,932)
Dividends declared	(101,864)	(101,864)				(101,864)	0
Dividend equivalents accrued in connection with equity- based compensation (net of tax)	(3,304)	(1,218)				(1,218)	(2,086)
Net deferred tax effects resulting from acquisition and exchange of Fortress Operating Group units	7,729	7,638				7,638	91
Director restricted share grant (in shares)								89,390
Director restricted share grant	660	312				312	348
Capital increase related to equity-based compensation, (net of tax) (in shares)								5,069,263
Capital increase related to equity-based compensation (net of tax)	43,219	20,389				20,389	22,830
Dilution impact of equity transactions	0	(41,840)			31	(41,809)	41,809
Public offering of Class A shares (in shares)								23,202,859
Public offering of Class A shares	186,551	186,551		0	0	186,551	0
Repurchase of Class A shares (in shares) (Note 9)								(60,568,275)
Repurchase of Class A shares (Note 9)	(393,410)		(164,957)			(164,957)	(228,453)
Repurchase of Class B shares (in shares)									(23,202,859)
Repurchase of Class B shares (Note 9)	(186,551)	(186,551)				(186,551)
Comprehensive income (net of tax)
Net income	240,922		100,966		0	100,966	139,956
Foreign currency translation	(2,467)				(925)	(925)	(1,542)
Comprehensive income from equity method investees	0
Total comprehensive income	238,455					100,041	138,414
Equity (in shares) at Dec. 31, 2014								208,535,157	226,331,513
Equity at Dec. 31, 2014	1,282,955	1,996,137	(1,350,122)	0	(2,416)	643,599	639,356
Increase (Decrease) in Equity
Contributions from principals’ and others’ interests in equity	98,887						98,887
Distributions to principals’ and others’ interests in equity (net of tax)	(300,576)	0				0	(300,576)
Dividends declared	(131,019)	(131,019)				(131,019)	0
Dividend equivalents accrued in connection with equity- based compensation (net of tax)	(8,164)	(3,110)				(3,110)	(5,054)
Net deferred tax effects resulting from acquisition and exchange of Fortress Operating Group units	33,146	32,695				32,695	451
Director restricted share grant (in shares)								111,969
Director restricted share grant	560	271				271	289
Capital increase related to equity-based compensation, (net of tax) (in shares)								8,143,283
Capital increase related to equity-based compensation (net of tax)	40,193	19,642				19,642	20,551
Dilution impact of equity transactions	0	74,091		0	(646)	73,445	(73,445)
Repurchase of Class B shares (in shares)									(56,817,035)
Repurchase of Class B shares (Note 9)	(255,676)	0	(143,483)			(143,483)	(112,193)
Comprehensive income (net of tax)
Net income	181,621		78,492		0	78,492	103,129
Foreign currency translation	(123)		0		153	153	(276)
Comprehensive income from equity method investees	0
Total comprehensive income	181,498					78,645	102,853
Equity (in shares) at Dec. 31, 2015								216,790,409	169,514,478
Equity at Dec. 31, 2015	$ 941,804	$ 1,988,707	$ (1,415,113)	$ 0	$ (2,909)	$ 570,685	$ 371,119

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities
Net income	$ 181,615	$ 240,213	$ 483,591
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization	39,243	19,829	13,690
Other amortization (included in interest expense)	781	781	900
(Earnings) losses from equity method investees	32,915	(78,199)	(136,866)
Distributions of earnings from equity method investees	43,858	110,967	84,548
(Gains) losses	18,919	11,757	(53,933)
Deferred incentive income	(219,032)	(171,387)	(107,276)
Deferred tax (benefit) expense	20,331	(18,044)	54,431
Options received from affiliates	(25,158)	(6,310)	(42,516)
Tax receivable agreement liability adjustment	6,141	33,116	8,787
Equity-based compensation	38,407	38,157	39,266
Options in affiliates granted to employees	1,111	701	8,190
Other	536	(616)	863
Transfer of interest in Graticule	101,000	0	0
Gain on transfer of Graticule	(134,400)	0	0
Cash flows due to changes in
Due from affiliates	(65,840)	(164,729)	(347,942)
Other assets	(3,041)	39,049	(18,082)
Accrued compensation and benefits	46,902	89,875	330,907
Due to affiliates	(28,510)	(34,137)	(2,667)
Deferred incentive income	228,594	216,493	118,765
Other liabilities	11,056	8,021	(1,765)
Purchases of investments and payments to cover securities sold not yet purchased	(152,418)	(643,283)	0
Proceeds from sale of investments and securities sold not yet purchased	98,423	608,228	0
Receivables from brokers and counterparties	(119)	(44,904)	0
Due to brokers and counterparties	1,738	12,031	0
Net cash provided by (used in) operating activities	243,052	267,609	432,891
Cash Flows From Investing Activities
Contributions to equity method investees	(33,855)	(36,110)	(37,084)
Distributions of capital from equity method investees	235,290	379,940	281,481
Purchase of securities	(883)	(16,664)	(20,043)
Proceeds from sale of securities	18,101	84,852	18,849
Proceeds from exercise of options	(51,543)	0	0
Purchase Of Digital Currency (Bitcoin)	0	0	(20,000)
Purchase of fixed assets	(31,595)	(12,445)	(11,471)
Purchase of software and technology-related assets	0	(25,976)	0
Cash of liquid hedge fund on deconsolidation date	0	(12,024)	0
Net cash provided by (used in) investing activities	238,601	361,573	211,732
Cash Flows From Financing Activities
Repayments of debt obligations	0	(50,000)	(149,453)
Borrowing under debt obligations	0	125,000	0
Payment of deferred financing costs	0	0	(2,367)
Proceeds from public offering (Note 9)	0	186,551	0
Repurchase of shares and RSUs (Note 9)	0	(3,611)	0
Dividends and dividend equivalents paid	(140,773)	(105,860)	(57,926)
Principals’ and others’ interests in equity of consolidated subsidiaries - contributions	1,285	876	401
Principals’ and others’ interests in equity of consolidated subsidiaries - distributions	(286,833)	(245,461)	(174,937)
Excess tax benefits from delivery of RSUs	4,808	3,538	0
Redeemable non-controlling interests - contributions (distributions)	(1,711)	36,252	0
Net cash provided by (used in) financing activities	(532,900)	(602,676)	(384,282)
Net Increase (Decrease) in Cash and Cash Equivalents	(51,247)	26,506	260,341
Cash and Cash Equivalents, Beginning of Period	391,089	364,583	104,242
Cash and Cash Equivalents, End of Period	339,842	391,089	364,583
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	2,077	2,106	3,586
Cash paid during the period for income taxes	11,615	4,953	6,468
Supplemental Schedule of Non-cash Investing and Financing Activities
Employee compensation invested directly in subsidiaries	97,515	124,442	66,779
Investments of incentive receivable amounts into Fortress Funds	138,026	258,023	227,091
Dividends, dividend equivalents and Fortress Operating Group unit distributions declared but not yet paid	7,872	0	5,160
Non-cash redeemable non-controlling interests - contributions	0	20,519	0
Non-cash redeemable non-controlling interests - distributions - deconsolidation of liquid hedge fund	0	56,524	0
Exchange of promissory note for share repurchase (Note 9)	155,677	0	0
Class B Shares [Member]
Cash Flows From Financing Activities
Repurchase of common shares	(100,000)	(186,551)	0
Class A Shares [Member]
Cash Flows From Financing Activities
Repurchase of common shares	(9,676)	(363,410)	0
Supplemental Schedule of Non-cash Investing and Financing Activities
Dividends, dividend equivalents and Fortress Operating Group unit distributions declared but not yet paid	$ 0	$ 0	$ 0

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Fortress Investment Group LLC (the “Registrant,” or, together with its subsidiaries, “Fortress,”) is a leading, highly diversified global investment management firm. Its primary business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (collectively, the “Fortress Funds”). Fortress generally makes investments in these funds. The Registrant conducts its business and holds its investments through limited partnerships and their subsidiaries which are referred to as Fortress Operating Group. The Registrant through its wholly owned subsidiaries controls Fortress Operating Group as general partner. The Registrant is a limited liability company and its members are not responsible for any of its liabilities beyond the equity they have invested. Fortress's formation documents allow for an indefinite life. FIG Corp., a subsidiary of the Registrant, is a corporation for tax purposes. As a result, the Registrant is subject to income taxes on that portion of its income which flows through FIG Corp. The Principals own economic interests in Fortress Operating Group through their ownership of Fortress Operating Group units and Class A shares of the Registrant (Note 9). The Principals’ Fortress Operating Group unit interests in the equity and income (loss) of Fortress Operating Group are recorded on the face of the consolidated financial statements as further described in Note 7. Fortress's primary sources of income from the Fortress Funds are management fees, incentive income, and investment income on its investments in the funds. In addition, Fortress receives certain expense reimbursements pursuant to its management agreements. 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) Newcastle Investment Corp. ("Newcastle"), New Residential Investment Corp. ("New Residential"), Eurocastle Investment Limited ("Eurocastle"), New Media Investment Group Inc. ("New Media"), New Senior Investment Group Inc. ("New Senior") and Fortress Transportation and Infrastructure Investors LLC ("FTAI"), which are publicly traded companies that are externally managed by Fortress pursuant to management agreements (collectively referred to as the "publicly traded permanent capital vehicles") and (ii) FHC Property Management LLC (together with its subsidiaries, referred to as "Blue Harbor"), a senior living property management business. 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, media assets and transportation and infrastructure assets. All of the capital of Worldwide Transportation and Infrastructure Investors ("WWTAI"), formerly a private fund managed by Fortress, was contributed to FTAI which completed its initial public offering ("IPO") in May 2015 (see Note 3). 2) 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 or co-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 the following 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. 3) Liquid hedge funds include the affiliated manager platform ("Affiliated Managers"); 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. On January 5, 2015, Fortress Asia Macro Funds and related managed accounts became the first group of funds to join Fortress's Affiliated Managers as they transitioned to an autonomous asset management business named Graticule Asset Management Asia ("Graticule"). Fortress retained a perpetual minority interest in Graticule amounting to 30% of earnings during 2015 and 2016 and declining to approximately 27% of earnings thereafter. Fortress recorded the results of this transaction at fair value. During the year ended December 31, 2015, Fortress recorded a non-cash gain of $134.4 million , non-cash expense of $101.0 million related to the fair value of the controlling interest in Graticule transferred to a former senior employee for no consideration and $33.4 million from its resulting retained interest as an equity method investment. Fortress utilized an income approach to value Graticule, its retained interest in Graticule and the controlling interest in Graticule which was transferred. This approach relies on a number of factors including actual operating results, discount rates and economic projections. Fortress also receives additional fees for providing infrastructure services (technology, back office, and related services) to Graticule. During the second quarter of 2015, Graticule notified Fortress of its intention to terminate the infrastructure services agreement effective at the end of May 2016. Fortress will continue to earn fees for providing services to Graticule through the effective date of termination. In the fourth quarter of 2015, Fortress closed the Fortress Macro Funds and related managed accounts. Michael Novogratz, a principal, officer and director of Fortress retired effective January 2016. In November 2015, Fortress purchased from Mr. Novogratz 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million . In connection with this purchase, Fortress paid $100.0 million of cash in November 2015 and issued a $155.7 million promissory note, of which one-half of the principal amount matures in November 2016 and the remainder in November 2017. In addition, Fortress entered into a consent and waiver with the lenders under its credit agreement for their consent to this transaction. In January 2014, Fortress acquired software and technology-related assets which were accounted for as a business combination. These assets facilitated trading within Fortress's liquid hedge funds segment. The purchase price was $26.0 million and was allocated to acquired software and technology related assets. During 2015, Fortress determined that these assets had not met performance targets which triggered an asset impairment test. As a result of this test, $18.2 million was written off and included in Depreciation and Amortization for the year ended December 31, 2015. As of December 31, 2015, these assets had no remaining carrying value. 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 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. 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. 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. 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 credit agreement and other debt obligations. Principals' and Others' Interests in Equity of Consolidated Subsidiaries 7 The GAAP basis of the Principals' and a former senior employee's ownership interests in Fortress Operating Group as well as employees' ownership interests in certain subsidiaries. Statement of Operations Management Fees: Affiliates 3 Fees earned for managing Fortress Funds and other affiliates, generally determined based on the size of such funds. Management Fees: Non-Affiliates 3 Fees earned from managed accounts and the 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). Continued on next page. FINANCIAL STATEMENT GUIDE Selected Financial Statement Captions Note Reference Explanation 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. 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. Principals’ and Others’ Interests in Income 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 Fortress's financial performance by segment (fund type) is provided, on the basis of the operating performance measure used by Fortress’s management committee. Recent Accounting Pronouncements In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) (“ASU 2016-01”). ASU 2016-01 contains amendments intended to improve certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The new standard is effective for Fortress beginning January 1, 2018. Early adoption is permitted only for certain of the amendments. The standards requires a cumulative effect adjustment to the balance sheet as of the beginning of the period of adoption, with the exception of the amendments related to equity securities without readily determinable fair values (including disclosure requirements) which should be applied prospectively. The adoption of ASU 2016-01 is not expected to have a material impact on Fortress's consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”) which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a reduction from the carrying amount of that debt liability. ASU 2015-03 does not specifically address requirements for the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. In August 2015, the FASB issued ASU No. 2015-15, Interest -Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (“ASU 2015-15”). ASU 2015-15 amends Subtopic 835-30 to include that the SEC would not object to the deferral and presentation of debt issuance costs as an asset and subsequent amortization of the deferred costs over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-03 is effective for Fortress beginning January 1, 2016. The adoption of ASU 2015-03 is not expected to have a material impact on Fortress's consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") which is a comprehensive new revenue recognition standard for contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. ASU 2014-09 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. In July 2015, the FASB deferred the effective date of the new revenue recognition standard. The new standard is effective for Fortress beginning January 1, 2018. Early adoption is permitted but not before the original public entity effective date (that is, annual periods beginning after December 15, 2016). ASU 2014-09 permits the use of either the retrospective or cumulative effect transition method. The adoption of ASU 2014-09 is not expected to have a material impact on Fortress's consolidated balance sheet and consolidated statement of operations. The FASB has recently issued or discussed a number of proposed standards on such topics as financial statement presentation, leases 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. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 eliminates the deferral of Statement of Financial Accounting Standards No. 167, Amendments to FASB Interpretation No. 46 (R) previously provided to investment companies and certain other entities pursuant to ASC 810-10-65-2. ASU 2015-02 also amends the evaluation of whether (1) fees paid to a decision maker or service provider represent a variable interest, (2) a limited partnership or similar entity has the characteristics of a variable interest entity ("VIE") and (3) a reporting entity is the primary beneficiary of a VIE. ASU 2015-02 eliminates certain conditions for evaluating whether a fee paid to a decision maker or a service provider represents a variable interest. Fees received by a decision maker or service provider are no longer considered variable interests and are now excluded from the evaluation of whether the reporting entity is the primary beneficiary of a VIE if the fees are both customary and commensurate with the level of effort required for the services provided and the decision maker or service provider does not hold other interests in the entity being evaluated that would absorb more than an insignificant amount of the expected losses or returns of the entity. If the reporting entity determines that it does not have a variable interest in an entity, no further consolidation analysis is performed as the reporting entity would not be required to consolidate the entity. The effective date of ASU 2015-02 is for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. During the first quarter of 2015, Fortress elected to early adopt ASU 2015-02 on a retrospective basis as permitted, for all periods presented. The consolidated financial statements and related footnote disclosures have been adjusted for the impact of the adoption. The adoption did not result in a cumulative effect adjustment to Fortress’s retained earnings (accumulated deficit). Prior to the adoption of ASU 2015-02, during the year ended December 31, 2014, Fortress consolidated New Media, New Senior, a private equity fund and certain investment vehicles formed by certain credit hedge funds, collectively referred to as previously consolidated VIEs. The financial results of the previously consolidated VIEs were included in Fortress's consolidated financial statements in previous filings with the Securities and Exchange Commission, based on the then existing consolidation guidance. The adoption of ASU 2015-02 resulted in the deconsolidation of the previously consolidated VIEs as Fortress determined that under ASU 2015-02, it was not the primary beneficiary of these entities. The fee arrangements with these entities are both commensurate with the level of effort required for the services provided and include only customary terms and Fortress does not hold other interests in these entities that could absorb losses or receive benefits that could potentially be significant to these entities. Therefore, Fortress no longer considers these fee arrangements to be variable interests. Under ASU 2015-02, Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits from these entities that could potentially be significant to these entities. Also see Note 4 for the related disclosures for certain unconsolidated variable interest entities. The effects of the deconsolidation of these previously consolidated VIEs as of and for the year ended December 31, 2014 was an increase (decrease) of total assets, total liabilities and total equity of $(3,432.5) million , $(1,649.3) million and $(1,783.2) million , respectively, and total revenue, total expenses and net income of $(606.2) million , $(622.1) million and $6.9 million , respectively.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
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 U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the accounts of Fortress and its consolidated subsidiaries, which are comprised of VIEs in which it is the primary beneficiary as described below and voting interest entities (“VOEs”) in which it is determined to have a controlling financial interest under ASC 810, as amended by ASU 2015-02. For legal entities evaluated for consolidation, Fortress must determine whether the interests that it holds and fees paid to it qualify as a variable interest in the entity. This includes an evaluation of fees paid to Fortress where Fortress acts as a decision maker or service provider to the entity being evaluated. Fees received by Fortress are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions, or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) Fortress's other economic interests in the VIE held directly and indirectly through its related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits. For those entities in which it has a variable interest, Fortress performs an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether 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 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. Performance of such analysis requires the exercise of judgment. The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. Fortress is generally deemed to have a controlling financial interest in a VIE if it has (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to Fortress are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. Fortress also evaluates its economic interests in the VIE held directly by it and indirectly through its related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by Fortress, related parties of Fortress or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated continuously. For VOEs, Fortress shall consolidate the entity if it has a controlling financial interest. Fortress has a controlling financial interest in a VOE if (i) for legal entities other than limited partnerships, Fortress owns a majority voting interest in the VOE or, for limited partnerships and similar entities, Fortress owns a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that Fortress does not control the entity. 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. The evaluation of whether Fortress exerts control or significant influence over the financial and operational policies of an entity requires judgment based on the facts and circumstances surrounding each individual entity. Virtually all of the Fortress Funds, excluding the permanent capital vehicles, are, for GAAP purposes, investment companies. Investment companies record realized and unrealized gains (losses) resulting from changes in the fair value of their investments as a component of current income. Additionally, investment companies generally do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”). Distributions by Fortress and its subsidiaries are recognized when declared. Redeemable Non-controlling Interests represent ownership interests in consolidated subsidiaries which are redeemable and not owned by 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 7). Non-Fortress interests also include employee interests in majority owned and controlled fund advisor and general partner entities. All significant intercompany transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period's presentation. 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, a majority 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 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. Options Received - Fully vested options are issued to Fortress by 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 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 subsequent changes in fair value recognized in 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 and foreign exchange transactions. 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. Balance Sheet Measurement 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. Due from/to Affiliates - For purposes of classifying amounts, Fortress considers its principals, employees, directors, all of the Fortress Funds, the Portfolio Companies and Affiliated Managers to be 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 liabilities are comprised of the following. Other assets are presented net of allowances for uncollectable amounts of $1.2 million and $2.3 million as of December 31, 2015 and 2014 , respectively, and changes thereto were recorded as General and Administrative expense. Other Assets Other Liabilities December 31, December 31, 2015 2014 2015 2014 Fixed assets $ 184,873 $ 154,525 Current taxes payable (Note 6) $ 4,337 $ 4,204 Accumulated depreciation (134,910 ) (99,412 ) Accrued expenses and accounts payable 25,310 25,634 Receivables 25,576 24,997 Deferred rent 15,960 7,459 Equity securities — 17,627 Unearned income 11,243 10,694 Digital currency (Bitcoin) 5,653 6,828 Derivatives 2,201 932 Prepaid compensation, net 14,141 13,091 Accrued fee liability (Note 9) 20,324 30,000 Prepaid expense 17,630 17,418 Miscellaneous liabilities 7,128 9,130 Goodwill and intangibles 14,987 10,417 $ 86,503 $ 88,053 Accumulated amortization (9,606 ) (8,345 ) Derivatives 22,146 27,105 Miscellaneous assets, net 7,820 9,457 $ 148,310 $ 173,708 - 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. - Equity Securities - Equity securities consist primarily of investments in unaffiliated publicly traded companies which are valued based on quoted market prices. All of the equity securities in unaffiliated publicly traded companies were sold in the first quarter of 2015. - 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 years ended December 31, 2015 and 2014, Fortress recognized an impairment charge of $2.8 million and $11.5 million , respectively. - 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 are 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 on the consolidated balance sheets 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 2015 , 2014 and 2013 . 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, if any, and on derivatives designated as cash flow hedges, if any, as well as net foreign currency translation adjustments, including Fortress’s relative share of these items from its equity method investees. The following table summarizes Fortress’s accumulated other comprehensive income (loss): December 31, 2015 2014 Direct Net foreign currency translation adjustments $ (2,909 ) $ (2,416 ) Accumulated other comprehensive income (loss) $ (2,909 ) $ (2,416 ) The amounts reclassified from accumulated other comprehensive income (loss) to components of net income, if any, were immaterial for each period presented. 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 no t material during the years ended December 31, 2015 , 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. Accordingly, incentive income resulting from a realization event within a fund gives rise to the incurrence of a profit sharing obligation and 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 and publicly traded permanent capital vehicles, where incentive income is generally earned on an annual basis, the related compensation expense is accrued during the period for which the incentive income is related. In addition, certain of Fortress's employees are granted rights in options it holds in the publicly traded permanent capital vehicles (the "tandem options"). The fair value of these rights are recorded as profit sharing compensation expense at the grant date. Subsequent to the grant date, the related liability, included in accrued compensation and benefits, is marked to fair value through compensation expense until such time as the rights are exercised or expire. For profit sharing plans related to private equity funds 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 will be received 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, including the level of realized gains generated by the underlying funds which ultimately give rise to incentive income payments. 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 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 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.

MANAGEMENT AGREEMENTS AND FORTR

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS	12 Months Ended
	Dec. 31, 2015
Management and Agreement Fortress Funds [Abstract]
MANAGEMENT AGREEMENTS AND FORTRESS FUNDS	MANAGEMENT AGREEMENTS AND FORTRESS FUNDS Fortress has two principal sources of fee income from its agreements with the Fortress Funds: contractual management fees, which are generally based on a percentage of fee paying assets under management ("AUM"), 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. In addition, Fortress receives certain expense reimbursements pursuant to its management agreements. The Fortress Funds are divided into segments and Fortress's agreements with each are detailed below. Management Fees and Incentive Income Fortress recognized management fees and incentive income as follows: Year Ended December 31, 2015 2014 2013 Private Equity Private Equity Funds Management fees: affil. $ 115,613 $ 135,803 $ 133,725 Management fees: non-affil. — 364 493 Incentive income: affil. 691 22,094 27,790 Permanent Capital Vehicles Management fees: affil. 95,410 67,638 58,206 Management fees, options: affil. 25,158 6,310 42,516 Management fees: non-affil. 1,853 2,910 3,807 Incentive income: affil. 54,199 56,497 15,653 Credit Funds Credit Hedge Funds Management fees: affil. 132,541 113,712 101,699 Management fees: non-affil. 71 146 191 Incentive income: affil. 78,555 120,255 190,581 Credit PE Funds Management fees: affil. 117,624 96,586 95,787 Management fees: non-affil. 116 129 138 Incentive income: affil. 210,600 147,897 78,341 Incentive income: non-affil. 697 1,396 1,145 Liquid Hedge Funds Management fees: affil. 57,695 116,526 85,807 Management fees: non-affil. 6,513 21,365 24,815 Incentive income: affil. 873 15,835 107,463 Incentive income: non-affil. 39 232 43,238 Logan Circle Management fees: affil. 3,068 3,025 2,543 Management fees: non-affil. 50,927 44,034 33,351 Incentive income: affil. 134 — — Incentive income: non-affil. 77 106 — Total Management fees: affil. (including options) $ 547,109 $ 539,600 $ 520,283 Management fees: non-affil. $ 59,480 $ 68,948 $ 62,795 Incentive income: affil. (A) $ 345,052 $ 362,578 $ 419,828 Incentive income: non-affil. $ 813 $ 1,734 $ 44,383 (A) See “Deferred Incentive Income” below. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for each 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 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) and is generally received subsequent to year end. Incentive income recognized as revenue at year end from these funds was $56.3 million , $108.7 million and $271.2 million during the years ended December 31, 2015 , 2014 and 2013 , respectively. During the years ended December 31, 2015 , 2014 and 2013 , Fortress recognized $211.3 million , $147.9 million and $78.3 million , respectively, of incentive income distributions from its credit PE funds which were non-clawbackable or represented “tax distributions.” 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. Distributed incentive income amounts in the table below do not include incentive income which is not subject to clawback when received from the Fortress Funds. This also does not include any amounts related to third party funds, receipts from which are reflected as Other Liabilities until all contingencies are resolved. Deferred incentive income from the Fortress Funds was comprised of the following on an inception-to-date basis. 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 Share of income (loss) of Fortress Funds N/A N/A N/A 399,213 Distribution of private equity funds and credit PE 226,780 N/A 226,780 (226,780 ) Distribution of private permanent capital vehicle 217 N/A 217 (217 ) Recognition of previously deferred incentive income N/A (171,387 ) (171,387 ) N/A Changes in foreign exchange rates 1,360 — 1,360 N/A Deferred incentive income as of December 31, 2014 $ 1,243,441 $ (938,915 ) $ 304,526 $ 868,549 Share of income (loss) of Fortress Funds N/A N/A N/A 276,323 Distribution of private equity funds, credit PE 240,215 N/A 240,215 (240,215 ) Distribution of private permanent capital vehicle 6,299 N/A 6,299 (6,299 ) Recognition of previously deferred incentive income N/A (219,032 ) (219,032 ) N/A Changes in foreign exchange rates 321 — 321 N/A Deferred incentive income as of December 31, 2015 $ 1,490,276 (E) $ (1,157,947 ) $ 332,329 $ 898,358 (E) Deferred incentive income including Fortress Funds $ 1,543,932 $ (1,211,603 ) (A) All related contingencies have been resolved. (B) Reflected on the consolidated balance sheet. (C) At December 31, 2015 , the net undistributed incentive income is comprised of $965.3 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 December 31, 2015 at their net asset values. Subsequent to December 31, 2015, Fortress paid $66.9 million to Fund III representing prior net incentive income distributions received ( $45.1 million net of employee amounts). Following such payment, no clawback exists for Fund III. (D) From inception to December 31, 2015 , Fortress has paid $698.8 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 December 31, 2015 , Fortress had recovered $6.4 million from individuals relating to their clawback obligations. Subsequent to December 31, 2015, Fortress recovered an additional $15.1 million from individuals relating to their clawback obligations. If the $965.3 million of gross undistributed incentive income were realized, Fortress would recognize and pay an additional $481.7 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: December 31, 2015 Distributed incentive income - Private Equity Funds $ 847,362 Distributed incentive income - Private Equity Funds in Investment Period or Commitment Period — Distributed incentive income - Credit PE Funds 955,289 Distributed incentive income - Credit PE Funds in Investment Period or Commitment Period 9,767 Distributed incentive income - Permanent Capital Vehicle (see footnote (P) of incentive income threshold tables) 7,043 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 (183,196 ) Distributed-Gross $ 1,490,276 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: December 31, 2015 Undistributed incentive income - Private Equity Funds $ 29,395 Undistributed incentive income - Private Equity Funds in Investment Period or Commitment Period 1,972 Undistributed incentive income - Credit PE Funds 830,361 Undistributed incentive income - Credit PE Funds in Investment Period or Commitment Period 36,018 Undistributed incentive income - Permanent Capital Vehicles — Undistributed incentive income - Hedge Funds (total) 67,515 Undistributed incentive income - Logan Circle — Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds (66,903 ) Undistributed, net of intrinsic clawback $ 898,358 Certain investments held by employees and affiliates of Fortress, as well as by Fortress itself, in the Fortress Funds are not subject to management fees or incentive income. During the years ended December 31, 2015 , 2014 and 2013 , management fees of $5.2 million , $6.0 million and $4.7 million , respectively, and incentive income, exclusive of tax distributions, of $3.0 million , $4.0 million and $6.0 million , respectively, were waived on such employees’ investments. The following tables summarize information with respect to the Fortress Funds and their related incentive income thresholds as of December 31, 2015: Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Private Equity Funds NIH (1998) Closed Jun-15 $ 415,574 $ (823,588 ) $ — $ N/A $ N/A $ N/A $ — $ 94,513 $ — $ — $ — Fund I (1999) (K) Closed May-13 1,015,943 (2,847,929 ) — N/A N/A N/A — 344,939 — — — Fund II (2002) Closed Dec-15 1,974,298 (3,446,405 ) — N/A N/A N/A — 289,531 — — — Fund III (2004) In Liquidation 2,762,992 (2,152,525 ) 748,600 138,133 2,295,674 2,157,541 — 66,903 66,903 66,903 45,108 Fund III Coinvestment (2004) In Liquidation 273,649 (231,688 ) 55,533 13,572 267,680 254,108 — — — — — Fund IV (2006) Jan-17 3,639,561 (1,379,503 ) 1,872,736 (387,322 ) 3,131,331 3,518,653 — — — — — Fund IV Coinvestment (2006) Jan-17 762,696 (278,972 ) 342,783 (140,941 ) 669,109 810,050 — — — — — Fund V (2007) Feb-18 4,103,713 (1,615,467 ) 5,097,957 2,609,711 2,680,330 299,493 11,463 — — — — Fund V Coinvestment (2007) Feb-18 990,480 (174,098 ) 483,389 (332,993 ) 768,725 1,101,718 — — — — — GAGACQ Fund (2004) (GAGFAH) Closed Nov-09 545,663 (595,401 ) — N/A N/A N/A — 51,476 — — — FRID (2005) (GAGFAH) Closed Nov-14 1,220,229 (1,202,153 ) — N/A N/A N/A — — — — — FRIC (2006) (Brookdale) Closed Dec-14 328,754 (291,330 ) — N/A N/A N/A — — — — — FICO (2006) (Intrawest) Jan-17 724,525 — (65,229 ) (789,754 ) 711,570 1,501,324 — — — — — FHIF (2006) (Holiday) Jan-17 1,543,463 (788,152 ) 1,195,360 440,049 1,328,550 888,501 — — — — — FECI (2007) (Florida East Coast/Flagler) Feb-18 982,779 (924 ) 911,347 (70,508 ) 890,395 960,903 — — — — — MSR Opportunities Fund I A (2012) Aug-22 341,135 (172,438 ) 292,961 124,264 — N/A 11,965 — — — — MSR Opportunities Fund I B (2012) Aug-22 82,760 (41,707 ) 70,893 29,840 — N/A 2,983 — — — — MSR Opportunities Fund II A (2013) Jul-23 160,653 (33,577 ) 143,717 16,641 — N/A 2,390 — — — — MSR Opportunities Fund II B (2013) Jul-23 2,291 (462 ) 2,047 218 — N/A 23 — — — — MSR Opportunities MA I (2013) Jul-23 36,868 (7,739 ) 32,998 3,869 — N/A 571 — — — — $ 29,395 $ 847,362 $ 66,903 $ 66,903 $ 45,108 Private Equity Funds in Investment or Commitment Period Italian NPL Opportunities Fund (2013) Sep-24 $ 310,705 $ (10,421 ) $ 313,671 $ 13,387 $ — N/A $ 1,972 $ — $ — $ — $ — $ 1,972 $ — $ — $ — $ — Continued on next page. Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Credit PE Funds Long Dated Value Fund I (2005) Apr-30 $ 267,325 $ (128,335 ) $ 282,640 $ 143,650 $ 164,090 $ 20,617 $ 5 $ — $ — $ — $ — Long Dated Value Fund II (2005) Nov-30 274,280 (150,977 ) 195,049 71,746 130,848 59,102 — 412 — — — Long Dated Value Fund III (2007) Feb-32 343,156 (284,616 ) 176,545 118,005 — N/A 12,004 7,571 — — — LDVF Patent Fund (2007) Nov-27 40,731 (34,027 ) 28,043 21,339 — N/A 730 1,471 — — — Real Assets Fund (2007) Jun-17 359,024 (403,818 ) 52,026 96,820 — N/A 7,776 7,231 — — — Credit Opportunities Fund (2008) Oct-20 5,672,867 (7,376,555 ) 1,058,430 2,762,118 — N/A 127,604 414,602 134,423 — — Credit Opportunities Fund II (2009) Jul-22 2,360,538 (2,703,347 ) 936,041 1,278,850 — N/A 116,987 133,797 48,305 — — Credit Opportunities Fund III (2011) Mar-24 3,371,703 (1,899,242 ) 2,234,215 761,754 — N/A 109,283 39,908 — — — FCO Managed Accounts (2008-2012) Apr-22 to Dec-24 4,552,034 (3,770,818 ) 2,418,731 1,637,515 — N/A 184,378 127,107 38,773 — — SIP Managed Account (2010) Sep-20 11,000 (39,230 ) 17,688 45,918 — N/A 4,422 5,646 — — — Japan Opportunity Fund (Yen only) (2009) Jun-19 909,373 (1,593,377 ) 583,060 1,267,064 — N/A 116,060 152,597 35,122 — — Net Lease Fund I (2010) Closed Dec- 15 152,851 (227,108 ) — N/A N/A N/A — 9,743 — — — Real Estate Opportunities Fund (2011) Sep-24 544,586 (370,375 ) 370,554 196,343 — N/A 13,692 3,465 2,791 — — Global Opportunities Fund (2010) Sep-20 331,379 (175,653 ) 236,322 80,596 — N/A 13,496 2,220 2,220 — — Japan Opportunity Fund II (Yen) (2011) Dec-21 706,556 (393,107 ) 756,820 443,371 — N/A 68,135 20,675 — — — Japan Opportunity Fund II (Dollar) (2011) Dec-21 674,509 (394,357 ) 689,439 409,287 — N/A 52,883 26,163 — — — Real Estate Opportunities REOC Fund (2011) Oct-23 57,299 (43,758 ) 41,617 28,076 — N/A 2,906 2,681 1,187 — — $ 830,361 $ 955,289 $ 262,821 $ — $ — Continued on next page. Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Credit PE Funds in Investment Period or Commitment Period FCO Managed Accounts (2010-2015) Jun-24 to Feb-28 $ 834,923 $ (342,687 ) $ 659,531 $ 167,295 $ 4,358 $ 1,911 $ 20,812 $ 9,767 $ 2,605 $ — $ — Life Settlements Fund (2010) Dec-22 406,548 (299,330 ) 70,386 (36,832 ) 88,508 125,340 — — — — — Life Settlements Fund MA (2010) Dec-22 33,321 (24,482 ) 5,519 (3,320 ) 7,266 10,586 — — — — — Real Estate Opportunities Fund II (2014) May-27 391,421 (56,471 ) 371,321 36,371 — N/A 6,145 — — — — Japan Opportunity Fund III (Yen) (2014) Dec-24 144,822 — 163,488 18,666 — N/A 3,700 — — — — Japan Opportunity Fund III (Dollar) (2014) Dec-24 108,247 — 125,131 16,884 — N/A 3,244 — — — — Credit Opportunities Fund IV (2015) Feb-27 521,250 (31,249 ) 510,715 20,714 — N/A 2,117 — — — — Global Opportunities Fund II (2015) Jul-26 9,330 (36 ) 8,577 (717 ) 195 912 — — — — — CFT Co-invest Fund (CAD) (2015) Oct-25 11,995 — 11,791 (204 ) 29 233 — — — — — CFT Co-invest Fund (USD) (2015) Oct-25 85,154 — 85,047 (107 ) 205 312 — — — — — $ 36,018 $ 9,767 $ 2,605 $ — $ — Publicly Traded Permanent Capital Vehicles Equity Eligible for Incentive (L) Gain to Cross Incentive Income Threshold (F) Undistributed Incentive Income (O) Life-to-Date Incentive Income Crystallized (P) Newcastle $ 751,544 $ (F) $ N/A $ 41,283 Eurocastle 331,145 — — 42,147 New Residential 2,714,461 — N/A 86,576 New Media 645,007 — N/A 29,800 New Senior 1,075,389 578 N/A — FTAI 1,181,237 9,156 — — Incentive Income Eligible Gain to Cross Incentive Income Threshold (M) Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold (N) Undistributed Incentive Year to Date Incentive Income Crystallized (P) Credit Hedge Funds Special Opportunities Funds (S) Main fund investments $ 4,793,583 $ — 100.0 % $ — $ 52,227 Sidepocket investments (Q) 42,399 7 N/A 2,911 — Sidepocket investments - redeemers (R) 141,767 48,640 N/A 4,880 — Main fund investments (liquidating) (T) 426,332 — 100.0 % 54,380 25,172 Managed accounts 1,512 49,209 0.0 % — — Worden Funds Main fund investments 246,827 3,713 85.3 % — 791 Fortress Japan Income Fund (Yen only) Main fund investments 87,832 N/A 100.0 % — 364 Value Recovery Funds (U) Managed accounts 5,734 7,342 33.0 % 29 — Liquid Hedge Funds Macro Funds (S) Sidepocket investments - redeemers (R) $ 100,304 $ 77,947 N/A $ 801 $ 121 Fortress Convex Asia Funds (S) Main fund investments 133,327 11,804 0.0 % — 56 Fortress Partners Funds (S) Main fund investments 2,914 7,851 0.0 % — 49 Sidepocket investments (Q) 59,452 2,175 N/A 4,514 — Fortress Centaurus Global Funds (S) Main fund investments 178,799 2,794 48.0 % — 673 Logan Circle Main fund investments $ 67,393 $ — 100.0 % $ — $ 127 Managed accounts 201,606 3,029 27.2 % — 77 (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) For fund investors whose NAV is below the incentive income threshold, represents the gain needed for these investors to achieve the current relevant performance thresholds, assuming the gain described in (D) above is already achieved. (F) For fund investors whose NAV is below the incentive income threshold, represents the immediate increase in NAV needed for these investors 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 entity's applicable supplemental measure of operating performance needed for Fortress to begin earning incentive income. As of December 31, 2015 , 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. In April 2015, Fortress entered into an amended management agreement with Eurocastle, which reset the earnings threshold for Fortress to earn incentive income. (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 undistributed incentive income amounts presented in this table are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. As of December 31, 2015 , a portion of Fund V and Long Dated Value Fund I's capital is above their 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 December 31, 2015 , Fortress held $20.9 million of such amounts on behalf of employees related to all of the private equity funds. Subsequent to December 31, 2015, Fortress paid $66.9 million to Fund III representing prior net incentive income distributions received ( $45.1 million net of employee amounts). Following such payment, no remaining clawback exists for Fund III. (K) The Fund I distributed incentive income amount is presented for the total fund, of which Fortress was entitled to approximately 50% . (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) Such amount represents, for those investors whose NAV is below the performance threshold, the amount by which their aggregate incentive income thresholds exceed their aggregate NAVs. "Incentive income threshold" or "high water mark" means the immediate increase in NAV needed for Fortress to begin earning incentive income. 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) For hedge funds, 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. For Eurocastle and FTAI, the amount disclosed, if any, represents the amount of additional incentive income Fortress would receive if the measurement period had occurred at the end of the reporting period. The undistributed incentive income amounts presented in this table are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. (P) For hedge funds, represents the amount of incentive income Fortress has earned 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. All of the capital of WWTAI, formerly a private fund managed by Fortress, was contributed to FTAI which completed its IPO in May 2015. Fortress earned $7.0 million in life-to-date incentive income which is not subject to clawback and was not included in the table above. Of the $7.0 million in incentive income from WWTAI, Fortress received $5.9 million in FTAI common shares based on the share price at IPO. A portion of the incentive income crystallized amounts are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. (Q) 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. (R) Represents investments held in sidepockets for investors with no corresponding investment in the related main fund investments. (S) Includes onshore and offshore funds. In the fourth quarter of 2015, Fortress closed the Fortress Macro Funds and related managed accounts. (T) Relates to accounts where investors have provided return of capital notices and are subject to payout as underlying fund investments are realized. (U) Excludes the Value Recovery Funds which had a NAV of $95.8 million at December 31, 2015 . 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. Private Equity Funds The following table presents certain information with respect to Fortress’s management agreements with the private equity funds as of December 31, 2015 . Fortress and Total Affiliates Carrying Value Percent of Longest Longest Annual Incentive Incentive Commitments Commitments of Fortress's Commitments Period Termination Management Income Threshold (A) (B) Investments Drawn Ends Date (C) Fee (D) (E) Return (E) $ 17,034,844 $ 2,167,931 $ 608,728 94.5% Sep-2016 Sep-2024 1.0% - 1.5% 10% - 20% 8% - 10% (A) Represents the total amount of capital originally committed by investors to these funds. This capital can be called, or drawn, for new investments during the capital commitment period, generally up to three years for private equity funds. Subsequent to the capital commitment period, it may only be drawn to maintain ongoing business as permitted by the applicable fund agreement. (B) Affiliate commitments are comprised of the following. Fortress’s remaining commitments as of December 31, 2015 are discussed in Note 10. Employees, Former Other Fortress Total Employees and BOD Members Principals Funds Affiliates Fortress Total $ 260,127 $ 543,605 $ 701,996 $ 1,505,728 $ 662,203 $ 2,167,931 (C) Including the assumed exercise of all available extensions, which in some cases require the approval of the applicable fund advisory board. (D) Expressed as a percentage. This percent is generally applied to the capital commitment amount during the capital commitment periods and to invested capital (as defined, or NAV on an investment by investment basis, if lower) thereafter. In some funds, management fee rates vary depending on the size of commitments. Affiliate commitments are not charged management fees. For certain funds formed after March 2006 which are no longer in the capital commitment period, management fees are based on the value of publicly traded investments. The weighted average (by AUM) management fee rate as of December 31, 2015 was approximately 1.2% . (E) Expressed as a percent of the total returns of the funds. The incentive income is subject to: (i) the achievement of a cumulative incentive income threshold return payable to the third party investors in the funds, which is the minimum return these investors must receive in order for incentive income to be paid, and (ii) a contingent repayment or clawback provision which requires amounts previously distributed as incentive income to be returned to each fund if, upon liquidation of such fund, such amounts exceeded the actual amount of incentive income due. Affiliate commitments are not subject to incentive income. The weighted average (by AUM) incentive income rate as of December 31, 2015 was approximately 19.7% , and the weighted average (by AUM) threshold rate was approximately 8.1% . Pursuant to profit sharing arrangements, certain of Fortress’s employees are entitled to a portion of the incentive income received from the private equity funds. As of December 31, 2015 , for funds where Fortress is entitled to incentive income and profit sharing has been assigned, this portion was equal to approximately 27.4% , based on a weighted average by total capital commitments. Subsequent to December 31, 2015, Fortress paid $66.9 million to Fund III representing prior net incentive income distributions received ( $45.1 million net of employee amounts). Following such payment, no remaining clawback exists for Fund III. Effective January 1, 2016, Fortress no longer earns management fees from Fund III and Fund III Coinvestment which had AUM of $0.7 billion as of December 31, 2015. During 2014, certain PE Funds (Fund II, FRID and FRIC) substantially liquidated their respective remaining investments. These funds distributed a majority of the sale of proceeds to their respective investors and final liquidation was completed in November and December 2014 for FRID and FRIC, respectively. During 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. During December 2015, Fortress received $0.7 million of incentive income from Fund II as a result of the final liquidation of Fund II. Permanent Capital Vehicles The publicly traded permanent capital vehicles are comprised of Newcastle (NYSE: NCT), New Residential (NYSE: NRZ), New Media (NYSE: NEWM), New Senior (NYSE: SNR), Eurocastle (NYSE Euronext, Amsterdam: ECT) and FTAI (NYSE: FTAI). Annual Incentive Incentive Income Carrying Value of Management Fee (A) Income (B) Threshold Return (B) Fortress's Investments (C) 0.75% - 1.50% 10% - 25% 8% - 10% $ 20,518 (A) Expressed as a percent of contributed capital or book equity (as defined). (B) The incentive income from publicly traded capital vehicles is earned either annually or quarterly on a cumulative basis equal to t

INVESTMENTS AND FAIR VALUE

INVESTMENTS AND FAIR VALUE	12 Months Ended
	Dec. 31, 2015
Investments and Fair Value [Abstract]
INVESTMENTS AND FAIR VALUE	INVESTMENTS AND FAIR VALUE Investments consist primarily of investments in equity method investees and options in certain investees. The investees are primarily Fortress Funds. Investments can be summarized as follows: December 31, 2015 December 31, 2014 Equity method and other investees $ 1,034,189 $ 1,106,338 Equity method investees, held at fair value (A) 21,600 15,207 Total investments $ 1,055,789 $ 1,121,545 Options in equity method investees $ 30,427 $ 71,844 (A) Includes the publicly traded private equity portfolio companies and publicly traded permanent capital vehicles, including FTAI which completed its IPO in May 2015 (see Note 3). Gains (losses) are summarized as follows: Year Ended December 31, 2015 2014 2013 Net realized gains (losses) $ 4,495 $ (8,431 ) $ 1,247 Net realized gains (losses) from affiliate investments (A) 31,751 47,624 12,030 Net unrealized gains (losses) (6,127 ) 25,661 6,273 Net unrealized gains (losses) from affiliate investments (A) (49,038 ) (76,611 ) 34,383 Total gains (losses) $ (18,919 ) $ (11,757 ) $ 53,933 (A) Includes the impact of the exercise of options in New Residential in June 2015 and the sale of GAGFAH shares which was completed in June 2014. These gains (losses) were generated as follows: Year Ended December 31, 2015 2014 2013 Mark to fair value on affiliate investments and options $ (17,175 ) $ (28,591 ) $ 46,371 Mark to fair value on derivatives 1,784 26,715 8,402 Mark to fair value on equity securities (509 ) 965 2,962 Gains (losses) on digital currency (Bitcoin) (1,175 ) (9,470 ) (3,702 ) Other (1,844 ) (1,376 ) (100 ) Total gains (losses) $ (18,919 ) $ (11,757 ) $ 53,933 The underlying investments of the Fortress Funds are diversified by issuer, industry and geographic location. They are comprised of both equity and debt investments, as well as derivatives, including investments in affiliated entities. A majority of the investments are in the United States, with investments also in Western Europe and Asia. There are some concentrations, mainly in the private equity funds, in the financial services, transportation and infrastructure, leisure and gaming, real estate (including Florida commercial real estate), media and senior living sectors, including certain individual investments within the funds which are significant to the funds as a whole. Furthermore, the Fortress Funds have concentrations of counterparty risk with respect to derivatives and borrowings. Since Fortress’s investments in the various Fortress Funds are not equal, Fortress’s concentrations from a management fee and incentive income perspective and its concentrations from an investment perspective are different. From an investment perspective, Fortress’s most significant investment as of December 31, 2015 , which comprised approximately 25% of its equity method investments, is in a fund with a single investment which focuses on the rail transportation and real estate sectors in Florida. Investments Fortress holds investments in certain Fortress Funds which are primarily 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. A summary of the changes in Fortress’s investments is as follows: Private Equity Funds Publicly Traded Portfolio Companies (A) Permanent Capital Vehicles (A) Credit Hedge Funds Credit PE Funds Liquid Hedge Funds (B) Other Total Investment - December 31, 2013 $ 786,093 $ 63,001 $ 19,188 $ 58,825 $ 159,044 $ 158,920 $ 8,195 $ 1,253,266 Earnings from equity method and other 36,413 N/A 70 8,236 28,693 3,844 943 78,199 Contributions to equity method and other 2,994 — 5,640 168,699 43,331 89,324 596 310,584 Distributions of earnings from equity (70,409 ) N/A (79 ) (7,483 ) (28,477 ) (4,487 ) (32 ) (110,967 ) Distributions of capital from equity (78,155 ) N/A (4,148 ) (171,053 ) (17,124 ) (128,505 ) (118 ) (399,103 ) Total distributions from equity (148,564 ) N/A (4,227 ) (178,536 ) (45,601 ) (132,992 ) (150 ) (510,070 ) Consolidation of Investment Company — — — — — — 6,990 6,990 Mark to fair value - during period (D) (1,795 ) 5,200 (936 ) N/A N/A N/A (657 ) 1,812 Translation adjustment (7 ) (742 ) (279 ) — (2,338 ) — — (3,366 ) Dispositions — (66,424 ) — — (2 ) — (210 ) (66,636 ) Reclassification to Due to Affiliates (E) 2,232 — — — — — — 2,232 Deconsolidation of Liquid Hedge Fund (F) — — — — — 48,534 — 48,534 Investment - December 31, 2014 677,366 1,035 19,456 57,224 183,127 167,630 15,707 1,121,545 Earnings (losses) from equity method and (49,346 ) N/A 89 3,920 19,630 (6,387 ) (821 ) (32,915 ) Contributions to equity method and other 5,227 50 7,742 118,332 43,005 13,844 825 189,025 Distributions of earnings from equity (14,342 ) N/A (173 ) (3,511 ) (22,909 ) (658 ) (2,265 ) (43,858 ) Distributions of capital from equity (7,899 ) N/A (216 ) (131,161 ) (77,003 ) (37,660 ) (22 ) (253,961 ) Total distributions from equity (22,241 ) N/A (389 ) (134,672 ) (99,912 ) (38,318 ) (2,287 ) (297,819 ) Mark to fair value - during period (D) (412 ) (3 ) (6,152 ) N/A N/A N/A (991 ) (7,558 ) Net purchases of investments by — — — — 41,985 — 10,391 52,376 Translation adjustment (1,413 ) — (228 ) — (123 ) — — (1,764 ) Dispositions (2,683 ) — — — (48 ) — — (2,731 ) Reclassification to Due to Affiliates (E) 2,230 — — — — — — 2,230 Retained interest in Graticule (Note 1) — — — — — 33,400 — 33,400 Investment - December 31, 2015 $ 608,728 $ 1,082 $ 20,518 $ 44,804 $ 187,664 $ 170,169 $ 22,824 $ 1,055,789 Undistributed earnings - December 31, $ 42,572 $ N/A $ — $ 3,404 $ 10,346 $ 3,136 $ — $ 59,458 (A) Fortress elected to record the common shares held in the publicly traded private equity portfolio companies and publicly traded permanent capital vehicles, including FTAI which completed its IPO in May 2015 (see Note 3), at fair value pursuant to the fair value option for financial instruments. (B) Includes Fortress's investment in Affiliated Managers. (C) The amounts presented above can be reconciled to the amounts presented on the statement of cash flows as follows: Year Ended December 31, 2015 2014 Contributions Distributions of Capital Contributions Distributions of Capital Per Consolidated Statements of Cash Flows $ 33,855 $ (235,290 ) $ 36,110 $ (379,940 ) Investments of incentive receivable amounts 138,026 — 258,023 — Change in distributions payable out of Fortress — (177 ) — 172 Net funded* 17,094 (17,094 ) 16,451 (16,451 ) Other 50 (1,400 ) — (2,884 ) Per Above $ 189,025 $ (253,961 ) $ 310,584 $ (399,103 ) * 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. (D) Recorded to Gains (Losses). (E) Represents a portion of the general partner liability (Note 10). (F) In December 2014, Fortress deconsolidated a liquid hedge fund (Note 4) and the amount disclosed represents Fortress’s investment in the fund as of the date of deconsolidation. In December 2015, Fortress deconsolidated a credit PE fund and subsequently received a $42.0 million capital distribution from the fund (Note 4). 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. 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 (B) December 31, (or year then ended) 2015 2014 2013 Assets $ 11,950,687 $ 13,484,372 Debt (3,144 ) (3,251 ) Other liabilities (151,778 ) (143,363 ) Equity $ 11,795,765 $ 13,337,758 Fortress’s Investment $ 608,728 $ 677,366 Ownership (A) 5.2 % 5.1 % Revenues and gains (losses) on investments $ (1,126,186 ) $ 731,574 $ 2,335,934 Expenses (178,022 ) (194,509 ) (208,301 ) Net Income (Loss) $ (1,304,208 ) $ 537,065 $ 2,127,633 Fortress’s earnings (losses) from equity method investees $ (49,346 ) $ 36,413 $ 81,470 Credit Hedge Funds Credit PE Funds (B) (C) December 31, (or year then ended) 2015 2014 2013 2015 2014 2013 Assets $ 10,959,844 $ 11,349,879 $ 12,770,674 $ 11,992,369 Debt (4,413,323 ) (4,621,360 ) (259,114 ) (67,618 ) Other liabilities (174,397 ) (283,818 ) (373,224 ) (824,837 ) Non-controlling interest (11,068 ) (14,406 ) (3,963 ) (4,852 ) Equity $ 6,361,056 $ 6,430,295 $ 12,134,373 $ 11,095,062 Fortress’s Investment $ 44,804 $ 57,224 $ 187,664 $ 183,127 Ownership (A) 0.7 % 0.9 % 1.5 % 1.7 % Revenues and gains (losses) on $ 747,861 $ 1,011,969 $ 1,295,945 $ 1,718,546 $ 2,381,032 $ 1,835,118 Expenses (403,646 ) (340,373 ) (255,222 ) (310,125 ) (369,653 ) (325,436 ) Net Income (Loss) $ 344,215 $ 671,596 $ 1,040,723 $ 1,408,421 $ 2,011,379 $ 1,509,682 Fortress’s earnings (losses) from equity method investees $ 3,920 $ 8,236 $ 12,242 $ 19,630 $ 28,693 $ 29,824 Liquid Hedge Funds (D) December 31, (or year then ended) 2015 2014 2013 Assets $ 2,279,590 $ 13,132,531 Debt — — Other liabilities (829,515 ) (5,733,970 ) Non-controlling interest — — Equity $ 1,450,075 $ 7,398,561 Fortress’s Investment $ 170,169 $ 167,630 Ownership (A) 11.7 % 2.3 % Revenues and gains (losses) on investments $ (190,659 ) $ 220,958 $ 838,506 Expenses (212,545 ) (219,303 ) (159,892 ) Net Income (Loss) $ (403,204 ) $ 1,655 $ 678,614 Fortress’s earnings (losses) from equity method investees $ (6,387 ) $ 3,844 $ 13,124 (A) Excludes ownership interests held by other Fortress Funds, the Principals, employees, directors 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 periods ended September 30, 2015, 2014 and 2013 , respectively). 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, as permitted, 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. (D) For liquid hedge funds, 2015 includes amounts related to Fortress's retained interest in Graticule. Amounts in 2014 and 2013 include the Fortress Asia Macro Funds and related managed accounts which were transferred to Graticule in January 2015. 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 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. These entities are primarily Fortress Funds which are VOEs and 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 and/or manager or co-manager. Consolidation and Deconsolidation of certain funds In July 2015, Fortress formed a new credit PE fund. Fortress determined that the fund qualified as a variable interest entity and that it was the primary beneficiary and therefore consolidated the fund. During December 2015, a reconsideration event occurred at the credit PE fund whereby the credit PE fund no longer qualified as a variable interest entity. The credit PE fund is deemed to be a voting interest entity and Fortress does not have control over the fund since the unrelated limited partners have the substantive ability to liquidate the fund or otherwise remove Fortress as general partner without cause based on a simple unaffiliated majority vote. As such, Fortress deconsolidated the credit PE fund in December 2015. In addition, subsequent to deconsolidation of the fund, Fortress received a $42.0 million capital distribution from the fund. The capital distribution is reported as part of investing activities in the statement of cash flows. Fortress retained a $0.3 million equity method investment in the credit PE fund. The retained investment is included within Investments on the Consolidated Balance Sheet. In 2014, Fortress formed a new liquid hedge fund. Fortress determined that the fund qualified as a variable interest entity and that it was the primary beneficiary and therefore consolidated the fund. The liquid hedge fund allowed investors to redeem their interests on a periodic basis at their net asset value. During December 2014, a reconsideration event occurred at the liquid hedge fund whereby the liquid hedge fund no longer qualified as a variable interest entity. The liquid hedge fund was deemed to be a voting interest entity and Fortress does not have control over the fund since the 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. As such, Fortress deconsolidated the liquid hedge fund in December 2014. The deconsolidation of the liquid hedge fund resulted in non-cash investing activity of $56.5 million in the statement of cash flows. Fortress retained a $48.5 million equity method investment in the liquid hedge fund. The retained investment is included within Investments on the Consolidated Balance Sheet. The following tables set forth certain information regarding VIEs in which Fortress held a variable interest as of December 31, 2015 and 2014 , respectively. Fortress is not Primary Beneficiary December 31, 2015 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 1 $ 136,129 $ — $ 1,959 (D) Permanent Capital Vehicles 6 23,618,598 15,581,168 114,228 (C) Credit Hedge Funds 8 1,912,019 426,988 5,405 (D) (E) Credit PE Funds 35 990,008 232,082 9,659 (D) (E) Liquid Hedge Funds 4 364,535 1,270 39,192 (D) (E) Fortress is not Primary Beneficiary December 31, 2014 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 2 $ 85,553 $ — $ 56 (D) Permanent Capital Vehicles 5 14,539,141 10,336,207 154,346 (C) Credit Hedge Funds 8 1,976,328 152,806 25,474 (D) (E) Credit PE Funds 30 735,855 143,743 5,897 (D) (E) Liquid Hedge Funds 2 3,070,203 432,580 7,094 (D) Fortress is Primary Beneficiary December 31, 2015 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 9 $ 71,277 $ — $ 18,666 (F) (G) Credit PE Funds 2 400 — 20 (F) Liquid Hedge Funds 1 6,126 — 2,821 (F) Logan Circle 1 4,468 — 4,317 (F) Fortress is Primary Beneficiary December 31, 2014 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 9 $ 90,723 $ — $ 20,368 (F) (G) Credit PE Funds 2 434 — 22 (F) Liquid Hedge Funds 3 8,714 — 4,125 (F) Logan Circle 1 6,566 — 4,783 (F) (A) Represents financial obligations of the VIEs which are not recourse to Fortress and assets of the VIEs which Fortress does not have the right to make use of to satisfy its obligations. 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. 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. Of the financial obligations represented herein as of December 31, 2015 , for VIEs where Fortress is not the primary beneficiary, $15,192.6 million , $423.4 million , $232.1 million and $1.2 million represent financial borrowings which have weighted average maturities of 2.0 years, 9.7 years, 2.3 years and 11.0 years for the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. Of the financial obligations represented herein as of December 31, 2014 , $9,911.4 million , $151.7 million , and $143.7 million represent financial borrowings which have weighted average maturities of 1.9 years, 7.6 years, and 2.3 years for the permanent capital vehicles, credit hedge funds, and credit PE funds, respectively. (B) Represents Fortress’s maximum exposure to loss with respect to these entities, which includes 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 permanent capital vehicles 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 group of at-risk equity holders does not have the power, through voting rights or similar rights, to direct the activities that most significantly affect the success of the entity or impact the entity's economic performance. Fortress is not the primary beneficiary of these entities. Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to these entities. (D) Includes entities, primarily investing vehicles set up on behalf of the Fortress Funds to make investments, 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 power, through voting rights or similar rights, to direct 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. Fortress is not the primary beneficiary of these entities. Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to these entities. (E) Includes entities that are a VIE because the entity's equity investment at-risk is determined to be insufficient. Fortress is not the primary beneficiary of these entities because Fortress does not have the power to direct the activities that most significantly impact the economic performance of these entities. (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 either (i) the group of at-risk equity holders does not have the power, through voting rights or similar rights, to direct 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. 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 or the obligation to absorb losses from the VIE that potentially could be significant to the entity. (G) 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. (H) As of December 31, 2015 , for VIEs where Fortress is not the primary beneficiary, Fortress's investment included: (i) management fees receivable of $17.3 million which is comprised of $12.3 million , less than $0.1 million , $0.8 million and $4.1 million from the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively, (ii) incentive income receivable of $39.7 million which is comprised of $37.3 million and $2.4 million from the permanent capital vehicles and credit hedge funds, respectively, and (iii) expense reimbursements, dividends and other receivables of $16.7 million which is comprised of $1.9 million , $13.6 million , $0.9 million , $0.1 million and $0.2 million from the private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. As of December 31, 2014 , for VIEs where Fortress is not the primary beneficiary, Fortress's investment included: (i) management fees receivable of $7.1 million which is comprised of $6.1 million , $0.5 million and $0.5 million from the permanent capital vehicles, credit hedge funds and credit PE funds, respectively, (ii) incentive income receivable of $79.8 million which is comprised of $55.3 million , $21.9 million and $2.6 million from the permanent capital vehicles, credit hedge funds and liquid hedge funds, respectively and (iii) expense reimbursements, dividends and other receivables of $11.9 million which is comprised of $6.9 million , $1.1 million , $0.1 million and $3.8 million from the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. As of December 31, 2015 , for VIEs where Fortress is the primary beneficiary, Fortress's investment included: (i) management fees receivable of less than $0.1 million from Logan Circle, and (ii) advances of $10.1 million to an operating subsidiary of one of the private equity funds. These receivables and advances are eliminated in consolidation but still represent Fortress’s economic exposure to the VIEs. As of December 31, 2014 , for VIEs where Fortress was the primary beneficiary, Fortress's investment included: (i) management fees receivable of less than $0.1 million from Logan Circle, and (ii) advances of $10.3 million to an operating subsidiary of one of the private equity funds. These receivables and advances are eliminated in consolidation but still represent Fortress's economic exposure to the VIEs. 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 December 31, 2015 December 31, 2014 Valuation Method Assets (within Investments) Common shares of publicly traded permanent capital vehicles (A) $ 20,518 $ 14,172 Level 1 - Quoted prices in active markets for identical assets Common stock of publicly traded 1,082 1,035 Level 1 - Quoted prices in active markets for identical assets Total equity method investments $ 21,600 $ 15,207 Options in equity method investees $ 30,427 $ 71,844 Level 2 - Option valuation models using significant observable inputs Assets (within Other Assets) Derivatives 22,146 27,105 Level 2 - See below Equity Securities (B) — 17,627 Level 1 - Quoted prices in active markets for identical assets Liabilities (within Accrued Compensation and Benefits) Options in affiliates granted to (3,010 ) (8,356 ) Level 2 - Option valuation models using significant observable inputs Liabilities (within Other Liabilities) Derivatives (2,201 ) (932 ) Level 2 - See below (A) FTAI completed its IPO in May 2015 and Fortress elected to record its interest at fair value pursuant to the fair value option for financial instruments. (B) These equity securities were held at fair value and classified as trading and were all sold during the first quarter of 2015. See Note 5 regarding the fair value of outstanding debt. Publicly Traded Permanent Capital Vehicle Options Fully vested options are issued to Fortress by the publicly traded permanent capital vehicles as compensation for services performed in raising capital for these entities. These options are accounted for at fair value with subsequent changes in fair value recognized in income as Gains (Losses). The assumptions used in valuing the options at December 31, 2015 were: Risk-Free Rate Dividend Yield (A) Volatility Newcastle 0.80% - 2.11% 10.93% - 17.99% 26.40% - 35.51% New Residential 0.80% - 2.17% 9.83% - 18.13% 25.76% - 28.81% New Media 2.11% - 2.14% 4.30% - 4.46% 36.15% New Senior 0.80% - 2.17% 8.13% - 14.70% 23.21% - 26.62% Eurocastle 0.05% - 0.93% 4.49% - 5.68% 24.81% - 26.89% (A) Options which are due to expire prior to the expected payment of future dividends are valued using a 0.00% dividend yield. All of the Newcastle, New Residential, New Media and New Senior options were fully vested on issuance and become exercisable over thirty months and have a ten -year term. With the exception of Eurocastle’s May 2013 options grant, which became exercisable in October 2013, all of the Eurocastle options were fully vested and exercisable on issuance, and have a ten -year term. All of the options held by Fortress in the publicly traded permanent capital vehicles incorporate effects of reverse stock splits or spin-offs. Fortress has granted rights, which Fortress refers to as tandem options, in the options it holds in certain publicly traded permanent capital vehicles it manages to certain of its employees. The value of these rights is recorded as accrued profit sharing compensation expense and the related liability is marked to fair value as compensation expense until such time as the rights are exercised or expire. The following table summarizes certain Newcastle options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Strike Price Fair Value of Options Issued As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2011 718,750 $1.00 $1,182 583,149 — 583,149 2012 1,121,250 $1.00 $2,017 949,997 — 949,997 2013 2,978,348 $2.32 - $3.57 $4,513 2,978,338 266,657 2,711,681 2014 765,416 $4.01 $360 765,416 — 765,416 The following table summarizes certain New Residential options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2012 3,363,750 $ 6.82 - $ 7.34 $11,768 25,000 — 25,000 2013 4,025,000 $10.24 - $11.48 $14,428 1,936,068 1,100,497 835,571 2014 1,437,500 $12.20 $1,604 1,437,500 258,750 1,178,750 2015 8,543,539 $15.25 - $15.88 $12,705 8,543,539 — 8,543,539 The following table summarizes certain New Senior options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2011 718,750 $ 4.09 - $ 7.18 $4,535 465,832 — 465,832 2012 1,121,250 $7.66 - $8.75 $7,739 916,029 — 916,029 2013 2,978,348 $14.42 - $19.23 $17,328 2,978,338 266,657 2,711,681 2014 765,416 $20.89 $1,383 765,416 — 765,416 2015 2,011,409 $13.75 $2,978 2,011,409 — 2,011,409 The following table summarizes New Media options held by Fortress: Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2014 745,062 $15.71 $2,963 745,062 92,751 652,311 2015 700,000 $21.70 $4,144 700,000 — 700,000 The following table summarizes select Eurocastle options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2013 1,500,000 €7.25 €4,807 1,500,000 — 1,500,000 2015 3,976,299 €7.85 €4,756 3,976,299 — 3,976,299 The following table summarizes options in the publicly traded permanent capital vehicles held as of December 31, 2015 , which were issued prior to 2011: Entity Weighted Average Option Strike Price Options held by Fortress Newcastle $ 13.16 115,239 New Senior $ 56.01 115,239 New Residential $ 31.31 345,720 Eurocastle € 6,151.76 18,886 In January 2016, Fortress granted tandem options in 1.7 million , 0.4 million and 0.1 million of the options it holds in New Residential, New Senior and New Media, respectively, to certain employees. The estimated value of these New Residential, New Senior and New Media tandem options are $0.3 million , $0.1 million and $0.3 million , respectively. Derivatives Fortress uses derivative instruments to manage its 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 the 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 December 31, 2015 (or year ended) Maturity Classification (A) Fair Value Notional Amount Gains/(Losses) (B) Date Foreign exchange option contracts Other Assets $ 21,884 ¥ 40,160,526 $ 1,788 Feb-16 - Mar-18 Foreign exchange option contracts Other Liabilities $ (994 ) ¥ 8,593,346 $ (532 ) Jun-16 - Mar-18 Foreign exchange forward contracts Other Assets $ 262 ¥ 2,568,543 $ 186 Jan-16 - Dec-17 Foreign exchange forward contracts Other Liabilities $ (590 ) ¥ 6,106,852 $ (590 ) Jan-16 - Jun-16 Foreign exchange forward contracts Other Liabilities $ (617 ) C$ 123,802 $ (617 ) Jun-16 (A) Fortress has a master netting agreement with its counterparty. (B) Reflects unrealized gains (losses) related to contracts existing at period end. Total net foreign exchange gains (losses) from derivatives were $1.8 million , $26.7 million and $8.4 million during the years ended December 31, 2015 , 2014 and 2013 . Fortress's average notional amount outstanding for the year ended December 31, 2015 was $492.3 million . The following tables summarizes the fair value of Fortress's derivative contacts on a gross basis and any amount of offset as permitted by netting agreements as of December 31, 2015 . Net Amounts of Gross Amounts Offset Assets Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Assets as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Assets December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ 23,616 $ (1,732 ) $ 21,884 Foreign exchange forward contracts 262 — 262 $ 23,878 $ (1,732 ) $ 22,146 Net Amounts of Gross Amounts Offset Liabilities Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Liabilities as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Liabilities December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ (2,054 ) $ 1,060 $ (994 ) Foreign exchange forward contracts (1,207 ) — (1,207 ) $ (3,261 ) $ 1,060 $ (2,201 ) The counterparty on the outstanding derivatives is Citibank N.A.

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS The following table presents summarized information regarding Fortress's debt obligations: Face Amount and Carrying Value Contractual Final December 31, 2015 December 31, Interest Stated Amount Debt Obligation 2015 2014 Rate Maturity Available for Draws Revolving credit agreement (A) (B) $ 75,000 $ 75,000 LIBOR+2.50% (C) Feb 2016 $ 72,332 Promissory note (D) 155,677 — 5.00% Nov 2017 N/A Total $ 230,677 $ 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. (D) Issued to a principal in exchange for his Fortress Operating Group units and Class B shares in Fortress. Management believes the fair value of its outstanding debt was $231.8 million as of December 31, 2015 (classified as a level 3 valuation, which is based on internal models using discounted future contractual cash flows and market interest rates). In February 2013, Fortress entered into a $150.0 million revolving credit facility (the "2013 Credit Agreement") with a $15.0 million letter of credit subfacility and repaid its existing $60.0 million revolving credit facility. The 2013 Credit Agreement generally bears interest at an annual rate equal to LIBOR plus an applicable rate that fluctuates depending upon Fortress's credit rating and a commitment fee on undrawn amounts that fluctuates depending upon Fortress's credit rating, as well as other customary fees. In January 2014, in connection with the announcement of the Fortress Asia Macro Funds and related managed accounts transferring to Affiliated Managers, Fortress entered into a First Amendment, Consent and Waiver (the "Amendment") to the 2013 Credit Agreement. Pursuant to the Amendment, among other things, the lenders consented to the consummation of the transaction and certain amendments to the 2013 Credit Agreement, primarily the definition of AUM and Consolidated EBITDA, in order to account for its retained economic interests. In November 2015, Fortress purchased 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million , from Michael Novogratz, a principal, officer and director of Fortress who retired effective January 2016. In connection with this purchase, Fortress paid $100.0 million of cash in November 2015 and issued a $155.7 million promissory note, of which one-half of the principal amount matures in November 2016 and the remainder in November 2017. In addition, Fortress entered into a consent and waiver with the lenders under the 2013 Credit Agreement for their consent to this transaction. In January 2016, Fortress entered into a new $275.0 million senior unsecured revolving credit facility (the "2016 Credit Agreement") with a $15.0 million letter of credit subfacility and repaid the 2013 Credit Agreement. The 2016 Credit Agreement is not collateralized by the assets of Fortress Operating Group. After giving effect to the initial extensions of credit thereunder of $75.0 million , and a subsequent borrowing of $100.0 million in February 2016, approximately $97.3 million was available to be drawn. The 2016 Credit Agreement generally bears interest at an annual rate equal to LIBOR plus an applicable rate that fluctuates depending upon the credit rating of the borrower's senior unsecured long-term debt and a commitment fee on undrawn amounts that fluctuates depending upon such credit rating, as well as other customary fees. The 2016 Credit Agreement matures in January 2021. Based upon the borrower's current credit rating, the interest rate is equal to LIBOR plus 1.75% per annum and the unused commitment fee is 0.25% per annum. Covenants Fortress Operating Group is required to prepay any amounts outstanding under the 2013 Credit Agreement upon the occurrence of certain events. The events of default under the 2013 Credit Agreement are typical of such agreements and include payment defaults, failure to comply with credit agreement covenants, cross-defaults to material indebtedness, bankruptcy and insolvency, and change of control. A default under the 2013 Credit Agreement would likely have a material, adverse impact on Fortress's liquidity. The 2013 Credit Agreement contains customary representations and warranties and affirmative and negative covenants that, among other things, restrict the ability of Fortress to create or incur certain liens, incur or guarantee additional indebtedness, merge or consolidate with other companies or transfer all or substantially all of their respective assets, transfer or sell assets, make restricted payments, engage in transactions with affiliates and insiders, and incur restrictions on the payment of dividends or other distributions and certain other contractual restrictions. These covenants are subject to a number of limitations and exceptions set forth in the 2013 Credit Agreement. In addition, Fortress Operating Group must not: • Permit AUM (as defined as Management Fee Earning Assets in the 2013 Credit Agreement) to be less than $25.0 billion as of the end of any calendar month; • Permit the Consolidated Leverage Ratio (a measure of Adjusted Net Funded Indebtedness compared to Consolidated EBITDA, each such term as defined in the 2013 Credit Agreement) to be greater than 2.00 to 1.0 as of the end of any fiscal quarter for the four quarter period ending on such date; or • Permit the Consolidated Interest Coverage Ratio (a measure of Consolidated EBITDA compared to Consolidated Interest Charges, each such term as defined in the 2013 Credit Agreement) to be less than 4.00 to 1.0 as of the end of any fiscal quarter for the four quarter period ending on such date. Fortress was in compliance with all of its debt covenants as of December 31, 2015 . The following table sets forth the financial covenant requirements as of December 31, 2015 . December 31, 2015 (dollars in millions) Requirement Actual Notes AUM, as defined ≥ $ 25,000 $ 46,563 (A) Consolidated Leverage Ratio ≤ 2.00 0.59 (B) Consolidated Interest Coverage Ratio ≥ 4.00 86.73 (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 of Management Fee Earning Assets contained in the 2013 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 2013 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. The borrower and the guarantors under the 2016 Credit Agreement are required to prepay any amounts outstanding under the 2016 Credit Agreement upon the occurrence of certain events. The events of default under the 2016 Credit Agreement are typical of such agreements and include payment defaults, failure to comply with credit agreement covenants, cross-defaults to material indebtedness, bankruptcy and insolvency, and change of control. A default under the 2016 Credit Agreement would likely have a material, adverse impact on Fortress's liquidity. The 2016 Credit Agreement contains customary representations and warranties and affirmative and negative covenants that, among other things, restrict the ability of the borrower, the guarantors and certain of their subsidiaries to create or incur certain liens, incur or guarantee additional indebtedness, merge or consolidate with other companies or transfer all or substantially all of their respective assets, transfer or sell assets, make restricted payments, and incur restrictions on the payment of dividends or other distributions. These covenants are subject to a number of limitations and exceptions set forth in the 2016 Credit Agreement. In addition, the borrower must not: • Permit AUM (as defined as Management Fee Earning Assets in the 2016 Credit Agreement) to be less than $30.0 billion as of the end of any fiscal quarter; • Permit the Consolidated Leverage Ratio (a measure of Adjusted Net Funded Indebtedness compared to Consolidated EBITDA, each such term as defined in the 2016 Credit Agreement) to be greater than 2.50 to 1.0 as of the end of any fiscal quarter for the four-quarter period ending on such date; or • Permit the Consolidated Interest Coverage Ratio (a measure of Consolidated EBITDA compared to Consolidated Interest Charges, each such term as defined in the 2016 Credit Agreement) to be less than 4.00 to 1.0 as of the end of any fiscal quarter for the four-quarter period ending on such date. If the 2016 Credit Agreement has been in effect as of December 31, 2015, Fortress would have been in compliance with the covenant requirements thereunder. Intercompany Debt As a result of Fortress’s initial public offering and related transactions, secondary public offerings, and other transactions, FIG Asset Co. LLC lent aggregate excess proceeds of approximately $802.3 million to FIG Corp. pursuant to a demand note, as amended. As of December 31, 2015 , the outstanding balance was approximately $667.7 million , including unpaid interest. This intercompany debt is eliminated in consolidation.

INCOME TAXES AND TAX RELATED PA

INCOME TAXES AND TAX RELATED PAYMENTS	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES AND TAX RELATED PAYMENTS	INCOME TAXES AND TAX RELATED PAYMENTS Fortress is a publicly traded partnership and has a wholly owned corporate subsidiary. Accordingly, a substantial portion of Fortress’s income related to Class A shares is earned by the corporate subsidiary and 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. 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. Equity-based compensation resulted in $12.5 million , $7.8 million and $26.0 million of recognized current tax benefit for the years ended December 31, 2015 , 2014 and 2013 , respectively. 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 stockholders' 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 year ended December 31, 2015 and 2014 , Fortress recorded $4.8 million and $3.5 million , to paid in capital for excess tax benefits from RSUs delivered during these periods 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 year ended December 31, 2013, Fortress has tax a shortfall of $24.6 million , which has been charged to income tax expense during this period. The provision for income taxes consists of the following: Year Ended December 31, 2015 2014 2013 Current Federal income tax expense (benefit) $ 8,552 $ 7,558 $ 1,185 Foreign income tax expense (benefit) 19,570 12,258 8,875 State and local income tax expense (benefit) 7,335 5,175 1,310 35,457 24,991 11,370 Deferred Federal income tax expense (benefit) 23,209 (1,051 ) 47,953 Foreign income tax expense (benefit) 3,472 1,115 65 State and local income tax expense (benefit) (A) (6,350 ) (18,108 ) 6,413 20,331 (18,044 ) 54,431 Total expense (benefit) $ 55,788 $ 6,947 $ 65,801 (A) During the year ended December 31, 2015 and 2014 New York City and New York State, respectively, enacted corporate tax law changes which increased the value of certain future tax benefits. For the years ended December 31, 2015 , 2014 and 2013 , deferred income taxes of $0.4 million , $0.5 million and $(0.7) million were credited (debited) to other comprehensive income, primarily related to foreign currency translation. Current income tax benefits of $1.7 million , $0.7 million and $0.0 million were credited to paid-in capital in those years, respectively, related to (i) dividend equivalent payments on RSUs (Note 9), as applicable, and (ii) distributions to Fortress Operating Group restricted partnership unit holders (Note 9), which are currently deductible for income tax purposes. Fortress established deferred tax assets in connection with its initial public offering and related transactions in 2007, as well as in connection with its subsequent public offering of shares. These transactions resulted in increases to the tax basis of FIG Corp.'s ownership interests in the assets owned by Fortress Operating Group. Fortress established these deferred tax assets for the expected tax benefits associated with the difference between the financial reporting basis of net assets and the tax basis of net assets. The establishment of the deferred tax assets increased additional paid in capital. These deferred tax assets reflect the tax impact of payments expected to be made under the tax receivable agreement (described below), which further increase Fortress’s deferred tax benefits and the estimated payments due under the tax receivable agreement. In November 2015, Fortress purchased from Mr. Novogratz 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate amount of $255.7 million . All of the Fortress Operating Group units and corresponding Class B shares were canceled and ceased to be outstanding. Additionally, in 2015 Fortress delivered Class A shares for vested RSUs (Note 8). As a result, FIG Corp. increased its ownership in the underlying Fortress Operating Group entities during the year ended December 31, 2015. FIG Corp. decreased its ownership in the underlying Fortress Operating Group entities during the year ended December 31, 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. FIG Corp. increased its ownership in the underlying Fortress Operating Group entities during 2013 through (i) the exchanges by the Principals and a former senior employee of Fortress Operating Group units and Class B shares for Class A shares (as described in Note 9) and (ii) the delivery of vested RSUs and RPUs (Note 8). As a result of the changes in ownership, the deferred tax asset was increased (decreased) by $17.2 million , $(8.0) million and $2.7 million with offsetting increases (decreases) of $2.2 million , $(3.5) million and $0.5 million to the valuation allowance (described below), in 2015 , 2014 and 2013 , respectively. In addition, the deferred tax asset was increased by $13.3 million , $48.5 million and $12.1 million related to a step-up in tax basis due to the share purchase and exchanges which will result in additional tax deductions, with offsetting increases in the valuation allowance of $0.9 million , $0.9 million and $0.9 million , while the liability for the tax receivable agreement was increased by $0.1 million , $39.1 million and $0.1 million to represent 85% of the expected cash tax savings resulting from the increase in tax basis deductions, in 2015 , 2014 and 2013 , respectively. Furthermore, deferred income taxes of $1.0 million was debited to paid-in capital related to the tax gain on treasury shares issued to employees in connection with equity-based compensation deliveries in 2013. The establishment of these net deferred tax assets, net of the change in the tax receivable agreement liability, also increased additional paid in capital. The realization of the deferred tax assets is dependent on the amount of Fortress’s future taxable income before deductions related to the establishment of the deferred tax asset. The deferred tax asset is comprised of a portion that would be realized in connection with future ordinary income and a portion that would be realized in connection with future capital gains. Fortress projects that it will have sufficient future taxable ordinary income in the normal course of business without any projected significant change in circumstances to fully realize the portion of the deferred tax asset that would be realized in connection with future ordinary income. Such projections do not include material changes in AUM or incentive income from the current levels. However, the projections do contain an estimated marginal growth assumption. Based on Fortress’s historical and projected taxable income, management has concluded that the realization of the portion of the deferred tax asset that would be realized in connection with future taxable ordinary income is more likely than not. If Fortress’s estimates change in the future and it is determined that it is more likely than not that some portion, or all, of this portion of the deferred tax asset will not be realized, a valuation allowance would be recorded for that portion. However, in most cases, any tax expense recorded in connection with the establishment of a valuation allowance or the reversal of a deferred tax asset would be partially offset by other income recorded in connection with a corresponding reduction of a portion of the tax receivable agreement liability (see below). The following table sets forth Fortress’s federal taxable income for historical periods before deductions relating to the establishment of the deferred tax assets, other than deferred tax assets arising from equity-based compensation, as well as the average ordinary income needed over the approximate period of the deductibility (approximately 15 years from the date of establishment, based on the amortization period of the tax basis intangible assets recorded) in order to fully realize the portion of the deferred tax asset that would be realized in connection with future ordinary income (in millions): 2011 $ 53.5 2012 80.9 2013 90.7 2014 150.9 2015: Estimated 143.9 2016 - 2023: Average Required $ 84.1 Fortress has made an assessment of the realizability of the portion of the deferred tax asset that would only be realized in connection with future capital gains. Fortress has established a full valuation allowance for this portion of the deferred tax asset as management does not believe that the projected generation of material taxable capital gains is sufficiently assured in the foreseeable future. The establishment of the valuation allowance resulted in a reduction of the obligations associated with the tax receivable agreement and a corresponding reduction of the deferred tax asset. Fortress recorded other income in connection with the adjustments to the tax receivable agreement liability. The tax effects of temporary differences have resulted in deferred income tax assets and liabilities as follows: December 31, 2015 2014 Pre-IPO equity transaction - tax basis adjustment Tax basis goodwill and other intangible assets $ 214,625 $ 235,372 Other assets 6,770 19,161 Principals’ (and a former senior employee’s) exchanges - tax basis adjustment Tax basis goodwill and other intangible assets 85,501 76,390 Other assets 3,340 2,417 Public offering basis difference (947 ) (922 ) Compensation and benefits 12,776 11,017 Options in affiliates 2,767 3,558 Partnership basis differences (A) 121,288 77,158 Other 23,639 15,008 Gross deferred tax assets 469,759 439,159 Less: Valuation allowance (39,616 ) (13,072 ) Deferred tax liabilities (B) (3,041 ) (8,464 ) Deferred tax assets, net $ 427,102 $ 417,623 (A) Difference in book and tax basis from underlying partnership investments. (B) The deferred tax liabilities primarily relate to timing differences in the recognition of income from options received from certain 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 Due to FIG Corp. ownership change (2,575 ) Net decreases (A) (34,158 ) Valuation Allowance at December 31, 2014 $ 13,072 Due to FIG Corp. ownership change 3,095 Net increases (A) 23,449 Valuation Allowance at December 31, 2015 $ 39,616 (A) In 2015, the increases are primarily related to the change in the portion of the deferred tax asset that would be realized only in connection with future capital gains and therefore required a full valuation allowance. In 2014, the decreases were primarily related to the reversal of the valuation allowance on previously fully reserved deferred tax assets associated with funds in the process of liquidation. Fortress’s effective income tax expense rate is impacted by a variety of factors including, but not limited to, changes in the mix of businesses producing income or loss, which may be subject to tax at different rates, and related changes to Fortress’s structure, as well as changes in the deferred tax asset which, in turn, may result from a variety of factors. A reconciliation of the U.S. federal statutory income tax expense rate to Fortress’s effective income tax expense rate is as follows: Year Ended December 31, 2015 2014 2013 Statutory U.S. federal income tax rate 35.00 % 35.00 % 35.00 % (Income) loss passed through to stockholders (14.75 )% (17.95 )% (13.30 )% State and local income taxes 3.81 % 6.08 % 4.33 % Change in tax rate on certain deferred tax benefits (A) (5.76 )% (16.08 )% (0.60 )% Tax receivable agreement liability adjustment (B) 1.60 % 10.74 % 1.16 % Foreign taxes 6.59 % 6.54 % 1.55 % Deferred tax asset write-off (C) — % 14.00 % 8.41 % Valuation allowance (C)(D) 17.46 % (31.65 )% (11.95 )% Other (2.40 )% (0.24 )% 0.11 % Effective income tax rate (E) 41.55 % 6.44 % 24.71 % (A) Primarily related to enacted legislative changes to New York City and New York State corporate taxation in 2015 and 2014, respectively, which increased the value of certain future tax benefits. (B) Relates to the tax receivable agreement discussed below, which is not tax deductible and represents a significant permanent tax/GAAP difference. (C) In 2014, write-off of deferred tax assets relating to public offering basis difference, fully offset by a reversal of the related valuation allowance. In 2013, write-off of deferred tax assets relating to the tax shortfall created by the vesting of RSUs and RPUs. (D) In 2015, primarily related to the change in the portion of the deferred tax asset that would be realized only in connection with future capital gains and therefore required a full valuation allowance. In 2014 and 2013, primarily related to the reversal of the valuation allowance on previously fully reserved deferred tax assets associated with funds in the process of liquidation. (E) The Effective income tax rate is computed by dividing Income tax benefit (expense) for the period by the sum of (i) Income (Loss) Before Income Taxes less (ii) Principals' and Others' Interests in Income (Loss) of Consolidated Subsidiaries for the period. Tax Receivable Agreement The Principals have the right to exchange each of their Fortress Operating Group units for one Class A share. Certain Fortress Operating Group entities have made an election under Section 754 of the Internal Revenue Code, as amended, which may result in an adjustment to the tax basis of the assets owned by Fortress Operating Group at the time of an exchange. The exchange may result in increases in tax deductions and tax basis that would reduce the amount of tax that the corporate taxpayers (i.e. FIG Corp., a wholly-owned Fortress subsidiary) would otherwise be required to pay in the future. Additionally, the further acquisition of Fortress Operating Group units from the Principals also may result in increases in tax deductions and tax basis that would reduce the amount of tax that the corporate taxpayers would otherwise be required to pay in the future. The corporate taxpayers entered into a tax receivable agreement with each of the Principals that provides for the payment to an exchanging or selling Principal of 85% of the amount of cash savings, if any, in U.S. federal, state, local and foreign income tax that the corporate taxpayers actually realize (or are deemed to realize in the case of an early termination payment by the corporate taxpayers or a change of control, as defined) as a result of these increases in tax basis. Such payments are expected to occur over approximately the next 15 years. Although Fortress is not aware of any issue that would cause the IRS to challenge a tax basis increase, the Principals will not reimburse Fortress for any payments made under this agreement if tax savings claimed are later disallowed by the IRS. In connection with certain equity transactions that occurred prior to Fortress’s initial public offering, and related tax effects, a $393.0 million capital decrease and offsetting liability to the Principals was recorded in Due to Affiliates with respect to the tax receivable agreement. Subsequently, this liability has been adjusted based on transactions of the nature described above and for payments under the agreement. In connection with the tax returns filed for the years ended December 31, 2014 , 2013 and 2012 , $31.1 million (paid in 2015 ), $24.1 million (paid in 2014 ) and $21.8 million (paid in 2013 ) was paid to the Principals under the tax receivable agreement (including interest), respectively. For the tax year ended December 31, 2015 , the payment which is expected to become due pursuant to the tax receivable agreement is approximately $36.6 million subject to the finalization of Fortress’s 2015 tax return. To the extent that a portion, or all, of this liability is not expected to be incurred (due to changes in expected taxable income), the liability is reduced. For the year ending December 31, 2015 , an expense of $6.1 million was recognized as a result of an increase in the tax receivable agreement liability mainly attributable to the change to the estimated effective tax rate applicable to future benefits as a result of enacted legislative changes to New York City corporate taxation.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES Affiliate Receivables and Payables Due from affiliates was comprised of the following: Private Equity Credit Liquid Permanent Hedge PE Hedge Logan December 31, 2015 Funds Capital Vehicles Funds Funds Funds Circle Other (B) Total Management fees and incentive income (A) $ 41,706 $ 49,578 $ 55,864 $ 20,540 $ 5,880 452 $ — $ 174,020 Expense reimbursements (A) 35,982 11,052 13,250 16,006 1,867 129 — 78,286 Dividends and distributions — 270 — — — — — 270 Other — 2,383 — — — — 18,852 21,235 Total $ 77,688 $ 63,283 $ 69,114 $ 36,546 $ 7,747 $ 581 $ 18,852 $ 273,811 Private Equity Credit Liquid Permanent Hedge PE Hedge Logan December 31, 2014 Funds Capital Vehicles Funds Funds Funds Circle Other (B) Total Management fees and incentive income (A) $ 35,970 $ 65,043 $ 96,996 $ 18,393 $ 15,634 $ 1,089 $ — $ 233,125 Expense reimbursements (A) 37,447 7,237 10,533 12,880 14,014 164 — 82,275 Dividends and distributions — 295 — — — — — 295 Other — 1,346 — — — — 9,534 10,880 Total $ 73,417 $ 73,921 $ 107,529 $ 31,273 $ 29,648 $ 1,253 $ 9,534 $ 326,575 (A) Net of allowances for uncollectible management fees and expense reimbursements of $12.2 million and $6.8 million at December 31, 2015 , respectively, and of $12.2 million and $6.6 million as of December 31, 2014 , respectively. Allowances are recorded as General and Administrative expenses. (B) Other includes amounts primarily due from the principals and advances to senior employees (who are not officers). As of December 31, 2015 , amounts due from Fortress Funds recorded in Due from Affiliates included $38.6 million of past due management fees and $11.0 million of private equity general and administrative expenses advanced on behalf of a certain Fortress Fund. Although such fund is currently experiencing a liquidity issue, the past due amounts represent less than 5% of such fund's NAV and Fortress believes these fees and reimbursement expenses will ultimately be collected. As of December 31, 2015, Fortress also had past due amounts recorded in Due from Affiliates of $12.2 million in management fees and $6.8 million in private equity general and administrative expenses due from another Fortress Fund which Fortress has fully reserved. Due to affiliates was comprised of the following: December 31, 2015 December 31, 2014 Principals - tax receivable agreement - Note 6 $ 264,625 $ 289,324 Principals - Principal Performance Payments - Note 8 42,234 30,659 Distributions payable on Fortress Operating Group units - Note 9 7,739 — Other 4,360 11,411 General partner liability - Note 10 46,260 44,030 Total $ 365,218 $ 375,424 Other Related Party Transactions For the years ended December 31, 2015 , 2014 and 2013 , Other Revenues included $5.5 million , $2.5 million and $1.7 million , respectively, of revenues from affiliates, primarily interest and dividends. Fortress has entered into cost sharing arrangements with certain Fortress Funds, including market data services and subleases of certain of its office space. Fortress pays these costs directly and is reimbursed by the related Fortress Funds. Certain Portfolio Companies and Fortress Funds are co-owned by, have merged with, and/or have engaged in transactions (including loans) with, other Portfolio Companies and Fortress Funds. Generally, co-ownership arrangements are entered into due to transaction size limitations in individual funds and transactions between Portfolio Companies take advantage of relevant expertise possessed by these entities. In some instances, Portfolio Companies have entered into contracts with other Portfolio Companies or with certain of Fortress’s equity method investees to provide services to, or receive services from, these entities, including asset management, consulting, loan servicing and others. These contracts were entered into because the entity providing the service possessed relevant expertise. From time to time, Fortress may advance amounts on behalf of affiliates for limited periods. In such cases it generally charges interest to these affiliates. In 2015 , 2014 and 2013 , Fortress waived $1.6 million , $1.5 million and $1.8 million , respectively, of interest owed from its private equity funds related to management fees paid in arrears. One of Fortress’s consolidated subsidiaries (not a Fortress Fund) acts as the loan origination platform for certain Fortress Funds. In this respect, it holds commercial lending licenses in various states and received fees for its loan origination duties of less than $0.1 million during 2015 and 2014 , and $0.1 million for 2013 . The principals and certain executive officers of Fortress may also serve as directors and/or officers of each of the publicly traded permanent capital vehicles and of certain Portfolio Companies and may have investments in these entities as well as in other Fortress Funds. From time to time, employees of Fortress mutually agree with Fortress to terminate their employment in order to accept employment opportunities at the Fortress Funds, Portfolio Companies, or other affiliates. To the extent these former employees had been granted RSUs by Fortress, they are generally permitted to continue vesting in these RSUs pursuant to their original vesting terms as long as they remain employed by an affiliate. From time to time, Fortress makes advances to senior employees (who are not officers). These advances may be due on a certain date, at termination or upon the maturity of a Fortress Fund (generally when the advances are to finance employee fund investments). Outstanding advances (including principal and accrued interest) can be summarized as follows: December 31, 2015 2014 Amount outstanding $12.6 million $4.7 million Range of interest rates LIBOR +4% to LIBOR +5% LIBOR +4% to LIBOR + 4.25% During 2015, Fortress advanced $7.0 million to four of its senior employees who are not officers. These advances bear interest ranging from LIBOR + 4.0% to LIBOR + 5.0% . All principal and interest is due and payable no later than February 2019. In addition, three senior employee repaid advances aggregating $0.2 million . Subsequent to December 31, 2015, Fortress advanced $2.0 million to a senior employee (who is not an officer). In connection with its initial public offering, Fortress entered into a tax receivable agreement with the Principals, as described in Note 6, and the Principals entered into a forfeiture agreement with each other, as described in Note 8. The Principals, employees, directors and Fortress Funds have and continue to make investments in Fortress Funds and Portfolio Companies. The Principals have guaranteed payment on a several basis to certain Fortress private equity funds and credit PE funds of any contingent repayment (clawback) obligation with respect to such private equity fund or credit PE fund incentive income in the event that Fortress fails to fulfill its clawback obligation, if any, with respect to such fund. As a result of the repeal of the exemption from registration under the Investment Advisers Act of 1940 for family offices, Fortress hired the personnel of the Principals’ family offices and entered into investment management agreements with the family offices. Pursuant to these agreements, these individuals work solely on the Principals’ personal financial matters, and the Principals reimburse Fortress for the expense attributable to them. The total amount of such expenses was $5.4 million , $3.5 million and $3.1 million in 2015 , 2014 and 2013 , respectively. Certain Fortress subsidiaries may, from time to time, be required to pay taxes to various tax jurisdictions on behalf of its members, which include the Principals and other senior employees. These taxes are subject to reimbursement from the members and are collected periodically. The amounts subject to reimbursement aggregate $3.2 million , $1.1 million and less than $0.1 million in 2015, 2014 and 2013, respectively. Two of the Principals leased or indirectly owned aircraft that Fortress chartered from a third-party aircraft operator for business purposes in the course of operations. Fortress and/or the funds, depending on the purposes of the trip, paid market rates for the charters. With respect to one of the Principals, these amounts totaled $2.6 million , $2.2 million and $1.8 million in 2015 , 2014 and 2013 , respectively. With respect to the other Principal, these amounts totaled $0.6 million , $0.6 million and $0.4 million in 2015 , 2014 and 2013 , respectively. The operators remitted a portion of these amounts to the Principals. In addition to the other transactions discussed above, the Principals receive limited benefits from Fortress in addition to their compensation, including the personal use of certain company assets and personnel for which they reimburse Fortress. The amounts subject to reimbursement aggregated $0.0 million , $0.4 million and $0.0 million in 2015 , 2014 and 2013 , respectively. In February 2016, Fortress entered into a sale agreement with Graticule for the sale of certain software and technology related assets for $1.7 million with $1.1 million received by Fortress at closing and an additional $0.6 million to be received in February 2017. Fortress may also receive an additional $0.6 million in February 2017, subject to certain conditions. Redeemable Non-Controlling Interests The following table represents the activity in Redeemable Non-controlling Interests: Year Ended December 31, 2015 December 31, 2014 Beginning balance $ 1,717 $ — Capital contributions (distributions) (1,711 ) 56,771 Consolidation of Redeemable Non-Controlling interest — 2,179 Redeemable Non-controlling Interests in income (loss) of consolidated (6 ) (709 ) Deconsolidation of Redeemable Non-Controlling interests in income (loss) — (56,524 ) $ — $ 1,717 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: December 31, 2015 2014 Fortress Operating Group units held by the Principals and a former senior employee $ 307,539 $ 556,720 Employee interests in majority owned and controlled fund advisor and general partner entities 61,833 80,333 Other 1,747 2,303 Total $ 371,119 $ 639,356 The Fortress Operating Group portion of these interests is computed as follows: December 31, 2015 2014 Fortress Operating Group equity $ 764,429 $ 1,152,297 Less: Others' interests in equity of consolidated subsidiaries (63,580 ) (82,636 ) Total Fortress shareholders' equity in Fortress Operating Group $ 700,849 $ 1,069,661 Fortress Operating Group units outstanding (A) 169,514,478 226,331,513 Class A shares outstanding 216,790,409 208,535,157 Total 386,304,887 434,866,670 Fortress Operating Group units as a percent of total (B) 43.9 % 52.0 % Equity of Fortress Operating Group units held by the Principals and a former senior employee $ 307,539 $ 556,720 (A) Held by the Principals and a former senior employee; exclusive of Class A shares. (B) As a result, the Registrant owned 56.1% and 48.0% of Fortress Operating Group as of December 31, 2015 and 2014 , respectively. In November 2015, Fortress purchased from a principal 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million . All of the Fortress Operating Group units and corresponding Class B shares were canceled and ceased to be outstanding. This statement of operations caption was comprised of shares of consolidated net income (loss) related to the following: Year Ended December 31, 2015 2014 2013 Fortress Operating Group units held by the Principals and a former senior employee $ 102,507 $ 135,029 $ 276,683 Employee interests in majority owned and controlled fund advisor and general partner entities 843 4,657 6,456 Other (221 ) 270 5 Total $ 103,129 $ 139,956 $ 283,144 The Fortress Operating Group portion of these interests is computed as follows: Year Ended December 31, 2015 2014 2013 Fortress Operating Group net income (loss) $ 219,209 $ 263,030 $ 545,623 Adjust: Others' interests in net (income) loss of consolidated subsidiaries (622 ) (4,927 ) (6,461 ) Redeemable Non-controlling interests in (income) loss of consolidated 6 709 — Total Fortress shareholders' net income (loss) in Fortress Operating Group $ 218,593 $ 258,812 $ 539,162 Fortress Operating Group as a percent of total (A) 46.9 % 52.2 % 51.3 % Fortress Operating Group net income (loss) attributable to the Principals and a former senior employee $ 102,507 $ 135,029 $ 276,683 (A) Represents the weighted average percentage of total Fortress shareholders' net income (loss) in Fortress Operating Group attributable to the Principals and a former senior employee. In November 2015, Fortress purchased 56.8 million Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million . The following discloses the effects of changes in Fortress’s ownership interest in Fortress Operating Group on Fortress’s equity: Year Ended December 31, 2015 2014 2013 Net Income attributable to Class A shareholders $ 78,492 $ 100,966 $ 200,447 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 a former senior employee — — 10,143 Increase in Fortress’s shareholders’ equity for the purchase of Fortress Operating Group units from one Principal 63,850 — — Increase in Fortress’s shareholders’ equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs 9,595 5,835 14,005 Increase in Fortress's shareholders' equity for the public offering of Class A shares and repurchase of Class B shares and FOGUs — 53,510 — Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs — (101,156 ) — Change from net income attributable to Fortress and transfers (to) from Principals’ and Others' Interests $ 151,937 $ 59,155 $ 224,595

EQUITY-BASED AND OTHER COMPENSA

EQUITY-BASED AND OTHER COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED AND OTHER COMPENSATION	EQUITY-BASED AND OTHER COMPENSATION Fortress’s total compensation and benefits expense, including Principal Performance Payments (described below), is comprised of the following: Year Ended December 31, 2015 2014 2013 Equity-based compensation, per below $ 38,407 $ 38,157 $ 39,266 Profit-sharing expense, per below 203,759 269,162 263,436 Discretionary bonuses 239,153 239,561 220,114 Other payroll, taxes and benefits 262,543 248,481 218,945 $ 743,862 $ 795,361 $ 741,761 Equity-Based Compensation Fortress currently has several categories of equity-based compensation which are accounted for as described in the table below. A total of 181,593,848 Class A shares have been authorized for issuance under Fortress’s equity-based compensation plan as of December 31, 2015 . RSUs are Class A restricted share units which entitle the holder to receive Class A shares on various future dates if the applicable service conditions, if any, are met. Service Entitled to December 31, 2015 Type of Conditions Dividends Shares/Units Granted To Award (A) (B) Accounting Outstanding Employees RSUs Yes Yes Fair value at grant date expensed over service period. 10,535,667 RSUs Yes No Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period. 10,391,502 Directors Restricted Shares Yes Yes Fair value at grant date expensed over service period. 729,348 Non- Employees (employees of affiliates and former employees) RSUs Yes No Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period. Subsequent changes in fair value, through the vesting date, expensed over remaining service period with a cumulative catch-up adjustment in the period of change. 322,278 (A) Employee awards not entitled to dividends generally vest over 3 years, 50% each in years two and three . Employee awards that are entitled to dividends generally vest over 6 years with 33 1/3% vesting on the fourth, fifth and sixth anniversaries. Vesting of awards may be accelerated if an employee is terminated without cause, or in the event of death or disability, or a change in control of Fortress. (B) Vested Class A shares are delivered to employee grant recipients within six months after vesting or, in certain circumstances, on an agreed schedule. Director restricted shares are delivered effective on the grant date. Certain awards entitle the recipient to receive dividend equivalent payments prior to such delivery dates or between vesting and delivery. The aggregate fair value of each of the RSU grants which are subject to service conditions is reduced by an estimated forfeiture factor (that is, the estimated amount of awards which will be forfeited prior to vesting). The estimated forfeiture factor is based upon historic forfeiture and turnover rates within Fortress, adjusted for the expected effects of the grants on turnover, the actual price of Fortress’s shares, the economic environment and other factors in the best judgment of management. The estimated forfeiture factor is reviewed at each reporting date, incorporating updated information on actual forfeiture rates incurred and the remaining vesting period of certain grants. These reviews resulted in changes in estimated forfeiture factors in 2015 which did not materially impact equity based compensation expense. The reviews in 2014 and 2013 resulted in increases in equity-based compensation expense of $2.2 million and $1.2 million , respectively. The estimated forfeiture factors which Fortress used for the years ended December 31, 2015 , 2014 and 2013 were (i) a range of 0% to 38% for non-dividend paying RSUs and (ii) a range of 0% to 26% for dividend paying RSUs. The risk-free discount rate assumptions used in valuing certain awards were based on the applicable U.S. Treasury rate of like term. The dividend yield assumptions used in valuing certain awards were based on Fortress’s actual dividend rate at the time of the award; the dividend growth rate used with respect to certain awards was based on management’s judgment and expectations. The discount related to RSUs, which do not entitle the recipients to dividend equivalents prior to the vesting of Class A shares, was based on the estimated present value of dividends to be paid during the vesting period, which in turn was based on an estimated initial dividend rate, an estimated dividend growth rate and a risk-free discount rate (based on grant date and term), the weighted average of which is as follows: 2015 2014 2013 Initial dividend rate 4.30 % 4.00 % 5.00 % Dividend growth rate 6.25 % 5.00 % 3.64 % Risk-free discount rate 0.55 % 0.28 % 0.18 % Each of these elements, particularly the forfeiture factor and the dividend growth rate used in valuing certain awards, are subject to judgment and variability. When Fortress records equity-based compensation expense it records a corresponding increase in capital. When Fortress delivers Class A shares as a result of the vesting of equity-based compensation, to the extent that it pays withholding taxes in cash (rather than through the sale of employee shares upon delivery) it will record a decrease in capital related to these payments. The following tables set forth information regarding equity-based compensation activities. RSUs Restricted Shares RPUs (F) Employees Non-Employees Issued to Directors Employees Number Value (A) Number Value (A) Number Value (A) Number Value (A) Outstanding at December 31, 2012 21,754,544 $ 9.44 1,246,406 $ 5.51 828,211 $ 5.29 10,333,334 $ 13.75 2013 Issued 8,950,696 $ 5.10 — — 127,533 $ 6.21 — — Transfers — — — — — — — — Converted to Class A shares (10,762,805 ) $ 12.52 (1,231,906 ) $ 5.53 — — (10,333,334 ) $ 13.75 Forfeited (713,969 ) $ 3.72 — — — — — — Outstanding at December 31, 2013 19,228,466 $ 4.14 14,500 $ 3.12 955,744 $ 5.41 — — 2014 Issued 8,415,043 $ 7.19 237,498 $ 7.18 89,390 $ 7.38 — — Transfers (152,313 ) $ 5.09 152,313 $ 5.64 — — — — Converted to Class A shares (5,591,854 ) $ 3.81 (7,437 ) $ 3.28 — — — — Forfeited (1,745,596 ) $ 3.87 — — — — — — Outstanding at December 31, 2014 20,153,746 $ 5.52 396,874 $ 6.51 1,045,134 $ 5.58 — — 2015 Issued 11,925,660 $ 6.89 111,540 $ 7.61 111,969 $ 7.55 — — Transfers — — — — — — — — Converted to Class A shares (7,966,543 ) $ 4.59 (186,136 ) $ 6.78 (427,755 ) $ 6.32 — — Forfeited (3,185,694 ) $ 5.51 — — — — — — Outstanding at December 31, 2015 (B) 20,927,169 $ 6.66 322,278 $ 6.74 729,348 $ 5.42 — — Year Ended December 31, 2015 2014 2013 Expense incurred (B) Employee RSUs $ 30,571 $ 22,925 $ 22,869 Non-Employee RSUs 1,369 1,428 1 Principal Performance Payments (C) 6,406 13,307 16,396 Granted Class A Shares (D) — 497 — Restricted Shares (E) 61 — — Total equity-based compensation expense $ 38,407 $ 38,157 $ 39,266 (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 December 31, 2015 of $79.4 million , with a weighted average recognition period of 4.1 years. (C) A total of approximately 0.5 million , 0.5 million and 3.2 million RSUs were awarded as Principal Performance Payments based on 2015 , 2014 and 2013 results, respectively. (D) Represents expense associated with vested Class A shares granted during the year ended December 31, 2014. (E) Represents expense associated with restricted shares granted to a director during 2015. These restricted shares will vest over a period of 2 years. Certain restricted shares granted to directors are recorded in General and Administrative Expense ( $0.4 million , $0.5 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively) and therefore are not included above. (F) Represents FOG restricted partnership units ("RPUs") granted to a former senior employee. The RPUs vest into full capital interests in newly issued Fortress Operating Group units. One third of the RPUs vested in each of January 2011, January 2012 and January 2013. The RPUs final vesting occurred in January 2013. Subsequent to December 31, 2015, Fortress granted 2.1 million RSUs to its employees. These RSUs generally vest over a period of three years. In August 2011, Fortress’s Principals extended their employment for a new five -year term effective January 1, 2012, on substantially similar terms and conditions as their prior employment agreements. Additionally, under a new compensation plan adopted by Fortress, the Principals receive annual payments (“Principal Performance Payments”) based on the performance of the existing AUM (as of December 31, 2011) of Fortress’s flagship hedge funds during a given year and on their success in raising and investing new funds across all businesses and the performance of these new funds during a given fiscal year. Principal Performance Payments are comprised of a mix of cash and equity-based compensation, with the equity component becoming larger as performance, and the size of the payments, increases. Specifically the plan calls for payments of: (i) 20% of the incentive income earned from existing flagship hedge fund AUM and 20% of the fund management distributable earnings above a threshold for publicly traded permanent capital vehicles existing at January 1, 2012, as well as (ii) either 10% or 20% (based on the level of involvement of the Principal) of the fund management distributable earnings of new AUM in new businesses and 20% of fund management distributable earnings for new flagship hedge fund AUM. Payments of up to 10% of fund management distributable earnings before Principal Performance Payments, in each of the Principals' respective businesses, are made in cash, and payments in excess of this threshold are made in RSUs that will vest in equal increments over three years. Pursuant to the new employment agreements, each Principal receives annual compensation of $200,000 . The Principals' employment agreements contain customary post-employment non-competition and non-solicitation covenants. In order to ensure the Principals' compliance with such covenants, an amount equal to 50% of the after-tax cash portion of any Principal Performance Payments are subject to mandatory investment in Fortress-managed funds, and such invested amounts will serve as collateral against any breach of those covenants. The expense for Principal Performance Payments was comprised of the following: Year Ended December 31, 2015 Year Ended December 31, 2014 Equity-Based Profit Sharing Total Equity-Based Compensation Profit Sharing Expense Total Private equity business $ 385 $ 19,395 $ 19,780 $ — $ 5,588 $ 5,588 Credit business 6,076 21,965 28,041 9,577 22,202 31,779 Liquid hedge fund business (55 ) — (55 ) 3,730 1,591 5,321 Total $ 6,406 $ 41,360 $ 47,766 $ 13,307 $ 29,381 $ 42,688 In April 2010, in connection with the acquisition of Logan Circle, Fortress created the Logan Circle Comp Plan, as amended. The Logan Circle Comp Plan provides for annual bonuses which may be paid partially in RSUs, as well as for potential Class A share awards to certain employees related to the years 2016 and 2017. These awards are annual performance-based awards and depend on the future performance of Logan Circle in the specific years to which they relate. Furthermore, the amounts of RSUs or shares to be awarded are not fixed until the respective year is completed. As such, these awards are expensed over the related service period. If Logan Circle meets the future performance targets under this plan, the amounts to be awarded could be significant. Through December 31, 2015, no compensation expense was recognized under this plan as the satisfaction of the performance condition and amount of the award were not considered to be probable. Profit Sharing Expense Recognized profit sharing compensation expense is summarized as follows: Year Ended December 31, 2015 2014 2013 Private equity funds $ 245 $ 303 $ 2,135 Permanent capital vehicles (A) 5,455 13,221 10,690 Credit hedge funds 35,802 59,819 95,229 Credit PE funds 119,668 137,091 68,883 Liquid hedge funds 1,229 29,347 51,886 Principal Performance Payments (B) 41,360 29,381 34,613 Total $ 203,759 $ 269,162 $ 263,436 (A) Includes rights in options held in the publicly traded permanent capital vehicles (tandem options) that are granted to certain Fortress employees. The fair value and changes thereto are recorded as profit sharing compensation expense. (B) Relates to all applicable segments. 401(K) Plan Fortress has established a tax qualified retirement plan (the “401(K) Plan”) that provides employees with an opportunity to save for retirement on a tax advantaged basis. Employees participate in the 401(K) Plan on their first day of employment and are able to defer compensation up to the limits established by the Internal Revenue Service. Fortress matches a portion of the employees’ contributions up to a maximum amount. Fortress expects to contribute approximately $5.0 million to the 401(K) Plan in 2016 related to employee contributions made in 2015 . Similarly, Fortress contributed $4.8 million and $4.2 million related to employee contributions in 2014 and 2013 , respectively.

EARNINGS PER SHARE AND DISTRIBU

EARNINGS PER SHARE AND DISTRIBUTIONS	12 Months Ended
	Dec. 31, 2015
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 a former 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 a former senior employee, on the other hand. The FOG income allocated to the Principals and a former 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 a former 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 a former senior employee. The computations of basic and diluted net income (loss) per Class A share are set forth below: Year Ended December 31, 2015 Basic Diluted Weighted average shares outstanding Class A shares outstanding 212,464,539 212,464,539 Fully vested restricted Class A share units with dividend equivalent rights 3,272,595 3,272,595 Restricted Class A shares 766,420 766,420 Fortress Operating Group units exchangeable into Class A shares (1) — 220,416,315 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 5,766,905 Total weighted average shares outstanding 216,503,554 442,686,774 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 78,492 $ 78,492 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (3,415 ) (3,415 ) 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 exchangeable into Class A shares (1) — 49,545 Net income available to Class A shareholders $ 75,077 $ 124,622 Weighted average shares outstanding 216,503,554 442,686,774 Basic and diluted net income per Class A share $ 0.35 $ 0.28 Year Ended December 31, 2014 Basic Diluted Weighted average shares outstanding Class A shares outstanding 207,907,352 207,907,352 Fully vested restricted Class A share units with dividend equivalent rights 1,379,649 1,379,649 Restricted Class A shares 1,016,240 1,016,240 Fortress Operating Group units exchangeable into Class A shares (1) — 231,162,793 Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2) — 4,670,736 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 9,017,366 Total weighted average shares outstanding 210,303,241 455,154,136 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 100,966 $ 100,966 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (1,296 ) (1,296 ) 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 exchangeable into Class A shares (1) — 97,751 Net income available to Class A shareholders $ 99,670 $ 197,421 Weighted average shares outstanding 210,303,241 455,154,136 Basic and diluted net income per Class A share $ 0.47 $ 0.43 Year Ended December 31, 2013 Basic Diluted Weighted average shares outstanding Class A shares outstanding 233,117,423 233,117,423 Fully vested restricted Class A share units with dividend equivalent rights 2,207,612 2,207,612 Restricted Class A shares 921,261 921,261 Fortress Operating Group units and fully vested RPUs exchangeable into Class A shares (1) — 251,969,075 Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2) — 2,318,202 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 10,097,850 Total weighted average shares outstanding 236,246,296 500,631,423 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 200,447 $ 200,447 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (3,365 ) (3,365 ) Add back Principals’ and others’ interests in loss of Fortress 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) — 196,272 Net income available to Class A shareholders $ 197,082 $ 393,354 Weighted average shares outstanding 236,246,296 500,631,423 Basic and diluted net income per Class A share $ 0.83 $ 0.79 (1) The Fortress Operating Group units and fully vested RPUs not held by Fortress (that is, those held by the Principals and a former 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 considered 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: Period Share Units Year Ended December 31, 2015 12,139,050 Year Ended December 31, 2014 13,310,978 Year Ended December 31, 2013 15,321,401 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. A former senior employee exchanged an aggregate of 10,333,334 Fortress Operating Group units and Class B shares for an equal number of Class A shares in 2013 . Subsequent to December 31, 2015, in connection with the delivery of vested RSUs, Fortress paid $6.5 million of statutory withholding tax on behalf of employees and, therefore, issued only 2.1 million Class A shares in satisfaction of 3.8 million RSUs originally granted. Additionally, Fortress issued 1.6 million and 0.6 million Class A shares to a principal and former principal, respectively, in connection with vested dividend paying RSUs. In 2014, Fortress paid $3.6 million of statutory withholding tax on behalf of employees and, therefore, issued only 0.5 million Class A shares in satisfaction of 1.1 million RSUs originally granted. These payments are treated as a financing activity on the statements of cash flows since it had the same accounting effect as if Class A shares were repurchased. Fortress’s dividend paying shares and units were as follows: Weighted Average Year Ended December 31, As of December 31, 2015 2014 2013 2015 2014 Class A shares 212,464,539 207,907,352 233,117,423 216,061,061 207,490,023 Restricted Class A shares (directors) 766,420 1,016,240 921,261 729,348 1,045,134 Restricted Class A share units (employees) (A) 3,272,595 1,379,649 2,207,612 1,360,960 194,287 Restricted Class A share units (employees) (B) 10,023,561 7,017,047 4,883,186 9,174,707 7,002,003 Fortress Operating Group units (Principals and a 220,416,315 231,162,793 249,534,372 169,514,478 226,331,513 Fortress Operating Group RPUs (a former senior — — 2,434,703 — — Total 446,943,430 448,483,081 493,098,557 396,840,554 442,062,960 (A) Represents 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. In November 2015, Fortress purchased from a principal 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million . All of the Fortress Operating Group units and corresponding Class B shares were canceled and ceased to be outstanding. In March 2014, Fortress issued and sold 23,202,859 Class A shares for $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. 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 less (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 an estimated liability, as of the date of the agreement (included in Other liabilities on the consolidated balance sheets) of approximately $30.0 million , which has been recorded as a reduction to equity as part of the repurchase of Class A shares. During 2015, Fortress paid $9.7 million to Nomura related to the estimated liability pursuant to the terms of the purchase agreement. During 2013, two of the Principals contributed a combined total of 1,859,283 Class A shares to charitable organizations. Dividends and distributions during the years ended December 31, 2015 are summarized as follows: Declared in Current Year Declared in Prior Year, Paid Current Year Declared and Paid Declared but not yet Paid Total 2015: Dividends on Class A shares $ — $ 131,019 $ — $ 131,019 Dividend equivalents on restricted Class A share units (A) — 9,754 133 9,887 Distributions to Fortress Operating Group unit holders — 174,275 7,739 182,014 Total distributions $ — $ 315,048 $ 7,872 $ 322,920 2014: Dividends on Class A shares $ — $ 101,864 $ — $ 101,864 Dividend equivalents on restricted Class A share units (A) — 3,996 — 3,996 Distributions to Fortress Operating Group unit holders 5,160 136,748 — 136,748 Total distributions $ 5,160 $ 242,608 $ — $ 242,608 2013: Dividends on Class A shares $ — $ 56,274 $ — $ 56,274 Dividend equivalents on restricted Class A share units (A) — 1,652 — 1,652 Distributions to Fortress Operating Group unit holders 30,725 72,295 5,160 77,455 Distributions to Fortress Operating Group RPU holders 1,272 401 — 401 Total distributions $ 31,997 $ 130,622 $ 5,160 $ 135,782 (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 a former senior employee) and the RPU holder (a former senior employee). The base quarterly dividends related to each of the quarters of 2015, all quarters of 2014 and the fourth quarter of 2013, were $0.08 per share. In addition to the base quarterly dividend at $0.08 per Class A share, a special cash dividend of $0.18 per Class A share was declared for the second quarter of 2014 and a special dividend of $0.30 per share was declared for the fourth quarter of 2014. The dividends related to the fourth quarter of 2015, declared on February 24, 2016, will be paid on March 21, 2016 to holders of record of Class A shares on March 16, 2016. The dividends related to each of the first three quarters of 2013 were $0.06 per share. In February 2016, Fortress announced the commencement of a modified "Dutch auction" self-tender offer to repurchase up to $100.0 million in cash of Class A shares, at a price per share within the range of $4.25 to $4.75 , less applicable withholding taxes and without interest. Shareholders whose shares are validly tendered and accepted for payment pursuant to the tender offer will not be eligible to receive future dividends.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnifications – In the normal course of business, Fortress and its subsidiaries enter into operating contracts that contain a variety of representations and warranties and that provide general indemnifications. In addition, subsidiaries of Fortress that act as general partners (or in similar capacities) of Fortress Funds enter into guarantees of certain obligations of such funds in the case of fraud by Fortress employees or under similar circumstances. Fortress’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against Fortress that have not yet occurred. However, based on experience, Fortress expects the risk of material loss to be remote. 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 Fortress's 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 December 31, 2015 and 2014 was $46.3 million and $44.0 million , respectively. 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 December 31, 2015 , 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. Regulatory Matters - In the ordinary course of business, Fortress and its subsidiaries and equity method investees may be subject to regulatory examinations, information gathering requests, inquiries or investigations. Management, after consultation with legal counsel, does not believe these matters will ultimately have a material effect on Fortress. Private Equity Fund and Credit PE Fund Capital Commitments - Fortress has remaining capital commitments, which aggregated $153.7 million as of December 31, 2015 , primarily to certain of the Fortress Funds. These commitments can be drawn by the funds on demand. Incentive Income Contingent Repayment - Incentive income received from certain Fortress Funds, primarily the private equity funds and credit PE funds, is subject to contingent repayment and is therefore recorded as deferred incentive income, a liability, until all related contingencies have been resolved. The Principals guaranteed the contingent repayments to certain funds under certain conditions and Fortress has indemnified the Principals for any payments to be made under such guarantees. Fortress expects the risk of loss on each of these indemnifications and guarantees to be remote. Fortress’s direct liability for such incentive income contingent repayment is discussed in Notes 2, 3 and 11. Private Equity Fund Operating Expense Limit - Fortress is contingently liable, under an agreement with the operating subsidiary of its private equity funds, for any expenses of such subsidiary in excess of amounts approved by the private equity funds’ advisory board (comprised of representatives of the funds’ investors). Fortress monitors these expenses and does not expect to make any payments related thereto. Debt Covenants - Fortress’s debt agreements contain various customary loan covenants (Note 5). Fortress was in compliance with all of its existing credit agreement covenants as of December 31, 2015 . Minimum Future Rentals - Fortress is a lessee under operating leases for office space located in a number of locations worldwide. The following is a summary of major lease terms: New York Leases Other Leases Lease end date Various dates through October 2032 Various dates through March 2026 Escalations Generally, a fixed percentage of the landlord’s annual operating expenses and tax expense. Generally, a fixed percentage of the landlord’s annual operating expenses and tax expense. Free rent periods 5 - 12 months 1 - 16.5 months Leasehold improvement incentives $12,499 $2,903 Renewal periods Up to 5 years - some have none Up to 5 years - some have none Minimum future rental payments (excluding expense escalations) under these leases as of December 31, 2015 are as follows: Year Ending December 31, 2016 $ 26,549 2017 17,121 2018 24,200 2019 22,749 2020 21,614 Thereafter 265,755 Total $ 377,988 Rent expense, including operating expense escalations, during the years ended December 31, 2015 , 2014 and 2013 was $29.6 million , $23.7 million and $23.6 million respectively, and was included in General, Administrative and Other Expense. In February 2015, Fortress entered into new lease agreements which relate to its primary office space in New York and extends through October 2032. Fortress sublet a portion of its office space at a loss and recorded lease related charges of $0.5 million and $0.8 million to General, Administrative, and Other expense for the years ended December 31, 2015 and 2013, respectively.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2015
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) credit hedge funds, (iv) credit PE funds, (v) liquid hedge funds and (vi) Logan Circle. 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. Management assesses Fortress’s segments on a Fortress Operating Group and pre-tax basis and therefore adds back the interests in consolidated subsidiaries related to Fortress Operating Group units (primarily held by the Principals) and income tax expense. Management assesses the net performance of each segment based on its “distributable earnings” (“DE”) and utilizes “fund management distributable earnings” or “fund management DE” as a supplemental measure of segment performance. Neither distributable earnings or fund management DE is a measure of cash generated by operations which is available for distribution. Rather, they are supplemental measures of operating performance used by management in analyzing its segments and overall results. Neither distributable earnings or fund management DE should be considered as an alternative to cash flow, in accordance with GAAP, as a measure of Fortress’s liquidity, and they are not necessarily indicative of cash available to fund cash needs (including dividends and distributions). DE is defined by Fortress’s chief operating decision maker ("CODM"), which is its management committee. The CODM receives performance reports on Fortress’s segments on a DE basis pursuant to their requirements for managing Fortress’s business. “Distributable earnings” for the existing Fortress businesses 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, the private permanent capital vehicle through IPO in May 2015 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 CODM as described below (net of the reversal of any prior such reserves that are no longer deemed necessary), less (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 earned on a quarterly basis, less (b) incentive income recorded in accordance with GAAP, c. adding the receipt of cash or proceeds from the sale of shares received (a) as incentive income from the publicly traded permanent capital vehicles and (b) pursuant to the exercise of options in the publicly traded permanent capital vehicles, if any, in excess of their strike price, d. adding incentive income received from third parties which is subject to contingent repayment less incentive income from third parties that is no longer subject to contingent repayment, 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 through IPO in May 2015 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, less (b) impairment with respect to these funds, if necessary, less (c) equity method earnings (or losses) recorded in accordance with GAAP, b. subtracting gains (or adding losses) on 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, (iii) subtracting management fee income recorded in accordance with GAAP in connection with the receipt of options from the publicly traded permanent capital vehicles, if any, (iv) for 2015, subtracting the gain on transfer of Graticule, Expenses (v) adding or subtracting, as necessary, the employee profit sharing portion of incentive income described in (i) above to match the timing of the expense with the revenue, (vi) adding back equity-based compensation expense (including options in the publicly traded permanent capital vehicles assigned to employees, RSUs (including the portion of related dividend and distribution equivalents recorded as compensation expense) and restricted shares), (vii) adding back the amortization of intangible assets and any impairment of goodwill or intangible assets recorded under GAAP, (viii) for 2015, adding back the expense related to the transfer of interest in Graticule, (ix) adding the income (or subtracting the loss) allocable to the interests in consolidated subsidiaries attributable to Fortress Operating Group units, and (x) 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. Fortress defines its segment operating margin to be equal to fund management DE divided by segment revenues. Management believes only the incentive income related to realized fund income should be considered available for distribution, subject to a possible reserve, determined on a fund by fund basis, as necessary, for potential future clawbacks deemed to have more than a remote likelihood of occurring by Fortress’s CODM as described below. As such, distributable earnings generally includes incentive income to the extent it relates to paid or declared distributions from Fortress Funds’ investments that have been monetized through sale or financing. This type of incentive income is not recorded as revenue for GAAP purposes, under the revenue recognition method Fortress has selected, until the possibility of a clawback is resolved. This GAAP method is not completely reflective of value created during the period which is available for distribution as it disregards the likelihood that any contingent repayment will in fact occur. Distributable earnings is limited in its usefulness in measuring earnings because it recognizes as revenue amounts which are subject to contingent repayment, it ignores potentially significant unrealized gains and losses and it does not fully reflect the economic costs to Fortress by ignoring certain equity-based compensation expenses. Fund management DE is further limited due to its exclusion of the performance of Fortress's investments and related financing, which are material. Management utilizes distributable earnings and fund management DE as well as net income in its analysis of the overall performance of Fortress and notes that the measures are each useful for different purposes. 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) 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 (iv) 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 For purposes of this discussion, the term “private equity funds” includes hedge fund special investment accounts, which have investment profiles that are generally similar to private equity funds, permanent capital vehicles and credit PE funds. Pursuant to the definition of Distributable Earnings (“DE”) above, impairment is taken into account in the calculation in two ways: first, in section (i)(a) regarding private equity and credit PE incentive income, and, second, in section (ii)(a) regarding equity method investments in private equity funds and credit PE funds. Pursuant to section (ii)(a), distributable earnings does not include unrealized losses from investments in private equity funds and credit PE funds, unless an impairment is required to be recognized. Investments in Private Equity Funds and Credit PE Funds Unrealized changes in the value of investments in private equity funds and credit PE funds are not recorded through distributable earnings, subject to potential impairment. An analysis for potential impairment is performed whenever the reported net asset value (“NAV”) of a fund or the fair market value of the publicly traded permanent capital vehicle attributable to Fortress’s investment is less than its cost basis in such investment. The NAV of a fund is equal to the fair value of its assets less its liabilities. Fortress analyzes these investments for impairment using the “other than temporary” impairment criteria in a manner similar to the one specified for accounting for certain debt and equity securities under GAAP. As a result, a fund investment is considered impaired for DE purposes whenever it is determined by the CODM that Fortress does not have the intent and ability to hold the investment to an anticipated recovery in value, if any, to or above Fortress’s cost basis. Private Equity and Credit PE Incentive Income For DE purposes, incentive income is recognized from private equity funds and credit PE funds as it is realized, subject to a reserve for potential clawback if the likelihood of clawback is determined to be greater than remote by the CODM. Incentive income from the private equity funds and Credit PE funds is paid to Fortress as particular investments are realized. However, it is subject to contingent repayment (or clawback) if the fund as a whole does not meet certain performance criteria. Fortress’s CODM has defined “remote” in this context to mean that management does not believe there is a reasonable likelihood of a clawback and therefore its base case expectations of a fund’s performance do not include a promote clawback. This is an easier threshold to meet than the “other than temporary” threshold used for estimating investment impairment. Management’s base case expectations are generally not greatly impacted by short-term volatility in the value of a fund’s portfolio companies, including the market prices of the shares of publicly traded portfolio companies, unless either (a) the operating performance of the underlying company, or the value of its assets, are expected to be impacted on a long-term basis (long-term being defined in relation to the remaining life of a given fund), or (b) the value has been depressed below a breakeven point (as described below) for a period in excess of 6-9 months (as circumstances and other factors dictate). These criteria reflect the CODM’s belief that short term changes in the values of portfolio companies do not have a material impact on the likelihood of a clawback, absent deterioration in such companies’ operating performance or in the value of their underlying assets. Fortress conducts an analysis at each quarter end to determine whether a clawback reserve is required. The factors that enter into this analysis include: the amount of intrinsic unrealized gains or losses within each fund, the period of time until expected final realization, the diversification of the fund’s investments, the expected future performance of the fund, the period of time the fund has been in an intrinsic clawback position (i.e. liquidation at NAV would indicate a clawback, if any), and others as determined by management and the CODM. The point at which a liquidation at NAV would indicate no clawback and no additional promote payment is referred to as the breakeven point. Clawback Reserve on Incentive Income for DE Purposes Fortress had recognized incentive income for DE purposes from certain private equity funds and credit PE funds, which are subject to contingent clawback, as of December 31, 2015 : 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 Fund III $ 45,108 32 Quarters $ 45,108 $ — $ — $ 45,108 (C) Total $ 45,108 $ 45,108 $ — $ — $ 45,108 (A) Fortress has recognized incentive income for DE purposes from the following funds, which do not have intrinsic clawback and for which the Fortress CODM has determined no clawback reserve is necessary: Credit Opportunities Fund, Credit Opportunities Fund II, certain FCO Managed Accounts, Real Estate Opportunities Fund, Real Estate Opportunities REOC Fund, Global Opportunities Fund and Japan Opportunity Fund. (B) See Note 3. (C) The potential clawback on this fund has been fully reserved in prior periods. Subsequent to December 31, 2015, Fortress paid all prior net incentive income distributions received from the fund. Following such payment, no remaining clawback exists for Fund III (Note 3). Impairment Determination and Embedded Gain/Loss During the years ended December 31, 2015 , 2014 and 2013 Fortress recorded $6.3 million , $2.7 million and $1.1 million , respectively, of impairment on its direct and indirect investments in its funds for segment reporting purposes. During the year ended December 31, 2015 , Fortress also recognized an impairment charge of $2.8 million related to its holdings of digital currency (Bitcoin). As of December 31, 2015 , Fortress had $4.3 million of unrealized losses on certain investments that have not been recorded as impairment. As of December 31, 2015 , Fortress’s share of the net asset value of its direct and indirect investments exceeded its segment cost basis by $484.7 million , representing net unrealized gains. Embedded Incentive Income As of December 31, 2015 , Fortress had $965.3 million of gross undistributed incentive income, or $898.4 million net of intrinsic clawback (Note 3). In addition, if Fortress had (i) exercised all of its in-the-money publicly traded capital vehicle options (Note 4) and sold all of the resulting shares and (ii) sold all of its publicly traded permanent capital vehicle shares which it received as incentive income, it would have recorded $20.5 million of gross additional distributable earnings, or $18.1 million net of employee interests, based on their respective December 31, 2015 closing price. 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. Private Equity Credit Funds Permanent Capital Vehicles Hedge PE Liquid Logan Unallocated Total December 31, 2015 and the Year then Ended Segment revenues Management fees $ 115,627 $ 96,263 $ 134,054 $ 117,740 $ 64,208 $ 53,995 $ — $ 581,887 Incentive income 691 105,603 84,588 244,308 912 211 — 436,313 Segment revenues - total $ 116,318 $ 201,866 $ 218,642 $ 362,048 $ 65,120 $ 54,206 $ — $ 1,018,200 Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B) $ 71,850 $ 122,103 $ 98,252 $ 125,635 $ (19,406 ) $ (1,163 ) $ — $ 397,271 Fund management distributable $ 71,850 $ 122,103 $ 98,252 $ 125,635 $ (10,814 ) $ (1,163 ) $ — $ 405,863 Fund management distributable earnings (loss) $ 71,850 $ 102,708 $ 82,873 $ 118,625 $ (10,814 ) $ (1,163 ) $ — $ 364,079 Pre-tax distributable earnings (loss) $ 72,146 $ 104,529 $ 84,934 $ 139,327 $ (3,410 ) $ (2,120 ) $ (4,581 ) $ 390,825 Total segment assets $ 709,677 $ 121,986 $ 118,993 $ 277,038 $ 169,119 $ 51,928 $ 852,136 (A) $ 2,300,877 December 31, 2014 and the Year then Ended Segment revenues Management fees $ 136,110 $ 69,360 $ 113,825 $ 96,715 $ 137,908 $ 46,996 $ — $ 600,914 Incentive income 2,854 65,448 121,768 254,461 16,067 106 — 460,704 Segment revenues - total $ 138,964 $ 134,808 $ 235,593 $ 351,176 $ 153,975 $ 47,102 $ — $ 1,061,618 Fund management distributable $ 88,081 $ 44,577 $ 106,346 $ 111,442 $ 25,443 $ (6,582 ) $ — $ 369,307 Fund management distributable $ 88,081 $ 38,990 $ 87,244 $ 108,765 $ 23,851 $ (6,582 ) $ — $ 340,349 Pre-tax distributable earnings (loss) $ 183,078 $ 40,976 $ 85,988 $ 121,669 $ 22,371 $ (5,267 ) $ (2,757 ) $ 446,058 Total segment assets $ 763,115 $ 173,627 $ 143,428 $ 277,907 $ 235,409 $ 63,413 $ 869,859 (A) $ 2,526,758 December 31, 2013 and the Year then Ended Segment revenues Management fees $ 134,176 $ 61,200 $ 101,890 $ 95,925 $ 110,622 $ 35,833 $ — $ 539,646 Incentive income 13,211 18,101 190,846 120,137 150,700 — — 492,995 Segment revenues - total $ 147,387 $ 79,301 $ 292,736 $ 216,062 $ 261,322 $ 35,833 $ — $ 1,032,641 Fund management distributable $ 95,547 $ 32,235 $ 139,339 $ 57,299 $ 125,482 $ (11,819 ) $ — $ 438,083 Fund management distributable $ 95,547 $ 29,834 $ 120,863 $ 56,112 $ 112,934 $ (11,819 ) $ — $ 403,471 Pre-tax distributable earnings (loss) $ 109,089 $ 31,319 $ 127,450 $ 63,766 $ 116,488 $ (8,542 ) $ (5,184 ) $ 434,386 (A) As of December 31, 2015, unallocated assets included cash of $334.4 million and net deferred tax assets of $427.1 million . As of December 31, 2014, unallocated assets included cash of $382.2 million and net deferred tax assets of $417.6 million . (B) See Note 8. Fund management distributable earnings (loss) is only reduced for the profit sharing component of the Principal Performance Payments. Reconciling items between segment measures and GAAP measures: Year Ended December 31, 2015 2014 2013 Fund management distributable earnings $ 364,079 $ 340,349 $ 403,471 Investment income 31,026 108,914 36,082 Interest expense (4,280 ) (3,205 ) (5,167 ) Pre-tax distributable earnings 390,825 446,058 434,386 Adjust incentive income Incentive income received from private equity funds, the private permanent capital vehicle through IPO in May 2015 vehicle and credit PE funds, subject to contingent repayment (245,447 ) (255,533 ) (126,479 ) Incentive income received from third parties, subject to contingent repayment (4,299 ) (652 ) (264 ) Incentive income from private equity funds, the private permanent capital vehicle through IPO in May 2015 and credit PE funds, not subject to contingent repayment 219,032 171,387 107,276 Incentive income from third parties, not subject to contingent repayment 3,524 — — Incentive income received related to the exercise of options (57,999 ) (8,735 ) (1,921 ) Reserve for clawback, gross (see discussion above) — (1,999 ) (7,397 ) (85,189 ) (95,532 ) (28,785 ) Adjust other income Distributions of earnings from equity method investees* (34,852 ) (71,810 ) (15,316 ) Earnings (losses) from equity method investees* (46,255 ) 68,452 124,401 Gains (losses) on options in equity method investees (5,888 ) (29,913 ) 25,295 Gains (losses) on other investments (6,900 ) (14,069 ) 14,774 Impairment of investments (see discussion above) 6,301 2,701 1,117 Adjust income from the receipt of options 25,158 6,310 42,516 Gain on transfer of Graticule (see Note 1) 134,400 — — 71,964 (38,329 ) 192,787 Adjust employee, Principal and director compensation Adjust employee, Principal and director equity-based compensation expense (including publicly traded permanent capital vehicle options assigned) (34,260 ) (30,610 ) (45,947 ) Adjust employee portion of incentive income from private equity funds, private permanent capital vehicle through IPO in May 2015 and credit PE funds, accrued prior to the realization of incentive income 1,711 (5,550 ) (790 ) (32,549 ) (36,160 ) (46,737 ) Adjust for the transfer of interest in Graticule (see Note 1) (101,000 ) — — Adjust amortization of intangible assets and impairment of goodwill and intangible assets (1,261 ) (81 ) (46 ) Adjust non-controlling interests related to Fortress Operating Group units (102,507 ) (135,029 ) (276,683 ) Adjust tax receivable agreement liability (6,141 ) (33,116 ) (8,787 ) Adjust income taxes (55,650 ) (6,845 ) (65,688 ) Total adjustments (312,333 ) (345,092 ) (233,939 ) Net Income Attributable to Class A Shareholders 78,492 100,966 200,447 Principals’ and Others’ Interests in Income of Consolidated Subsidiaries 103,129 139,956 283,144 Redeemable non-controlling interests in Income (Loss) of Consolidated Subsidiaries (6 ) (709 ) — Net Income (GAAP) $ 181,615 $ 240,213 $ 483,591 * This adjustment relates to all of the private equity, private permanent capital vehicle through IPO in May 2015, credit PE Fortress Funds and hedge fund special investment accounts in which Fortress has an investment. Reconciling items between segment measures and GAAP measures: December 31, 2015 2014 Total segment assets $ 2,300,877 $ 2,526,758 Adjust equity investments from segment carrying amount (11,323 ) (37,169 ) Adjust investments gross of employees' and others' portion 9,825 35,632 Adjust intangible assets to cost (24,098 ) (22,837 ) Total assets (GAAP) $ 2,275,281 $ 2,502,384 December 31, 2015 2014 2013 Total segment revenues $ 1,018,200 $ 1,061,618 $ 1,032,641 Adjust management fees (456 ) 1,324 917 Adjust incentive income* (90,448 ) (96,392 ) (28,785 ) Adjust income from the receipt of options 25,158 6,310 42,516 Adjust other revenues (including expense reimbursements)** 261,402 232,720 217,694 Total revenues (GAAP) $ 1,213,856 $ 1,205,580 $ 1,264,983 * Incentive income received from third parties, not subject to contingent repayment of $5.2 million , $0.9 million and $0.0 million during the years ended December 31, 2015, 2014 and 2013 are included in segment measures as part of incentive income, while included in GAAP as part of other revenues. ** Segment revenues do not include GAAP other revenues, except to the extent they represent management fees or incentive income paid during the current period; 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 Credit Year Ended December 31, Funds Permanent Capital Vehicles Hedge PE Liquid Logan Corporate Total 2015 Depreciation $ 1,619 $ 1,570 $ 5,383 $ 1,531 $ 24,705 $ 503 $ 2,671 $ 37,982 Amortization — — 930 — — 331 — 1,261 Total $ 1,619 $ 1,570 $ 6,313 $ 1,531 $ 24,705 $ 834 $ 2,671 $ 39,243 2014 Depreciation $ 1,585 $ 851 $ 5,462 $ 1,125 $ 7,436 $ 334 $ 2,955 $ 19,748 Amortization — — — — — 81 — 81 Total $ 1,585 $ 851 $ 5,462 $ 1,125 $ 7,436 $ 415 $ 2,955 $ 19,829 2013 Depreciation $ 1,525 $ 606 $ 5,557 $ 422 $ 2,223 $ 271 $ 3,040 $ 13,644 Amortization — — — — — 46 — 46 Total $ 1,525 $ 606 $ 5,557 $ 422 $ 2,223 $ 317 $ 3,040 $ 13,690 (A) Liquid hedge funds include an $18.2 million write-off for the impairment of software and technology related assets for the year ended December 31, 2015.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS These financial statements include a discussion of material events, if any, which have occurred subsequent to December 31, 2015 (referred to as "subsequent events") through the issuance of these consolidated financial statements. Events subsequent to that have not been considered in these financial statements. Subsequent events are described in Notes 1, 3, 4, 5, 7, 8 and 9.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following is unaudited summary information on Fortress’s quarterly operations. Quarter Ended Year Ended March 31 June 30 September 30 December 31 December 31 2015 Total revenues (A) $ 226,689 $ 308,488 $ 264,019 $ 414,660 $ 1,213,856 Total expenses 329,039 258,100 223,934 241,805 1,052,878 Total other income (loss) 207,669 (50,608 ) (62,473 ) (18,163 ) 76,425 Income (Loss) Before Income Taxes 105,319 (220 ) (22,388 ) 154,692 237,403 Income tax benefit (expense) (18,399 ) 5,199 (3,584 ) (39,004 ) (55,788 ) Net Income (Loss) $ 86,920 $ 4,979 $ (25,972 ) $ 115,688 $ 181,615 Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries $ 52,223 $ 1,653 $ (11,727 ) $ 60,980 $ 103,129 Redeemable Non-controlling Interests in Income (Loss) of (16 ) 10 — — (6 ) Net Income (Loss) Attributable to Class A Shareholders 34,713 3,316 (14,245 ) 54,708 78,492 $ 86,920 $ 4,979 $ (25,972 ) $ 115,688 $ 181,615 Net income (loss) per Class A share, basic $ 0.15 $ 0.01 $ (0.07 ) $ 0.24 $ 0.35 Net income (loss) per Class A share, diluted (B) $ 0.15 $ 0.00 $ (0.07 ) $ 0.20 $ 0.28 Weighted average number of Class A shares outstanding, basic 215,785,776 216,183,181 216,439,077 217,587,096 216,503,554 Weighted average number of Class A shares outstanding, diluted 221,535,189 449,210,362 216,439,077 425,302,366 442,686,774 Quarter Ended Year Ended March 31 June 30 September 30 December 31 December 31 2014 Total revenues (A) $ 237,110 $ 270,344 $ 243,180 $ 454,946 $ 1,205,580 Total expenses 231,334 216,284 234,475 309,653 991,746 Total other income (loss) 9,319 27,312 10,975 (14,280 ) 33,326 Income (Loss) Before Income Taxes 15,095 81,372 19,680 131,013 247,160 Income tax benefit (expense) (5,994 ) (7,916 ) (3,024 ) 9,987 (6,947 ) Net Income $ 9,101 $ 73,456 $ 16,656 $ 141,000 $ 240,213 Principals’ and Others’ Interests in Income of Consolidated Subsidiaries $ 6,077 $ 42,100 $ 12,623 $ 79,156 $ 139,956 Redeemable Non-controlling Interests in Income (Loss) of — 157 (2,042 ) 1,176 (709 ) Net Income Attributable to Class A Shareholders 3,024 31,199 6,075 60,668 100,966 $ 9,101 $ 73,456 $ 16,656 $ 141,000 $ 240,213 Net income per Class A share, basic $ 0.01 $ 0.15 $ 0.03 $ 0.28 $ 0.47 Net income per Class A share, diluted (B) $ 0.01 $ 0.12 $ 0.02 $ 0.23 $ 0.43 Weighted average number of Class A shares outstanding, basic 216,934,917 207,783,751 208,014,692 208,607,680 210,303,241 Weighted average number of Class A shares outstanding, diluted 229,033,778 444,566,847 220,792,711 449,618,855 455,154,136 (A) Includes incentive income from hedge funds, which is recognized at the end of the fourth quarter as annual performance criteria are achieved, as well as non-clawbackable incentive income, including “tax distributions”, from credit PE funds, as described in Note 3. (B) Fortress's diluted income (loss) per share for all periods presented includes the income tax effects to net income (loss) attributable to Class A shareholders from the assumed conversion of Fortress Operating Group Units (see Note 8).

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) (“ASU 2016-01”). ASU 2016-01 contains amendments intended to improve certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The new standard is effective for Fortress beginning January 1, 2018. Early adoption is permitted only for certain of the amendments. The standards requires a cumulative effect adjustment to the balance sheet as of the beginning of the period of adoption, with the exception of the amendments related to equity securities without readily determinable fair values (including disclosure requirements) which should be applied prospectively. The adoption of ASU 2016-01 is not expected to have a material impact on Fortress's consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”) which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a reduction from the carrying amount of that debt liability. ASU 2015-03 does not specifically address requirements for the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. In August 2015, the FASB issued ASU No. 2015-15, Interest -Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (“ASU 2015-15”). ASU 2015-15 amends Subtopic 835-30 to include that the SEC would not object to the deferral and presentation of debt issuance costs as an asset and subsequent amortization of the deferred costs over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-03 is effective for Fortress beginning January 1, 2016. The adoption of ASU 2015-03 is not expected to have a material impact on Fortress's consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") which is a comprehensive new revenue recognition standard for contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. ASU 2014-09 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. In July 2015, the FASB deferred the effective date of the new revenue recognition standard. The new standard is effective for Fortress beginning January 1, 2018. Early adoption is permitted but not before the original public entity effective date (that is, annual periods beginning after December 15, 2016). ASU 2014-09 permits the use of either the retrospective or cumulative effect transition method. The adoption of ASU 2014-09 is not expected to have a material impact on Fortress's consolidated balance sheet and consolidated statement of operations. The FASB has recently issued or discussed a number of proposed standards on such topics as financial statement presentation, leases 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. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02"). ASU 2015-02 eliminates the deferral of Statement of Financial Accounting Standards No. 167, Amendments to FASB Interpretation No. 46 (R) previously provided to investment companies and certain other entities pursuant to ASC 810-10-65-2. ASU 2015-02 also amends the evaluation of whether (1) fees paid to a decision maker or service provider represent a variable interest, (2) a limited partnership or similar entity has the characteristics of a variable interest entity ("VIE") and (3) a reporting entity is the primary beneficiary of a VIE. ASU 2015-02 eliminates certain conditions for evaluating whether a fee paid to a decision maker or a service provider represents a variable interest. Fees received by a decision maker or service provider are no longer considered variable interests and are now excluded from the evaluation of whether the reporting entity is the primary beneficiary of a VIE if the fees are both customary and commensurate with the level of effort required for the services provided and the decision maker or service provider does not hold other interests in the entity being evaluated that would absorb more than an insignificant amount of the expected losses or returns of the entity. If the reporting entity determines that it does not have a variable interest in an entity, no further consolidation analysis is performed as the reporting entity would not be required to consolidate the entity. The effective date of ASU 2015-02 is for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. During the first quarter of 2015, Fortress elected to early adopt ASU 2015-02 on a retrospective basis as permitted, for all periods presented. The consolidated financial statements and related footnote disclosures have been adjusted for the impact of the adoption. The adoption did not result in a cumulative effect adjustment to Fortress’s retained earnings (accumulated deficit). Prior to the adoption of ASU 2015-02, during the year ended December 31, 2014, Fortress consolidated New Media, New Senior, a private equity fund and certain investment vehicles formed by certain credit hedge funds, collectively referred to as previously consolidated VIEs. The financial results of the previously consolidated VIEs were included in Fortress's consolidated financial statements in previous filings with the Securities and Exchange Commission, based on the then existing consolidation guidance. The adoption of ASU 2015-02 resulted in the deconsolidation of the previously consolidated VIEs as Fortress determined that under ASU 2015-02, it was not the primary beneficiary of these entities. The fee arrangements with these entities are both commensurate with the level of effort required for the services provided and include only customary terms and Fortress does not hold other interests in these entities that could absorb losses or receive benefits that could potentially be significant to these entities. Therefore, Fortress no longer considers these fee arrangements to be variable interests. Under ASU 2015-02, Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits from these entities that could potentially be significant to these entities.
Basis of Accounting and Consolidation	Basis of Accounting and Consolidation - The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the accounts of Fortress and its consolidated subsidiaries, which are comprised of VIEs in which it is the primary beneficiary as described below and voting interest entities (“VOEs”) in which it is determined to have a controlling financial interest under ASC 810, as amended by ASU 2015-02. For legal entities evaluated for consolidation, Fortress must determine whether the interests that it holds and fees paid to it qualify as a variable interest in the entity. This includes an evaluation of fees paid to Fortress where Fortress acts as a decision maker or service provider to the entity being evaluated. Fees received by Fortress are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions, or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) Fortress's other economic interests in the VIE held directly and indirectly through its related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits. For those entities in which it has a variable interest, Fortress performs an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether 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 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. Performance of such analysis requires the exercise of judgment. The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. Fortress is generally deemed to have a controlling financial interest in a VIE if it has (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to Fortress are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. Fortress also evaluates its economic interests in the VIE held directly by it and indirectly through its related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by Fortress, related parties of Fortress or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated continuously. For VOEs, Fortress shall consolidate the entity if it has a controlling financial interest. Fortress has a controlling financial interest in a VOE if (i) for legal entities other than limited partnerships, Fortress owns a majority voting interest in the VOE or, for limited partnerships and similar entities, Fortress owns a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that Fortress does not control the entity. 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. The evaluation of whether Fortress exerts control or significant influence over the financial and operational policies of an entity requires judgment based on the facts and circumstances surrounding each individual entity. Virtually all of the Fortress Funds, excluding the permanent capital vehicles, are, for GAAP purposes, investment companies. Investment companies record realized and unrealized gains (losses) resulting from changes in the fair value of their investments as a component of current income. Additionally, investment companies generally do not consolidate their majority-owned and controlled investments (the “Portfolio Companies”). Distributions by Fortress and its subsidiaries are recognized when declared. Redeemable Non-controlling Interests represent ownership interests in consolidated subsidiaries which are redeemable and not owned by 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 7). Non-Fortress interests also include employee interests in majority owned and controlled fund advisor and general partner entities. All significant intercompany transactions have been eliminated. Certain prior period amounts have been reclassified to conform to the current period's presentation.
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, a majority 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	Options Received - Fully vested options are issued to Fortress by 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 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 subsequent changes in fair value recognized in 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 and foreign exchange transactions. 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.
Cash and Cash Equivalents	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.
Due from/to Affiliates	Due from/to Affiliates - For purposes of classifying amounts, Fortress considers its principals, employees, directors, all of the Fortress Funds, the Portfolio Companies and Affiliated Managers to be 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.
Fixed Assets, Depreciation and Amortization	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.
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 are 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.
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 on the consolidated balance sheets 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.
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, if any, and on derivatives designated as cash flow hedges, if any, 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 no t material during the years ended December 31, 2015 , 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. Accordingly, incentive income resulting from a realization event within a fund gives rise to the incurrence of a profit sharing obligation and 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 and publicly traded permanent capital vehicles, where incentive income is generally earned on an annual basis, the related compensation expense is accrued during the period for which the incentive income is related. In addition, certain of Fortress's employees are granted rights in options it holds in the publicly traded permanent capital vehicles (the "tandem options"). The fair value of these rights are recorded as profit sharing compensation expense at the grant date. Subsequent to the grant date, the related liability, included in accrued compensation and benefits, is marked to fair value through compensation expense until such time as the rights are exercised or expire. For profit sharing plans related to private equity funds 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 will be received 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, including the level of realized gains generated by the underlying funds which ultimately give rise to incentive income payments. 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 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 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.

ORGANIZATION AND BASIS OF PRE22

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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. 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 credit agreement and other debt obligations. Principals' and Others' Interests in Equity of Consolidated Subsidiaries 7 The GAAP basis of the Principals' and a former senior employee's ownership interests in Fortress Operating Group as well as employees' ownership interests in certain subsidiaries. Statement of Operations Management Fees: Affiliates 3 Fees earned for managing Fortress Funds and other affiliates, generally determined based on the size of such funds. Management Fees: Non-Affiliates 3 Fees earned from managed accounts and the 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). Continued on next page. FINANCIAL STATEMENT GUIDE Selected Financial Statement Captions Note Reference Explanation 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. 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. Principals’ and Others’ Interests in Income 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 Fortress's 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 ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of other assets and other liabilities	Other assets and liabilities are comprised of the following. Other assets are presented net of allowances for uncollectable amounts of $1.2 million and $2.3 million as of December 31, 2015 and 2014 , respectively, and changes thereto were recorded as General and Administrative expense. Other Assets Other Liabilities December 31, December 31, 2015 2014 2015 2014 Fixed assets $ 184,873 $ 154,525 Current taxes payable (Note 6) $ 4,337 $ 4,204 Accumulated depreciation (134,910 ) (99,412 ) Accrued expenses and accounts payable 25,310 25,634 Receivables 25,576 24,997 Deferred rent 15,960 7,459 Equity securities — 17,627 Unearned income 11,243 10,694 Digital currency (Bitcoin) 5,653 6,828 Derivatives 2,201 932 Prepaid compensation, net 14,141 13,091 Accrued fee liability (Note 9) 20,324 30,000 Prepaid expense 17,630 17,418 Miscellaneous liabilities 7,128 9,130 Goodwill and intangibles 14,987 10,417 $ 86,503 $ 88,053 Accumulated amortization (9,606 ) (8,345 ) Derivatives 22,146 27,105 Miscellaneous assets, net 7,820 9,457 $ 148,310 $ 173,708
Summary of accumulated other comprehensive income (loss)	The following table summarizes Fortress’s accumulated other comprehensive income (loss): December 31, 2015 2014 Direct Net foreign currency translation adjustments $ (2,909 ) $ (2,416 ) Accumulated other comprehensive income (loss) $ (2,909 ) $ (2,416 )

MANAGEMENT AGREEMENTS AND FOR24

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Management Agreements [Line Items]
Schedule of management fees and incentive income recognized	Fortress recognized management fees and incentive income as follows: Year Ended December 31, 2015 2014 2013 Private Equity Private Equity Funds Management fees: affil. $ 115,613 $ 135,803 $ 133,725 Management fees: non-affil. — 364 493 Incentive income: affil. 691 22,094 27,790 Permanent Capital Vehicles Management fees: affil. 95,410 67,638 58,206 Management fees, options: affil. 25,158 6,310 42,516 Management fees: non-affil. 1,853 2,910 3,807 Incentive income: affil. 54,199 56,497 15,653 Credit Funds Credit Hedge Funds Management fees: affil. 132,541 113,712 101,699 Management fees: non-affil. 71 146 191 Incentive income: affil. 78,555 120,255 190,581 Credit PE Funds Management fees: affil. 117,624 96,586 95,787 Management fees: non-affil. 116 129 138 Incentive income: affil. 210,600 147,897 78,341 Incentive income: non-affil. 697 1,396 1,145 Liquid Hedge Funds Management fees: affil. 57,695 116,526 85,807 Management fees: non-affil. 6,513 21,365 24,815 Incentive income: affil. 873 15,835 107,463 Incentive income: non-affil. 39 232 43,238 Logan Circle Management fees: affil. 3,068 3,025 2,543 Management fees: non-affil. 50,927 44,034 33,351 Incentive income: affil. 134 — — Incentive income: non-affil. 77 106 — Total Management fees: affil. (including options) $ 547,109 $ 539,600 $ 520,283 Management fees: non-affil. $ 59,480 $ 68,948 $ 62,795 Incentive income: affil. (A) $ 345,052 $ 362,578 $ 419,828 Incentive income: non-affil. $ 813 $ 1,734 $ 44,383 (A) See “Deferred Incentive Income” below. The incentive income amounts presented in this table are based on the estimated results of investment vehicles for each 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	Distributed incentive income amounts in the table below do not include incentive income which is not subject to clawback when received from the Fortress Funds. This also does not include any amounts related to third party funds, receipts from which are reflected as Other Liabilities until all contingencies are resolved. Deferred incentive income from the Fortress Funds was comprised of the following on an inception-to-date basis. 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 Share of income (loss) of Fortress Funds N/A N/A N/A 399,213 Distribution of private equity funds and credit PE 226,780 N/A 226,780 (226,780 ) Distribution of private permanent capital vehicle 217 N/A 217 (217 ) Recognition of previously deferred incentive income N/A (171,387 ) (171,387 ) N/A Changes in foreign exchange rates 1,360 — 1,360 N/A Deferred incentive income as of December 31, 2014 $ 1,243,441 $ (938,915 ) $ 304,526 $ 868,549 Share of income (loss) of Fortress Funds N/A N/A N/A 276,323 Distribution of private equity funds, credit PE 240,215 N/A 240,215 (240,215 ) Distribution of private permanent capital vehicle 6,299 N/A 6,299 (6,299 ) Recognition of previously deferred incentive income N/A (219,032 ) (219,032 ) N/A Changes in foreign exchange rates 321 — 321 N/A Deferred incentive income as of December 31, 2015 $ 1,490,276 (E) $ (1,157,947 ) $ 332,329 $ 898,358 (E) Deferred incentive income including Fortress Funds $ 1,543,932 $ (1,211,603 ) (A) All related contingencies have been resolved. (B) Reflected on the consolidated balance sheet. (C) At December 31, 2015 , the net undistributed incentive income is comprised of $965.3 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 December 31, 2015 at their net asset values. Subsequent to December 31, 2015, Fortress paid $66.9 million to Fund III representing prior net incentive income distributions received ( $45.1 million net of employee amounts). Following such payment, no clawback exists for Fund III. (D) From inception to December 31, 2015 , Fortress has paid $698.8 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 December 31, 2015 , Fortress had recovered $6.4 million from individuals relating to their clawback obligations. Subsequent to December 31, 2015, Fortress recovered an additional $15.1 million from individuals relating to their clawback obligations. If the $965.3 million of gross undistributed incentive income were realized, Fortress would recognize and pay an additional $481.7 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: December 31, 2015 Distributed incentive income - Private Equity Funds $ 847,362 Distributed incentive income - Private Equity Funds in Investment Period or Commitment Period — Distributed incentive income - Credit PE Funds 955,289 Distributed incentive income - Credit PE Funds in Investment Period or Commitment Period 9,767 Distributed incentive income - Permanent Capital Vehicle (see footnote (P) of incentive income threshold tables) 7,043 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 (183,196 ) Distributed-Gross $ 1,490,276
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: December 31, 2015 Undistributed incentive income - Private Equity Funds $ 29,395 Undistributed incentive income - Private Equity Funds in Investment Period or Commitment Period 1,972 Undistributed incentive income - Credit PE Funds 830,361 Undistributed incentive income - Credit PE Funds in Investment Period or Commitment Period 36,018 Undistributed incentive income - Permanent Capital Vehicles — Undistributed incentive income - Hedge Funds (total) 67,515 Undistributed incentive income - Logan Circle — Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds (66,903 ) Undistributed, net of intrinsic clawback $ 898,358
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 December 31, 2015: Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Private Equity Funds NIH (1998) Closed Jun-15 $ 415,574 $ (823,588 ) $ — $ N/A $ N/A $ N/A $ — $ 94,513 $ — $ — $ — Fund I (1999) (K) Closed May-13 1,015,943 (2,847,929 ) — N/A N/A N/A — 344,939 — — — Fund II (2002) Closed Dec-15 1,974,298 (3,446,405 ) — N/A N/A N/A — 289,531 — — — Fund III (2004) In Liquidation 2,762,992 (2,152,525 ) 748,600 138,133 2,295,674 2,157,541 — 66,903 66,903 66,903 45,108 Fund III Coinvestment (2004) In Liquidation 273,649 (231,688 ) 55,533 13,572 267,680 254,108 — — — — — Fund IV (2006) Jan-17 3,639,561 (1,379,503 ) 1,872,736 (387,322 ) 3,131,331 3,518,653 — — — — — Fund IV Coinvestment (2006) Jan-17 762,696 (278,972 ) 342,783 (140,941 ) 669,109 810,050 — — — — — Fund V (2007) Feb-18 4,103,713 (1,615,467 ) 5,097,957 2,609,711 2,680,330 299,493 11,463 — — — — Fund V Coinvestment (2007) Feb-18 990,480 (174,098 ) 483,389 (332,993 ) 768,725 1,101,718 — — — — — GAGACQ Fund (2004) (GAGFAH) Closed Nov-09 545,663 (595,401 ) — N/A N/A N/A — 51,476 — — — FRID (2005) (GAGFAH) Closed Nov-14 1,220,229 (1,202,153 ) — N/A N/A N/A — — — — — FRIC (2006) (Brookdale) Closed Dec-14 328,754 (291,330 ) — N/A N/A N/A — — — — — FICO (2006) (Intrawest) Jan-17 724,525 — (65,229 ) (789,754 ) 711,570 1,501,324 — — — — — FHIF (2006) (Holiday) Jan-17 1,543,463 (788,152 ) 1,195,360 440,049 1,328,550 888,501 — — — — — FECI (2007) (Florida East Coast/Flagler) Feb-18 982,779 (924 ) 911,347 (70,508 ) 890,395 960,903 — — — — — MSR Opportunities Fund I A (2012) Aug-22 341,135 (172,438 ) 292,961 124,264 — N/A 11,965 — — — — MSR Opportunities Fund I B (2012) Aug-22 82,760 (41,707 ) 70,893 29,840 — N/A 2,983 — — — — MSR Opportunities Fund II A (2013) Jul-23 160,653 (33,577 ) 143,717 16,641 — N/A 2,390 — — — — MSR Opportunities Fund II B (2013) Jul-23 2,291 (462 ) 2,047 218 — N/A 23 — — — — MSR Opportunities MA I (2013) Jul-23 36,868 (7,739 ) 32,998 3,869 — N/A 571 — — — — $ 29,395 $ 847,362 $ 66,903 $ 66,903 $ 45,108 Private Equity Funds in Investment or Commitment Period Italian NPL Opportunities Fund (2013) Sep-24 $ 310,705 $ (10,421 ) $ 313,671 $ 13,387 $ — N/A $ 1,972 $ — $ — $ — $ — $ 1,972 $ — $ — $ — $ — Continued on next page. Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Credit PE Funds Long Dated Value Fund I (2005) Apr-30 $ 267,325 $ (128,335 ) $ 282,640 $ 143,650 $ 164,090 $ 20,617 $ 5 $ — $ — $ — $ — Long Dated Value Fund II (2005) Nov-30 274,280 (150,977 ) 195,049 71,746 130,848 59,102 — 412 — — — Long Dated Value Fund III (2007) Feb-32 343,156 (284,616 ) 176,545 118,005 — N/A 12,004 7,571 — — — LDVF Patent Fund (2007) Nov-27 40,731 (34,027 ) 28,043 21,339 — N/A 730 1,471 — — — Real Assets Fund (2007) Jun-17 359,024 (403,818 ) 52,026 96,820 — N/A 7,776 7,231 — — — Credit Opportunities Fund (2008) Oct-20 5,672,867 (7,376,555 ) 1,058,430 2,762,118 — N/A 127,604 414,602 134,423 — — Credit Opportunities Fund II (2009) Jul-22 2,360,538 (2,703,347 ) 936,041 1,278,850 — N/A 116,987 133,797 48,305 — — Credit Opportunities Fund III (2011) Mar-24 3,371,703 (1,899,242 ) 2,234,215 761,754 — N/A 109,283 39,908 — — — FCO Managed Accounts (2008-2012) Apr-22 to Dec-24 4,552,034 (3,770,818 ) 2,418,731 1,637,515 — N/A 184,378 127,107 38,773 — — SIP Managed Account (2010) Sep-20 11,000 (39,230 ) 17,688 45,918 — N/A 4,422 5,646 — — — Japan Opportunity Fund (Yen only) (2009) Jun-19 909,373 (1,593,377 ) 583,060 1,267,064 — N/A 116,060 152,597 35,122 — — Net Lease Fund I (2010) Closed Dec- 15 152,851 (227,108 ) — N/A N/A N/A — 9,743 — — — Real Estate Opportunities Fund (2011) Sep-24 544,586 (370,375 ) 370,554 196,343 — N/A 13,692 3,465 2,791 — — Global Opportunities Fund (2010) Sep-20 331,379 (175,653 ) 236,322 80,596 — N/A 13,496 2,220 2,220 — — Japan Opportunity Fund II (Yen) (2011) Dec-21 706,556 (393,107 ) 756,820 443,371 — N/A 68,135 20,675 — — — Japan Opportunity Fund II (Dollar) (2011) Dec-21 674,509 (394,357 ) 689,439 409,287 — N/A 52,883 26,163 — — — Real Estate Opportunities REOC Fund (2011) Oct-23 57,299 (43,758 ) 41,617 28,076 — N/A 2,906 2,681 1,187 — — $ 830,361 $ 955,289 $ 262,821 $ — $ — Continued on next page. Fund (Vintage) (A) Maturity Date (B) Inception to Date Inception to Date Distributions (C) Net Asset Value (“NAV”) NAV 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) Credit PE Funds in Investment Period or Commitment Period FCO Managed Accounts (2010-2015) Jun-24 to Feb-28 $ 834,923 $ (342,687 ) $ 659,531 $ 167,295 $ 4,358 $ 1,911 $ 20,812 $ 9,767 $ 2,605 $ — $ — Life Settlements Fund (2010) Dec-22 406,548 (299,330 ) 70,386 (36,832 ) 88,508 125,340 — — — — — Life Settlements Fund MA (2010) Dec-22 33,321 (24,482 ) 5,519 (3,320 ) 7,266 10,586 — — — — — Real Estate Opportunities Fund II (2014) May-27 391,421 (56,471 ) 371,321 36,371 — N/A 6,145 — — — — Japan Opportunity Fund III (Yen) (2014) Dec-24 144,822 — 163,488 18,666 — N/A 3,700 — — — — Japan Opportunity Fund III (Dollar) (2014) Dec-24 108,247 — 125,131 16,884 — N/A 3,244 — — — — Credit Opportunities Fund IV (2015) Feb-27 521,250 (31,249 ) 510,715 20,714 — N/A 2,117 — — — — Global Opportunities Fund II (2015) Jul-26 9,330 (36 ) 8,577 (717 ) 195 912 — — — — — CFT Co-invest Fund (CAD) (2015) Oct-25 11,995 — 11,791 (204 ) 29 233 — — — — — CFT Co-invest Fund (USD) (2015) Oct-25 85,154 — 85,047 (107 ) 205 312 — — — — — $ 36,018 $ 9,767 $ 2,605 $ — $ — Publicly Traded Permanent Capital Vehicles Equity Eligible for Incentive (L) Gain to Cross Incentive Income Threshold (F) Undistributed Incentive Income (O) Life-to-Date Incentive Income Crystallized (P) Newcastle $ 751,544 $ (F) $ N/A $ 41,283 Eurocastle 331,145 — — 42,147 New Residential 2,714,461 — N/A 86,576 New Media 645,007 — N/A 29,800 New Senior 1,075,389 578 N/A — FTAI 1,181,237 9,156 — — Incentive Income Eligible Gain to Cross Incentive Income Threshold (M) Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold (N) Undistributed Incentive Year to Date Incentive Income Crystallized (P) Credit Hedge Funds Special Opportunities Funds (S) Main fund investments $ 4,793,583 $ — 100.0 % $ — $ 52,227 Sidepocket investments (Q) 42,399 7 N/A 2,911 — Sidepocket investments - redeemers (R) 141,767 48,640 N/A 4,880 — Main fund investments (liquidating) (T) 426,332 — 100.0 % 54,380 25,172 Managed accounts 1,512 49,209 0.0 % — — Worden Funds Main fund investments 246,827 3,713 85.3 % — 791 Fortress Japan Income Fund (Yen only) Main fund investments 87,832 N/A 100.0 % — 364 Value Recovery Funds (U) Managed accounts 5,734 7,342 33.0 % 29 — Liquid Hedge Funds Macro Funds (S) Sidepocket investments - redeemers (R) $ 100,304 $ 77,947 N/A $ 801 $ 121 Fortress Convex Asia Funds (S) Main fund investments 133,327 11,804 0.0 % — 56 Fortress Partners Funds (S) Main fund investments 2,914 7,851 0.0 % — 49 Sidepocket investments (Q) 59,452 2,175 N/A 4,514 — Fortress Centaurus Global Funds (S) Main fund investments 178,799 2,794 48.0 % — 673 Logan Circle Main fund investments $ 67,393 $ — 100.0 % $ — $ 127 Managed accounts 201,606 3,029 27.2 % — 77 (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) For fund investors whose NAV is below the incentive income threshold, represents the gain needed for these investors to achieve the current relevant performance thresholds, assuming the gain described in (D) above is already achieved. (F) For fund investors whose NAV is below the incentive income threshold, represents the immediate increase in NAV needed for these investors 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 entity's applicable supplemental measure of operating performance needed for Fortress to begin earning incentive income. As of December 31, 2015 , 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. In April 2015, Fortress entered into an amended management agreement with Eurocastle, which reset the earnings threshold for Fortress to earn incentive income. (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 undistributed incentive income amounts presented in this table are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. As of December 31, 2015 , a portion of Fund V and Long Dated Value Fund I's capital is above their 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 December 31, 2015 , Fortress held $20.9 million of such amounts on behalf of employees related to all of the private equity funds. Subsequent to December 31, 2015, Fortress paid $66.9 million to Fund III representing prior net incentive income distributions received ( $45.1 million net of employee amounts). Following such payment, no remaining clawback exists for Fund III. (K) The Fund I distributed incentive income amount is presented for the total fund, of which Fortress was entitled to approximately 50% . (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) Such amount represents, for those investors whose NAV is below the performance threshold, the amount by which their aggregate incentive income thresholds exceed their aggregate NAVs. "Incentive income threshold" or "high water mark" means the immediate increase in NAV needed for Fortress to begin earning incentive income. 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) For hedge funds, 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. For Eurocastle and FTAI, the amount disclosed, if any, represents the amount of additional incentive income Fortress would receive if the measurement period had occurred at the end of the reporting period. The undistributed incentive income amounts presented in this table are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. (P) For hedge funds, represents the amount of incentive income Fortress has earned 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. All of the capital of WWTAI, formerly a private fund managed by Fortress, was contributed to FTAI which completed its IPO in May 2015. Fortress earned $7.0 million in life-to-date incentive income which is not subject to clawback and was not included in the table above. Of the $7.0 million in incentive income from WWTAI, Fortress received $5.9 million in FTAI common shares based on the share price at IPO. A portion of the incentive income crystallized amounts are based on the estimated results of the investment vehicles for the current period. These estimates are subject to change based on the final results of such vehicles. (Q) 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. (R) Represents investments held in sidepockets for investors with no corresponding investment in the related main fund investments. (S) Includes onshore and offshore funds. In the fourth quarter of 2015, Fortress closed the Fortress Macro Funds and related managed accounts. (T) Relates to accounts where investors have provided return of capital notices and are subject to payout as underlying fund investments are realized. (U) Excludes the Value Recovery Funds which had a NAV of $95.8 million at December 31, 2015 . 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.
Private Equity Funds [Member]
Schedule of Management Agreements [Line Items]
Schedule of information with respect to Fortress's management agreements	The following table presents certain information with respect to Fortress’s management agreements with the private equity funds as of December 31, 2015 . Fortress and Total Affiliates Carrying Value Percent of Longest Longest Annual Incentive Incentive Commitments Commitments of Fortress's Commitments Period Termination Management Income Threshold (A) (B) Investments Drawn Ends Date (C) Fee (D) (E) Return (E) $ 17,034,844 $ 2,167,931 $ 608,728 94.5% Sep-2016 Sep-2024 1.0% - 1.5% 10% - 20% 8% - 10% (A) Represents the total amount of capital originally committed by investors to these funds. This capital can be called, or drawn, for new investments during the capital commitment period, generally up to three years for private equity funds. Subsequent to the capital commitment period, it may only be drawn to maintain ongoing business as permitted by the applicable fund agreement. (B) Affiliate commitments are comprised of the following. Fortress’s remaining commitments as of December 31, 2015 are discussed in Note 10. Employees, Former Other Fortress Total Employees and BOD Members Principals Funds Affiliates Fortress Total $ 260,127 $ 543,605 $ 701,996 $ 1,505,728 $ 662,203 $ 2,167,931 (C) Including the assumed exercise of all available extensions, which in some cases require the approval of the applicable fund advisory board. (D) Expressed as a percentage. This percent is generally applied to the capital commitment amount during the capital commitment periods and to invested capital (as defined, or NAV on an investment by investment basis, if lower) thereafter. In some funds, management fee rates vary depending on the size of commitments. Affiliate commitments are not charged management fees. For certain funds formed after March 2006 which are no longer in the capital commitment period, management fees are based on the value of publicly traded investments. The weighted average (by AUM) management fee rate as of December 31, 2015 was approximately 1.2% . (E) Expressed as a percent of the total returns of the funds. The incentive income is subject to: (i) the achievement of a cumulative incentive income threshold return payable to the third party investors in the funds, which is the minimum return these investors must receive in order for incentive income to be paid, and (ii) a contingent repayment or clawback provision which requires amounts previously distributed as incentive income to be returned to each fund if, upon liquidation of such fund, such amounts exceeded the actual amount of incentive income due. Affiliate commitments are not subject to incentive income. The weighted average (by AUM) incentive income rate as of December 31, 2015 was approximately 19.7% , and the weighted average (by AUM) threshold rate was approximately 8.1% .
Permanent Capital Vehicle [Member]
Schedule of Management Agreements [Line Items]
Schedule of information with respect to funds	Annual Incentive Incentive Income Carrying Value of Management Fee (A) Income (B) Threshold Return (B) Fortress's Investments (C) 0.75% - 1.50% 10% - 25% 8% - 10% $ 20,518 (A) Expressed as a percent of contributed capital or book equity (as defined). (B) The incentive income from publicly traded capital vehicles is earned either annually or quarterly on a cumulative basis equal to the product of (1) the incentive income percent (shown above) multiplied by (2) the difference by which (i) a specified measure of earnings (as defined) exceeds (ii) the company's gross equity (as defined) multiplied by the incentive income threshold return (shown above). Additionally, for FTAI, a portion of incentive income is earned annually on a cumulative basis equal to the product of (1) 10% multiplied by (2) realized gains (as defined) subject to certain adjustments. As a result of not meeting the incentive income threshold, the incentive income from Newcastle has been discontinued for an indeterminate period of time. (C) Excludes options held in the publicly traded permanent capital vehicles (Note 4).
Credit Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Schedule of information with respect to funds	The following table presents certain information with respect to the credit hedge funds, including related managed accounts, as of December 31, 2015 . Assets Under Carrying Value of Annual Incentive Management (AUM) Fortress's Investments Management Fee (A) Income (B) Fortress Originated $ 5,843,934 $ 44,804 1% - 2.75% 10% - 20% Non-Fortress Originated (C) 2,954,881 — 1% - 2% 5% - 20% (A) For Fortress originated AUM, expressed as a percent of AUM (as defined). For Fortress originated AUM, the weighted (by AUM) average management fee rate as of December 31, 2015 was approximately 2.0% . For non-Fortress originated AUM, as co-manager of the Mount Kellett funds, Fortress earns a portion of the management fees charged by these funds and for other funds management fees are equal to 1.0% of realized proceeds. (B) For Fortress originated AUM, expressed as a percent of the total returns of fund and the incentive income is earned on a calendar year (annual) basis. For non-Fortress originated AUM, Fortress may receive limited incentive income if aggregate realizations exceed an agreed threshold. (C) Non-Fortress originated funds include the Value Recovery funds and the Mount Kellett funds.
Credit PE Funds [Member]
Schedule of Management Agreements [Line Items]
Schedule of information with respect to funds	The following table presents certain information with respect to Fortress’s management agreements with the credit PE funds, including related managed accounts, as of December 31, 2015 . Total Fortress and Carrying Percent of Longest Longest Incentive Original Affiliates Value Capital Capital Fund Annual Income Capital Original Capital of Fortress's Commitments Commitment Termination Management Incentive Threshold Commitments (A) Commitments (B) Investments Drawn Period Ends (C) Date (D) Fee (E) Income (F) Return (F) $ 21,544,279 $ 1,268,409 $ 187,664 58.1 % Nov-2027 Feb-2032 0.75% - 2.25% 10% - 20% 0% - 9% (A) Represents the total amount of capital originally committed by investors to these funds. This capital can be called, or drawn, for new investments during the capital commitment period, generally up to three years. Subsequent to the capital commitment period, it may only be drawn to maintain ongoing business as permitted by the applicable fund agreement. (B) Affiliate commitments are comprised of the following. Fortress’s remaining commitments as of December 31, 2015 are discussed in Note 10. Employees, Former Other Fortress Total Employees and BOD Members Principals Funds Affiliates Fortress Total $ 219,003 $ 113,433 $ 616,406 $ 948,842 $ 319,567 $ 1,268,409 (C) Of the total original capital commitments, $4.6 billion relates to funds that have a capital commitment period extending beyond December 2018. (D) Of the total original capital commitments, $6.5 billion relates to funds that have a termination date (including the assumed exercise of all available extensions, which in some cases requires the approval of the applicable fund advisory board) extending beyond December 2025. (E) Expressed as a percent. This percent is generally applied to the capital commitment amount during the capital commitment periods and to invested capital (as defined, or NAV on an investment by investment basis, if lower) thereafter. In some funds, management fee rates vary depending on the size of commitments. Affiliate commitments are not charged management fees. The weighted (by AUM) average management fee rate as of December 31, 2015 was approximately 1.3% . (F) Expressed as a percent of the total returns of the funds. The incentive income is subject to: (i) the achievement of a cumulative incentive income threshold return payable to the third party investors in the funds, which is the minimum return these investors must receive in order for incentive income to be paid, and (ii) a contingent repayment or clawback provision which requires amounts previously distributed as incentive income to be returned to each fund if, upon liquidation of such fund, such amounts exceeded the actual amount of incentive income due. Affiliate commitments are not subject to incentive income. The weighted (by AUM) incentive income rate as of December 31, 2015 was approximately 19.8% and the weighted average threshold was approximately 7.7% .
Liquid Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Schedule of information with respect to funds	The following table presents certain information with respect to the liquid hedge funds, as of December 31, 2015 . Assets Under Carrying Value of Annual Incentive Management (AUM) Fortress's Investments Management Fee (A) Income (B) Fortress Originated $ 912,437 $ 135,777 1% - 2% 18% - 20% Affiliated Managers $ 4,496,157 $ 34,392 See Note 1 See Note 1 (A) Expressed as a percent of AUM (as defined). New investors are currently charged a management fee rate of between 1% and 2% . The weighted (by AUM) average management fee rate as of December 31, 2015 was approximately 1.3% . (B) Expressed as a percent of the total returns of the funds. The incentive income is generally earned on a calendar year (annual) basis. The weighted (by AUM) average incentive income rate as of December 31, 2015 was approximately 19.7% .

INVESTMENTS AND FAIR VALUE (Tab

INVESTMENTS AND FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2015
Investments and Fair Value [Line Items]
Summary of investments	Investments can be summarized as follows: December 31, 2015 December 31, 2014 Equity method and other investees $ 1,034,189 $ 1,106,338 Equity method investees, held at fair value (A) 21,600 15,207 Total investments $ 1,055,789 $ 1,121,545 Options in equity method investees $ 30,427 $ 71,844 (A) Includes the publicly traded private equity portfolio companies and publicly traded permanent capital vehicles, including FTAI which completed its IPO in May 2015 (see Note 3).
Summary of gains (losses)	Gains (losses) are summarized as follows: Year Ended December 31, 2015 2014 2013 Net realized gains (losses) $ 4,495 $ (8,431 ) $ 1,247 Net realized gains (losses) from affiliate investments (A) 31,751 47,624 12,030 Net unrealized gains (losses) (6,127 ) 25,661 6,273 Net unrealized gains (losses) from affiliate investments (A) (49,038 ) (76,611 ) 34,383 Total gains (losses) $ (18,919 ) $ (11,757 ) $ 53,933 (A) Includes the impact of the exercise of options in New Residential in June 2015 and the sale of GAGFAH shares which was completed in June 2014.
Schedule of gains (losses) generated	These gains (losses) were generated as follows: Year Ended December 31, 2015 2014 2013 Mark to fair value on affiliate investments and options $ (17,175 ) $ (28,591 ) $ 46,371 Mark to fair value on derivatives 1,784 26,715 8,402 Mark to fair value on equity securities (509 ) 965 2,962 Gains (losses) on digital currency (Bitcoin) (1,175 ) (9,470 ) (3,702 ) Other (1,844 ) (1,376 ) (100 ) Total gains (losses) $ (18,919 ) $ (11,757 ) $ 53,933
Summary of changes in investments in equity method investees	A summary of the changes in Fortress’s investments is as follows: Private Equity Funds Publicly Traded Portfolio Companies (A) Permanent Capital Vehicles (A) Credit Hedge Funds Credit PE Funds Liquid Hedge Funds (B) Other Total Investment - December 31, 2013 $ 786,093 $ 63,001 $ 19,188 $ 58,825 $ 159,044 $ 158,920 $ 8,195 $ 1,253,266 Earnings from equity method and other 36,413 N/A 70 8,236 28,693 3,844 943 78,199 Contributions to equity method and other 2,994 — 5,640 168,699 43,331 89,324 596 310,584 Distributions of earnings from equity (70,409 ) N/A (79 ) (7,483 ) (28,477 ) (4,487 ) (32 ) (110,967 ) Distributions of capital from equity (78,155 ) N/A (4,148 ) (171,053 ) (17,124 ) (128,505 ) (118 ) (399,103 ) Total distributions from equity (148,564 ) N/A (4,227 ) (178,536 ) (45,601 ) (132,992 ) (150 ) (510,070 ) Consolidation of Investment Company — — — — — — 6,990 6,990 Mark to fair value - during period (D) (1,795 ) 5,200 (936 ) N/A N/A N/A (657 ) 1,812 Translation adjustment (7 ) (742 ) (279 ) — (2,338 ) — — (3,366 ) Dispositions — (66,424 ) — — (2 ) — (210 ) (66,636 ) Reclassification to Due to Affiliates (E) 2,232 — — — — — — 2,232 Deconsolidation of Liquid Hedge Fund (F) — — — — — 48,534 — 48,534 Investment - December 31, 2014 677,366 1,035 19,456 57,224 183,127 167,630 15,707 1,121,545 Earnings (losses) from equity method and (49,346 ) N/A 89 3,920 19,630 (6,387 ) (821 ) (32,915 ) Contributions to equity method and other 5,227 50 7,742 118,332 43,005 13,844 825 189,025 Distributions of earnings from equity (14,342 ) N/A (173 ) (3,511 ) (22,909 ) (658 ) (2,265 ) (43,858 ) Distributions of capital from equity (7,899 ) N/A (216 ) (131,161 ) (77,003 ) (37,660 ) (22 ) (253,961 ) Total distributions from equity (22,241 ) N/A (389 ) (134,672 ) (99,912 ) (38,318 ) (2,287 ) (297,819 ) Mark to fair value - during period (D) (412 ) (3 ) (6,152 ) N/A N/A N/A (991 ) (7,558 ) Net purchases of investments by — — — — 41,985 — 10,391 52,376 Translation adjustment (1,413 ) — (228 ) — (123 ) — — (1,764 ) Dispositions (2,683 ) — — — (48 ) — — (2,731 ) Reclassification to Due to Affiliates (E) 2,230 — — — — — — 2,230 Retained interest in Graticule (Note 1) — — — — — 33,400 — 33,400 Investment - December 31, 2015 $ 608,728 $ 1,082 $ 20,518 $ 44,804 $ 187,664 $ 170,169 $ 22,824 $ 1,055,789 Undistributed earnings - December 31, $ 42,572 $ N/A $ — $ 3,404 $ 10,346 $ 3,136 $ — $ 59,458 (A) Fortress elected to record the common shares held in the publicly traded private equity portfolio companies and publicly traded permanent capital vehicles, including FTAI which completed its IPO in May 2015 (see Note 3), at fair value pursuant to the fair value option for financial instruments. (B) Includes Fortress's investment in Affiliated Managers. (C) The amounts presented above can be reconciled to the amounts presented on the statement of cash flows as follows: Year Ended December 31, 2015 2014 Contributions Distributions of Capital Contributions Distributions of Capital Per Consolidated Statements of Cash Flows $ 33,855 $ (235,290 ) $ 36,110 $ (379,940 ) Investments of incentive receivable amounts 138,026 — 258,023 — Change in distributions payable out of Fortress — (177 ) — 172 Net funded* 17,094 (17,094 ) 16,451 (16,451 ) Other 50 (1,400 ) — (2,884 ) Per Above $ 189,025 $ (253,961 ) $ 310,584 $ (399,103 ) * 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. (D) Recorded to Gains (Losses). (E) Represents a portion of the general partner liability (Note 10). (F) In December 2014, Fortress deconsolidated a liquid hedge fund (Note 4) and the amount disclosed represents Fortress’s investment in the fund as of the date of deconsolidation. In December 2015, Fortress deconsolidated a credit PE fund and subsequently received a $42.0 million capital distribution from the fund (Note 4).
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: Year Ended December 31, 2015 2014 Contributions Distributions of Capital Contributions Distributions of Capital Per Consolidated Statements of Cash Flows $ 33,855 $ (235,290 ) $ 36,110 $ (379,940 ) Investments of incentive receivable amounts 138,026 — 258,023 — Change in distributions payable out of Fortress — (177 ) — 172 Net funded* 17,094 (17,094 ) 16,451 (16,451 ) Other 50 (1,400 ) — (2,884 ) Per Above $ 189,025 $ (253,961 ) $ 310,584 $ (399,103 ) * 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. 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 (B) December 31, (or year then ended) 2015 2014 2013 Assets $ 11,950,687 $ 13,484,372 Debt (3,144 ) (3,251 ) Other liabilities (151,778 ) (143,363 ) Equity $ 11,795,765 $ 13,337,758 Fortress’s Investment $ 608,728 $ 677,366 Ownership (A) 5.2 % 5.1 % Revenues and gains (losses) on investments $ (1,126,186 ) $ 731,574 $ 2,335,934 Expenses (178,022 ) (194,509 ) (208,301 ) Net Income (Loss) $ (1,304,208 ) $ 537,065 $ 2,127,633 Fortress’s earnings (losses) from equity method investees $ (49,346 ) $ 36,413 $ 81,470 Credit Hedge Funds Credit PE Funds (B) (C) December 31, (or year then ended) 2015 2014 2013 2015 2014 2013 Assets $ 10,959,844 $ 11,349,879 $ 12,770,674 $ 11,992,369 Debt (4,413,323 ) (4,621,360 ) (259,114 ) (67,618 ) Other liabilities (174,397 ) (283,818 ) (373,224 ) (824,837 ) Non-controlling interest (11,068 ) (14,406 ) (3,963 ) (4,852 ) Equity $ 6,361,056 $ 6,430,295 $ 12,134,373 $ 11,095,062 Fortress’s Investment $ 44,804 $ 57,224 $ 187,664 $ 183,127 Ownership (A) 0.7 % 0.9 % 1.5 % 1.7 % Revenues and gains (losses) on $ 747,861 $ 1,011,969 $ 1,295,945 $ 1,718,546 $ 2,381,032 $ 1,835,118 Expenses (403,646 ) (340,373 ) (255,222 ) (310,125 ) (369,653 ) (325,436 ) Net Income (Loss) $ 344,215 $ 671,596 $ 1,040,723 $ 1,408,421 $ 2,011,379 $ 1,509,682 Fortress’s earnings (losses) from equity method investees $ 3,920 $ 8,236 $ 12,242 $ 19,630 $ 28,693 $ 29,824 Liquid Hedge Funds (D) December 31, (or year then ended) 2015 2014 2013 Assets $ 2,279,590 $ 13,132,531 Debt — — Other liabilities (829,515 ) (5,733,970 ) Non-controlling interest — — Equity $ 1,450,075 $ 7,398,561 Fortress’s Investment $ 170,169 $ 167,630 Ownership (A) 11.7 % 2.3 % Revenues and gains (losses) on investments $ (190,659 ) $ 220,958 $ 838,506 Expenses (212,545 ) (219,303 ) (159,892 ) Net Income (Loss) $ (403,204 ) $ 1,655 $ 678,614 Fortress’s earnings (losses) from equity method investees $ (6,387 ) $ 3,844 $ 13,124 (A) Excludes ownership interests held by other Fortress Funds, the Principals, employees, directors 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 periods ended September 30, 2015, 2014 and 2013 , respectively). 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, as permitted, 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. (D) For liquid hedge funds, 2015 includes amounts related to Fortress's retained interest in Graticule. Amounts in 2014 and 2013 include the Fortress Asia Macro Funds and related managed accounts which were transferred to Graticule in January 2015.
Schedule of all variable interest entities	The following tables set forth certain information regarding VIEs in which Fortress held a variable interest as of December 31, 2015 and 2014 , respectively. Fortress is not Primary Beneficiary December 31, 2015 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 1 $ 136,129 $ — $ 1,959 (D) Permanent Capital Vehicles 6 23,618,598 15,581,168 114,228 (C) Credit Hedge Funds 8 1,912,019 426,988 5,405 (D) (E) Credit PE Funds 35 990,008 232,082 9,659 (D) (E) Liquid Hedge Funds 4 364,535 1,270 39,192 (D) (E) Fortress is not Primary Beneficiary December 31, 2014 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 2 $ 85,553 $ — $ 56 (D) Permanent Capital Vehicles 5 14,539,141 10,336,207 154,346 (C) Credit Hedge Funds 8 1,976,328 152,806 25,474 (D) (E) Credit PE Funds 30 735,855 143,743 5,897 (D) (E) Liquid Hedge Funds 2 3,070,203 432,580 7,094 (D) Fortress is Primary Beneficiary December 31, 2015 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 9 $ 71,277 $ — $ 18,666 (F) (G) Credit PE Funds 2 400 — 20 (F) Liquid Hedge Funds 1 6,126 — 2,821 (F) Logan Circle 1 4,468 — 4,317 (F) Fortress is Primary Beneficiary December 31, 2014 Business Number of VIEs Gross Assets (A) Financial Obligations (A) Fortress Investment (B) Notes (H) Private Equity Funds 9 $ 90,723 $ — $ 20,368 (F) (G) Credit PE Funds 2 434 — 22 (F) Liquid Hedge Funds 3 8,714 — 4,125 (F) Logan Circle 1 6,566 — 4,783 (F) (A) Represents financial obligations of the VIEs which are not recourse to Fortress and assets of the VIEs which Fortress does not have the right to make use of to satisfy its obligations. 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. 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. Of the financial obligations represented herein as of December 31, 2015 , for VIEs where Fortress is not the primary beneficiary, $15,192.6 million , $423.4 million , $232.1 million and $1.2 million represent financial borrowings which have weighted average maturities of 2.0 years, 9.7 years, 2.3 years and 11.0 years for the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. Of the financial obligations represented herein as of December 31, 2014 , $9,911.4 million , $151.7 million , and $143.7 million represent financial borrowings which have weighted average maturities of 1.9 years, 7.6 years, and 2.3 years for the permanent capital vehicles, credit hedge funds, and credit PE funds, respectively. (B) Represents Fortress’s maximum exposure to loss with respect to these entities, which includes 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 permanent capital vehicles 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 group of at-risk equity holders does not have the power, through voting rights or similar rights, to direct the activities that most significantly affect the success of the entity or impact the entity's economic performance. Fortress is not the primary beneficiary of these entities. Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to these entities. (D) Includes entities, primarily investing vehicles set up on behalf of the Fortress Funds to make investments, 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 power, through voting rights or similar rights, to direct 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. Fortress is not the primary beneficiary of these entities. Fortress and its related parties under common control as a group, where applicable, do not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to these entities. (E) Includes entities that are a VIE because the entity's equity investment at-risk is determined to be insufficient. Fortress is not the primary beneficiary of these entities because Fortress does not have the power to direct the activities that most significantly impact the economic performance of these entities. (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 either (i) the group of at-risk equity holders does not have the power, through voting rights or similar rights, to direct 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. 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 or the obligation to absorb losses from the VIE that potentially could be significant to the entity. (G) 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. (H) As of December 31, 2015 , for VIEs where Fortress is not the primary beneficiary, Fortress's investment included: (i) management fees receivable of $17.3 million which is comprised of $12.3 million , less than $0.1 million , $0.8 million and $4.1 million from the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively, (ii) incentive income receivable of $39.7 million which is comprised of $37.3 million and $2.4 million from the permanent capital vehicles and credit hedge funds, respectively, and (iii) expense reimbursements, dividends and other receivables of $16.7 million which is comprised of $1.9 million , $13.6 million , $0.9 million , $0.1 million and $0.2 million from the private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. As of December 31, 2014 , for VIEs where Fortress is not the primary beneficiary, Fortress's investment included: (i) management fees receivable of $7.1 million which is comprised of $6.1 million , $0.5 million and $0.5 million from the permanent capital vehicles, credit hedge funds and credit PE funds, respectively, (ii) incentive income receivable of $79.8 million which is comprised of $55.3 million , $21.9 million and $2.6 million from the permanent capital vehicles, credit hedge funds and liquid hedge funds, respectively and (iii) expense reimbursements, dividends and other receivables of $11.9 million which is comprised of $6.9 million , $1.1 million , $0.1 million and $3.8 million from the permanent capital vehicles, credit hedge funds, credit PE funds and liquid hedge funds, respectively. As of December 31, 2015 , for VIEs where Fortress is the primary beneficiary, Fortress's investment included: (i) management fees receivable of less than $0.1 million from Logan Circle, and (ii) advances of $10.1 million to an operating subsidiary of one of the private equity funds. These receivables and advances are eliminated in consolidation but still represent Fortress’s economic exposure to the VIEs. As of December 31, 2014 , for VIEs where Fortress was the primary beneficiary, Fortress's investment included: (i) management fees receivable of less than $0.1 million from Logan Circle, and (ii) advances of $10.3 million to an operating subsidiary of one of the private equity funds. These receivables and advances are eliminated in consolidation but still represent Fortress's economic exposure to the VIEs.
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 December 31, 2015 December 31, 2014 Valuation Method Assets (within Investments) Common shares of publicly traded permanent capital vehicles (A) $ 20,518 $ 14,172 Level 1 - Quoted prices in active markets for identical assets Common stock of publicly traded 1,082 1,035 Level 1 - Quoted prices in active markets for identical assets Total equity method investments $ 21,600 $ 15,207 Options in equity method investees $ 30,427 $ 71,844 Level 2 - Option valuation models using significant observable inputs Assets (within Other Assets) Derivatives 22,146 27,105 Level 2 - See below Equity Securities (B) — 17,627 Level 1 - Quoted prices in active markets for identical assets Liabilities (within Accrued Compensation and Benefits) Options in affiliates granted to (3,010 ) (8,356 ) Level 2 - Option valuation models using significant observable inputs Liabilities (within Other Liabilities) Derivatives (2,201 ) (932 ) Level 2 - See below (A) FTAI completed its IPO in May 2015 and Fortress elected to record its interest at fair value pursuant to the fair value option for financial instruments. (B) These equity securities were held at fair value and classified as trading and were all sold during the first quarter of 2015.
Schedule of assumptions used in valuing the options	The assumptions used in valuing the options at December 31, 2015 were: Risk-Free Rate Dividend Yield (A) Volatility Newcastle 0.80% - 2.11% 10.93% - 17.99% 26.40% - 35.51% New Residential 0.80% - 2.17% 9.83% - 18.13% 25.76% - 28.81% New Media 2.11% - 2.14% 4.30% - 4.46% 36.15% New Senior 0.80% - 2.17% 8.13% - 14.70% 23.21% - 26.62% Eurocastle 0.05% - 0.93% 4.49% - 5.68% 24.81% - 26.89% (A) Options which are due to expire prior to the expected payment of future dividends are valued using a 0.00% dividend yield.
Schedule of equity method investments options held	The following table summarizes options in the publicly traded permanent capital vehicles held as of December 31, 2015 , which were issued prior to 2011: Entity Weighted Average Option Strike Price Options held by Fortress Newcastle $ 13.16 115,239 New Senior $ 56.01 115,239 New Residential $ 31.31 345,720 Eurocastle € 6,151.76 18,886
Schedule of the entity's derivatives (not designated as hedges)	Fortress’s derivatives (not designated as hedges) are recorded as follows: Balance Sheet December 31, 2015 (or year ended) Maturity Classification (A) Fair Value Notional Amount Gains/(Losses) (B) Date Foreign exchange option contracts Other Assets $ 21,884 ¥ 40,160,526 $ 1,788 Feb-16 - Mar-18 Foreign exchange option contracts Other Liabilities $ (994 ) ¥ 8,593,346 $ (532 ) Jun-16 - Mar-18 Foreign exchange forward contracts Other Assets $ 262 ¥ 2,568,543 $ 186 Jan-16 - Dec-17 Foreign exchange forward contracts Other Liabilities $ (590 ) ¥ 6,106,852 $ (590 ) Jan-16 - Jun-16 Foreign exchange forward contracts Other Liabilities $ (617 ) C$ 123,802 $ (617 ) Jun-16 (A) Fortress has a master netting agreement with its counterparty. (B) Reflects unrealized gains (losses) related to contracts existing at period end. Total net foreign exchange gains (losses) from derivatives were $1.8 million , $26.7 million and $8.4 million during the years ended December 31, 2015 , 2014 and 2013 .
Schedule of offsetting of derivative assets	The following tables summarizes the fair value of Fortress's derivative contacts on a gross basis and any amount of offset as permitted by netting agreements as of December 31, 2015 . Net Amounts of Gross Amounts Offset Assets Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Assets as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Assets December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ 23,616 $ (1,732 ) $ 21,884 Foreign exchange forward contracts 262 — 262 $ 23,878 $ (1,732 ) $ 22,146 Net Amounts of Gross Amounts Offset Liabilities Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Liabilities as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Liabilities December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ (2,054 ) $ 1,060 $ (994 ) Foreign exchange forward contracts (1,207 ) — (1,207 ) $ (3,261 ) $ 1,060 $ (2,201 ) The counterparty on the outstanding derivatives is Citibank N.A.
Schedule of offsetting of derivative liabilities	The following tables summarizes the fair value of Fortress's derivative contacts on a gross basis and any amount of offset as permitted by netting agreements as of December 31, 2015 . Net Amounts of Gross Amounts Offset Assets Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Assets as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Assets December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ 23,616 $ (1,732 ) $ 21,884 Foreign exchange forward contracts 262 — 262 $ 23,878 $ (1,732 ) $ 22,146 Net Amounts of Gross Amounts Offset Liabilities Presented Gross Amounts of in the Consolidated in the Consolidated Recognized Liabilities as of Balance Sheet as of Balance Sheet as of Offsetting of Derivative Liabilities December 31, 2015 December 31, 2015 December 31, 2015 Foreign exchange option contracts $ (2,054 ) $ 1,060 $ (994 ) Foreign exchange forward contracts (1,207 ) — (1,207 ) $ (3,261 ) $ 1,060 $ (2,201 ) The counterparty on the outstanding derivatives is Citibank N.A.
Newcastle [Member]
Investments and Fair Value [Line Items]
Summary of common stock offerings and options granted to the entity	The following table summarizes certain Newcastle options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Strike Price Fair Value of Options Issued As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2011 718,750 $1.00 $1,182 583,149 — 583,149 2012 1,121,250 $1.00 $2,017 949,997 — 949,997 2013 2,978,348 $2.32 - $3.57 $4,513 2,978,338 266,657 2,711,681 2014 765,416 $4.01 $360 765,416 — 765,416
New Residential [Member]
Investments and Fair Value [Line Items]
Summary of common stock offerings and options granted to the entity	The following table summarizes certain New Residential options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2012 3,363,750 $ 6.82 - $ 7.34 $11,768 25,000 — 25,000 2013 4,025,000 $10.24 - $11.48 $14,428 1,936,068 1,100,497 835,571 2014 1,437,500 $12.20 $1,604 1,437,500 258,750 1,178,750 2015 8,543,539 $15.25 - $15.88 $12,705 8,543,539 — 8,543,539
New Senior [Member]
Investments and Fair Value [Line Items]
Summary of common stock offerings and options granted to the entity	The following table summarizes certain New Senior options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2011 718,750 $ 4.09 - $ 7.18 $4,535 465,832 — 465,832 2012 1,121,250 $7.66 - $8.75 $7,739 916,029 — 916,029 2013 2,978,348 $14.42 - $19.23 $17,328 2,978,338 266,657 2,711,681 2014 765,416 $20.89 $1,383 765,416 — 765,416 2015 2,011,409 $13.75 $2,978 2,011,409 — 2,011,409
New Media [Member]
Investments and Fair Value [Line Items]
Summary of common stock offerings and options granted to the entity	The following table summarizes New Media options held by Fortress: Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2014 745,062 $15.71 $2,963 745,062 92,751 652,311 2015 700,000 $21.70 $4,144 700,000 — 700,000
Eurocastle [Member]
Investments and Fair Value [Line Items]
Summary of common stock offerings and options granted to the entity	The following table summarizes select Eurocastle options held by Fortress. Options Issued During Year of Grant Public Offering Price/Option Fair Value of As of December 31, 2015 Year of Grant Total Tandem Options held by Employees Available to Fortress 2013 1,500,000 €7.25 €4,807 1,500,000 — 1,500,000 2015 3,976,299 €7.85 €4,756 3,976,299 — 3,976,299

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of line of credit facilities	The following table presents summarized information regarding Fortress's debt obligations: Face Amount and Carrying Value Contractual Final December 31, 2015 December 31, Interest Stated Amount Debt Obligation 2015 2014 Rate Maturity Available for Draws Revolving credit agreement (A) (B) $ 75,000 $ 75,000 LIBOR+2.50% (C) Feb 2016 $ 72,332 Promissory note (D) 155,677 — 5.00% Nov 2017 N/A Total $ 230,677 $ 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. (D) Issued to a principal in exchange for his Fortress Operating Group units and Class B shares in Fortress.
Schedule of the financial covenant requirements	The following table sets forth the financial covenant requirements as of December 31, 2015 . December 31, 2015 (dollars in millions) Requirement Actual Notes AUM, as defined ≥ $ 25,000 $ 46,563 (A) Consolidated Leverage Ratio ≤ 2.00 0.59 (B) Consolidated Interest Coverage Ratio ≥ 4.00 86.73 (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 of Management Fee Earning Assets contained in the 2013 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 2013 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.

INCOME TAXES AND TAX RELATED 27

INCOME TAXES AND TAX RELATED PAYMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of components of provision for income taxes	The provision for income taxes consists of the following: Year Ended December 31, 2015 2014 2013 Current Federal income tax expense (benefit) $ 8,552 $ 7,558 $ 1,185 Foreign income tax expense (benefit) 19,570 12,258 8,875 State and local income tax expense (benefit) 7,335 5,175 1,310 35,457 24,991 11,370 Deferred Federal income tax expense (benefit) 23,209 (1,051 ) 47,953 Foreign income tax expense (benefit) 3,472 1,115 65 State and local income tax expense (benefit) (A) (6,350 ) (18,108 ) 6,413 20,331 (18,044 ) 54,431 Total expense (benefit) $ 55,788 $ 6,947 $ 65,801 (A) During the year ended December 31, 2015 and 2014 New York City and New York State, respectively, enacted corporate tax law changes which increased the value of certain future tax benefits.
Schedule of federal taxable income for historical periods, estimated for the current period as well as the average ordinary income needed over the approximate period of the deductibility in order to fully realize deferred tax asset	The following table sets forth Fortress’s federal taxable income for historical periods before deductions relating to the establishment of the deferred tax assets, other than deferred tax assets arising from equity-based compensation, as well as the average ordinary income needed over the approximate period of the deductibility (approximately 15 years from the date of establishment, based on the amortization period of the tax basis intangible assets recorded) in order to fully realize the portion of the deferred tax asset that would be realized in connection with future ordinary income (in millions): 2011 $ 53.5 2012 80.9 2013 90.7 2014 150.9 2015: Estimated 143.9 2016 - 2023: Average Required $ 84.1
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: December 31, 2015 2014 Pre-IPO equity transaction - tax basis adjustment Tax basis goodwill and other intangible assets $ 214,625 $ 235,372 Other assets 6,770 19,161 Principals’ (and a former senior employee’s) exchanges - tax basis adjustment Tax basis goodwill and other intangible assets 85,501 76,390 Other assets 3,340 2,417 Public offering basis difference (947 ) (922 ) Compensation and benefits 12,776 11,017 Options in affiliates 2,767 3,558 Partnership basis differences (A) 121,288 77,158 Other 23,639 15,008 Gross deferred tax assets 469,759 439,159 Less: Valuation allowance (39,616 ) (13,072 ) Deferred tax liabilities (B) (3,041 ) (8,464 ) Deferred tax assets, net $ 427,102 $ 417,623 (A) Difference in book and tax basis from underlying partnership investments. (B) The deferred tax liabilities primarily relate to timing differences in the recognition of income from options received from certain 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.
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 Due to FIG Corp. ownership change (2,575 ) Net decreases (A) (34,158 ) Valuation Allowance at December 31, 2014 $ 13,072 Due to FIG Corp. ownership change 3,095 Net increases (A) 23,449 Valuation Allowance at December 31, 2015 $ 39,616 (A) In 2015, the increases are primarily related to the change in the portion of the deferred tax asset that would be realized only in connection with future capital gains and therefore required a full valuation allowance. In 2014, the decreases were primarily related to the reversal of the valuation allowance on previously fully reserved deferred tax assets associated with funds in the process of liquidation.
Schedule of reconciliation of the U.S. federal statutory income tax expense rate to effective income tax expense rate	A reconciliation of the U.S. federal statutory income tax expense rate to Fortress’s effective income tax expense rate is as follows: Year Ended December 31, 2015 2014 2013 Statutory U.S. federal income tax rate 35.00 % 35.00 % 35.00 % (Income) loss passed through to stockholders (14.75 )% (17.95 )% (13.30 )% State and local income taxes 3.81 % 6.08 % 4.33 % Change in tax rate on certain deferred tax benefits (A) (5.76 )% (16.08 )% (0.60 )% Tax receivable agreement liability adjustment (B) 1.60 % 10.74 % 1.16 % Foreign taxes 6.59 % 6.54 % 1.55 % Deferred tax asset write-off (C) — % 14.00 % 8.41 % Valuation allowance (C)(D) 17.46 % (31.65 )% (11.95 )% Other (2.40 )% (0.24 )% 0.11 % Effective income tax rate (E) 41.55 % 6.44 % 24.71 % (A) Primarily related to enacted legislative changes to New York City and New York State corporate taxation in 2015 and 2014, respectively, which increased the value of certain future tax benefits. (B) Relates to the tax receivable agreement discussed below, which is not tax deductible and represents a significant permanent tax/GAAP difference. (C) In 2014, write-off of deferred tax assets relating to public offering basis difference, fully offset by a reversal of the related valuation allowance. In 2013, write-off of deferred tax assets relating to the tax shortfall created by the vesting of RSUs and RPUs. (D) In 2015, primarily related to the change in the portion of the deferred tax asset that would be realized only in connection with future capital gains and therefore required a full valuation allowance. In 2014 and 2013, primarily related to the reversal of the valuation allowance on previously fully reserved deferred tax assets associated with funds in the process of liquidation. (E) The Effective income tax rate is computed by dividing Income tax benefit (expense) for the period by the sum of (i) Income (Loss) Before Income Taxes less (ii) Principals' and Others' Interests in Income (Loss) of Consolidated Subsidiaries for the period.

RELATED PARTY TRANSACTIONS AN28

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of components of due from affiliates	Due from affiliates was comprised of the following: Private Equity Credit Liquid Permanent Hedge PE Hedge Logan December 31, 2015 Funds Capital Vehicles Funds Funds Funds Circle Other (B) Total Management fees and incentive income (A) $ 41,706 $ 49,578 $ 55,864 $ 20,540 $ 5,880 452 $ — $ 174,020 Expense reimbursements (A) 35,982 11,052 13,250 16,006 1,867 129 — 78,286 Dividends and distributions — 270 — — — — — 270 Other — 2,383 — — — — 18,852 21,235 Total $ 77,688 $ 63,283 $ 69,114 $ 36,546 $ 7,747 $ 581 $ 18,852 $ 273,811 Private Equity Credit Liquid Permanent Hedge PE Hedge Logan December 31, 2014 Funds Capital Vehicles Funds Funds Funds Circle Other (B) Total Management fees and incentive income (A) $ 35,970 $ 65,043 $ 96,996 $ 18,393 $ 15,634 $ 1,089 $ — $ 233,125 Expense reimbursements (A) 37,447 7,237 10,533 12,880 14,014 164 — 82,275 Dividends and distributions — 295 — — — — — 295 Other — 1,346 — — — — 9,534 10,880 Total $ 73,417 $ 73,921 $ 107,529 $ 31,273 $ 29,648 $ 1,253 $ 9,534 $ 326,575 (A) Net of allowances for uncollectible management fees and expense reimbursements of $12.2 million and $6.8 million at December 31, 2015 , respectively, and of $12.2 million and $6.6 million as of December 31, 2014 , respectively. Allowances are recorded as General and Administrative expenses. (B) Other includes amounts primarily due from the principals and advances to senior employees (who are not officers).
Schedule of components of due to affiliates	Due to affiliates was comprised of the following: December 31, 2015 December 31, 2014 Principals - tax receivable agreement - Note 6 $ 264,625 $ 289,324 Principals - Principal Performance Payments - Note 8 42,234 30,659 Distributions payable on Fortress Operating Group units - Note 9 7,739 — Other 4,360 11,411 General partner liability - Note 10 46,260 44,030 Total $ 365,218 $ 375,424
Summary of outstanding advances	Outstanding advances (including principal and accrued interest) can be summarized as follows: December 31, 2015 2014 Amount outstanding $12.6 million $4.7 million Range of interest rates LIBOR +4% to LIBOR +5% LIBOR +4% to LIBOR + 4.25%
Redeemable noncontrolling interest	The following table represents the activity in Redeemable Non-controlling Interests: Year Ended December 31, 2015 December 31, 2014 Beginning balance $ 1,717 $ — Capital contributions (distributions) (1,711 ) 56,771 Consolidation of Redeemable Non-Controlling interest — 2,179 Redeemable Non-controlling Interests in income (loss) of consolidated (6 ) (709 ) Deconsolidation of Redeemable Non-Controlling interests in income (loss) — (56,524 ) $ — $ 1,717
Amounts related to equity interests, which are held by the Principals, employees, and others	This balance sheet caption was comprised of the following: December 31, 2015 2014 Fortress Operating Group units held by the Principals and a former senior employee $ 307,539 $ 556,720 Employee interests in majority owned and controlled fund advisor and general partner entities 61,833 80,333 Other 1,747 2,303 Total $ 371,119 $ 639,356
Portion of interest of Fortress Operating Group	The Fortress Operating Group portion of these interests is computed as follows: December 31, 2015 2014 Fortress Operating Group equity $ 764,429 $ 1,152,297 Less: Others' interests in equity of consolidated subsidiaries (63,580 ) (82,636 ) Total Fortress shareholders' equity in Fortress Operating Group $ 700,849 $ 1,069,661 Fortress Operating Group units outstanding (A) 169,514,478 226,331,513 Class A shares outstanding 216,790,409 208,535,157 Total 386,304,887 434,866,670 Fortress Operating Group units as a percent of total (B) 43.9 % 52.0 % Equity of Fortress Operating Group units held by the Principals and a former senior employee $ 307,539 $ 556,720 (A) Held by the Principals and a former senior employee; exclusive of Class A shares. (B) As a result, the Registrant owned 56.1% and 48.0% of Fortress Operating Group as of December 31, 2015 and 2014 , respectively. In November 2015, Fortress purchased from a principal 56.8 million Fortress Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million . All of the Fortress Operating Group units and corresponding Class B shares were canceled and ceased to be outstanding.
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: Year Ended December 31, 2015 2014 2013 Fortress Operating Group units held by the Principals and a former senior employee $ 102,507 $ 135,029 $ 276,683 Employee interests in majority owned and controlled fund advisor and general partner entities 843 4,657 6,456 Other (221 ) 270 5 Total $ 103,129 $ 139,956 $ 283,144
Schedule of interest computation of an entity	The Fortress Operating Group portion of these interests is computed as follows: Year Ended December 31, 2015 2014 2013 Fortress Operating Group net income (loss) $ 219,209 $ 263,030 $ 545,623 Adjust: Others' interests in net (income) loss of consolidated subsidiaries (622 ) (4,927 ) (6,461 ) Redeemable Non-controlling interests in (income) loss of consolidated 6 709 — Total Fortress shareholders' net income (loss) in Fortress Operating Group $ 218,593 $ 258,812 $ 539,162 Fortress Operating Group as a percent of total (A) 46.9 % 52.2 % 51.3 % Fortress Operating Group net income (loss) attributable to the Principals and a former senior employee $ 102,507 $ 135,029 $ 276,683 (A) Represents the weighted average percentage of total Fortress shareholders' net income (loss) in Fortress Operating Group attributable to the Principals and a former senior employee. In November 2015, Fortress purchased 56.8 million Operating Group units and corresponding Class B shares at $4.50 per share, or an aggregate purchase price of $255.7 million .
Statement showing effects of changes in the entity's ownership interest in Fortress Operating Group on the entity's equity	The following discloses the effects of changes in Fortress’s ownership interest in Fortress Operating Group on Fortress’s equity: Year Ended December 31, 2015 2014 2013 Net Income attributable to Class A shareholders $ 78,492 $ 100,966 $ 200,447 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 a former senior employee — — 10,143 Increase in Fortress’s shareholders’ equity for the purchase of Fortress Operating Group units from one Principal 63,850 — — Increase in Fortress’s shareholders’ equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs 9,595 5,835 14,005 Increase in Fortress's shareholders' equity for the public offering of Class A shares and repurchase of Class B shares and FOGUs — 53,510 — Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs — (101,156 ) — Change from net income attributable to Fortress and transfers (to) from Principals’ and Others' Interests $ 151,937 $ 59,155 $ 224,595

EQUITY-BASED AND OTHER COMPEN29

EQUITY-BASED AND OTHER COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
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 (described below), is comprised of the following: Year Ended December 31, 2015 2014 2013 Equity-based compensation, per below $ 38,407 $ 38,157 $ 39,266 Profit-sharing expense, per below 203,759 269,162 263,436 Discretionary bonuses 239,153 239,561 220,114 Other payroll, taxes and benefits 262,543 248,481 218,945 $ 743,862 $ 795,361 $ 741,761
Schedule of categories of equity-based compensation	Fortress currently has several categories of equity-based compensation which are accounted for as described in the table below. A total of 181,593,848 Class A shares have been authorized for issuance under Fortress’s equity-based compensation plan as of December 31, 2015 . RSUs are Class A restricted share units which entitle the holder to receive Class A shares on various future dates if the applicable service conditions, if any, are met. Service Entitled to December 31, 2015 Type of Conditions Dividends Shares/Units Granted To Award (A) (B) Accounting Outstanding Employees RSUs Yes Yes Fair value at grant date expensed over service period. 10,535,667 RSUs Yes No Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period. 10,391,502 Directors Restricted Shares Yes Yes Fair value at grant date expensed over service period. 729,348 Non- Employees (employees of affiliates and former employees) RSUs Yes No Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period. Subsequent changes in fair value, through the vesting date, expensed over remaining service period with a cumulative catch-up adjustment in the period of change. 322,278 (A) Employee awards not entitled to dividends generally vest over 3 years, 50% each in years two and three . Employee awards that are entitled to dividends generally vest over 6 years with 33 1/3% vesting on the fourth, fifth and sixth anniversaries. Vesting of awards may be accelerated if an employee is terminated without cause, or in the event of death or disability, or a change in control of Fortress. (B) Vested Class A shares are delivered to employee grant recipients within six months after vesting or, in certain circumstances, on an agreed schedule. Director restricted shares are delivered effective on the grant date. Certain awards entitle the recipient to receive dividend equivalent payments prior to such delivery dates or between vesting and delivery.
Schedule of range of assumptions related to RSUs	The discount related to RSUs, which do not entitle the recipients to dividend equivalents prior to the vesting of Class A shares, was based on the estimated present value of dividends to be paid during the vesting period, which in turn was based on an estimated initial dividend rate, an estimated dividend growth rate and a risk-free discount rate (based on grant date and term), the weighted average of which is as follows: 2015 2014 2013 Initial dividend rate 4.30 % 4.00 % 5.00 % Dividend growth rate 6.25 % 5.00 % 3.64 % Risk-free discount rate 0.55 % 0.28 % 0.18 %
Schedule of equity-based compensation activities	The following tables set forth information regarding equity-based compensation activities. RSUs Restricted Shares RPUs (F) Employees Non-Employees Issued to Directors Employees Number Value (A) Number Value (A) Number Value (A) Number Value (A) Outstanding at December 31, 2012 21,754,544 $ 9.44 1,246,406 $ 5.51 828,211 $ 5.29 10,333,334 $ 13.75 2013 Issued 8,950,696 $ 5.10 — — 127,533 $ 6.21 — — Transfers — — — — — — — — Converted to Class A shares (10,762,805 ) $ 12.52 (1,231,906 ) $ 5.53 — — (10,333,334 ) $ 13.75 Forfeited (713,969 ) $ 3.72 — — — — — — Outstanding at December 31, 2013 19,228,466 $ 4.14 14,500 $ 3.12 955,744 $ 5.41 — — 2014 Issued 8,415,043 $ 7.19 237,498 $ 7.18 89,390 $ 7.38 — — Transfers (152,313 ) $ 5.09 152,313 $ 5.64 — — — — Converted to Class A shares (5,591,854 ) $ 3.81 (7,437 ) $ 3.28 — — — — Forfeited (1,745,596 ) $ 3.87 — — — — — — Outstanding at December 31, 2014 20,153,746 $ 5.52 396,874 $ 6.51 1,045,134 $ 5.58 — — 2015 Issued 11,925,660 $ 6.89 111,540 $ 7.61 111,969 $ 7.55 — — Transfers — — — — — — — — Converted to Class A shares (7,966,543 ) $ 4.59 (186,136 ) $ 6.78 (427,755 ) $ 6.32 — — Forfeited (3,185,694 ) $ 5.51 — — — — — — Outstanding at December 31, 2015 (B) 20,927,169 $ 6.66 322,278 $ 6.74 729,348 $ 5.42 — —
Schedule of total equity-based compensation activities	Year Ended December 31, 2015 2014 2013 Expense incurred (B) Employee RSUs $ 30,571 $ 22,925 $ 22,869 Non-Employee RSUs 1,369 1,428 1 Principal Performance Payments (C) 6,406 13,307 16,396 Granted Class A Shares (D) — 497 — Restricted Shares (E) 61 — — Total equity-based compensation expense $ 38,407 $ 38,157 $ 39,266 (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 December 31, 2015 of $79.4 million , with a weighted average recognition period of 4.1 years. (C) A total of approximately 0.5 million , 0.5 million and 3.2 million RSUs were awarded as Principal Performance Payments based on 2015 , 2014 and 2013 results, respectively. (D) Represents expense associated with vested Class A shares granted during the year ended December 31, 2014. (E) Represents expense associated with restricted shares granted to a director during 2015. These restricted shares will vest over a period of 2 years. Certain restricted shares granted to directors are recorded in General and Administrative Expense ( $0.4 million , $0.5 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively) and therefore are not included above. (F) Represents FOG restricted partnership units ("RPUs") granted to a former senior employee. The RPUs vest into full capital interests in newly issued Fortress Operating Group units. One third of the RPUs vested in each of January 2011, January 2012 and January 2013. The RPUs final vesting occurred in January 2013.
Schedule of the expense accrual for the Principal Performance Payments by segment	The expense for Principal Performance Payments was comprised of the following: Year Ended December 31, 2015 Year Ended December 31, 2014 Equity-Based Profit Sharing Total Equity-Based Compensation Profit Sharing Expense Total Private equity business $ 385 $ 19,395 $ 19,780 $ — $ 5,588 $ 5,588 Credit business 6,076 21,965 28,041 9,577 22,202 31,779 Liquid hedge fund business (55 ) — (55 ) 3,730 1,591 5,321 Total $ 6,406 $ 41,360 $ 47,766 $ 13,307 $ 29,381 $ 42,688
Schedule of recognized profit sharing compensation expense	Recognized profit sharing compensation expense is summarized as follows: Year Ended December 31, 2015 2014 2013 Private equity funds $ 245 $ 303 $ 2,135 Permanent capital vehicles (A) 5,455 13,221 10,690 Credit hedge funds 35,802 59,819 95,229 Credit PE funds 119,668 137,091 68,883 Liquid hedge funds 1,229 29,347 51,886 Principal Performance Payments (B) 41,360 29,381 34,613 Total $ 203,759 $ 269,162 $ 263,436 (A) Includes rights in options held in the publicly traded permanent capital vehicles (tandem options) that are granted to certain Fortress employees. The fair value and changes thereto are recorded as profit sharing compensation expense. (B) Relates to all applicable segments.

EARNINGS PER SHARE AND DISTRI30

EARNINGS PER SHARE AND DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
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: Year Ended December 31, 2015 Basic Diluted Weighted average shares outstanding Class A shares outstanding 212,464,539 212,464,539 Fully vested restricted Class A share units with dividend equivalent rights 3,272,595 3,272,595 Restricted Class A shares 766,420 766,420 Fortress Operating Group units exchangeable into Class A shares (1) — 220,416,315 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 5,766,905 Total weighted average shares outstanding 216,503,554 442,686,774 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 78,492 $ 78,492 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (3,415 ) (3,415 ) 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 exchangeable into Class A shares (1) — 49,545 Net income available to Class A shareholders $ 75,077 $ 124,622 Weighted average shares outstanding 216,503,554 442,686,774 Basic and diluted net income per Class A share $ 0.35 $ 0.28 Year Ended December 31, 2014 Basic Diluted Weighted average shares outstanding Class A shares outstanding 207,907,352 207,907,352 Fully vested restricted Class A share units with dividend equivalent rights 1,379,649 1,379,649 Restricted Class A shares 1,016,240 1,016,240 Fortress Operating Group units exchangeable into Class A shares (1) — 231,162,793 Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2) — 4,670,736 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 9,017,366 Total weighted average shares outstanding 210,303,241 455,154,136 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 100,966 $ 100,966 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (1,296 ) (1,296 ) 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 exchangeable into Class A shares (1) — 97,751 Net income available to Class A shareholders $ 99,670 $ 197,421 Weighted average shares outstanding 210,303,241 455,154,136 Basic and diluted net income per Class A share $ 0.47 $ 0.43 Year Ended December 31, 2013 Basic Diluted Weighted average shares outstanding Class A shares outstanding 233,117,423 233,117,423 Fully vested restricted Class A share units with dividend equivalent rights 2,207,612 2,207,612 Restricted Class A shares 921,261 921,261 Fortress Operating Group units and fully vested RPUs exchangeable into Class A shares (1) — 251,969,075 Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments) (2) — 2,318,202 Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments) (3) — 10,097,850 Total weighted average shares outstanding 236,246,296 500,631,423 Basic and diluted net income per Class A share Net income attributable to Class A shareholders $ 200,447 $ 200,447 Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units (2) (3,365 ) (3,365 ) Add back Principals’ and others’ interests in loss of Fortress 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) — 196,272 Net income available to Class A shareholders $ 197,082 $ 393,354 Weighted average shares outstanding 236,246,296 500,631,423 Basic and diluted net income per Class A share $ 0.83 $ 0.79 (1) The Fortress Operating Group units and fully vested RPUs not held by Fortress (that is, those held by the Principals and a former 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 considered 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: Period Share Units Year Ended December 31, 2015 12,139,050 Year Ended December 31, 2014 13,310,978 Year Ended December 31, 2013 15,321,401
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: Period Share Units Year Ended December 31, 2015 12,139,050 Year Ended December 31, 2014 13,310,978 Year Ended December 31, 2013 15,321,401
Schedule of Fortress's dividend paying shares and units	Fortress’s dividend paying shares and units were as follows: Weighted Average Year Ended December 31, As of December 31, 2015 2014 2013 2015 2014 Class A shares 212,464,539 207,907,352 233,117,423 216,061,061 207,490,023 Restricted Class A shares (directors) 766,420 1,016,240 921,261 729,348 1,045,134 Restricted Class A share units (employees) (A) 3,272,595 1,379,649 2,207,612 1,360,960 194,287 Restricted Class A share units (employees) (B) 10,023,561 7,017,047 4,883,186 9,174,707 7,002,003 Fortress Operating Group units (Principals and a 220,416,315 231,162,793 249,534,372 169,514,478 226,331,513 Fortress Operating Group RPUs (a former senior — — 2,434,703 — — Total 446,943,430 448,483,081 493,098,557 396,840,554 442,062,960 (A) Represents 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 years ended December 31, 2015 are summarized as follows: Declared in Current Year Declared in Prior Year, Paid Current Year Declared and Paid Declared but not yet Paid Total 2015: Dividends on Class A shares $ — $ 131,019 $ — $ 131,019 Dividend equivalents on restricted Class A share units (A) — 9,754 133 9,887 Distributions to Fortress Operating Group unit holders — 174,275 7,739 182,014 Total distributions $ — $ 315,048 $ 7,872 $ 322,920 2014: Dividends on Class A shares $ — $ 101,864 $ — $ 101,864 Dividend equivalents on restricted Class A share units (A) — 3,996 — 3,996 Distributions to Fortress Operating Group unit holders 5,160 136,748 — 136,748 Total distributions $ 5,160 $ 242,608 $ — $ 242,608 2013: Dividends on Class A shares $ — $ 56,274 $ — $ 56,274 Dividend equivalents on restricted Class A share units (A) — 1,652 — 1,652 Distributions to Fortress Operating Group unit holders 30,725 72,295 5,160 77,455 Distributions to Fortress Operating Group RPU holders 1,272 401 — 401 Total distributions $ 31,997 $ 130,622 $ 5,160 $ 135,782 (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 a former senior employee) and the RPU holder (a former senior employee).

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Summary of major lease terms	The following is a summary of major lease terms: New York Leases Other Leases Lease end date Various dates through October 2032 Various dates through March 2026 Escalations Generally, a fixed percentage of the landlord’s annual operating expenses and tax expense. Generally, a fixed percentage of the landlord’s annual operating expenses and tax expense. Free rent periods 5 - 12 months 1 - 16.5 months Leasehold improvement incentives $12,499 $2,903 Renewal periods Up to 5 years - some have none Up to 5 years - some have none
Schedule of minimum future rental payments (excluding expense escalations) under operating leases	Minimum future rental payments (excluding expense escalations) under these leases as of December 31, 2015 are as follows: Year Ending December 31, 2016 $ 26,549 2017 17,121 2018 24,200 2019 22,749 2020 21,614 Thereafter 265,755 Total $ 377,988

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Clawback Reserve on Incentive Income for DE Purposes	Fortress had recognized incentive income for DE purposes from certain private equity funds and credit PE funds, which are subject to contingent clawback, as of December 31, 2015 : 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 Fund III $ 45,108 32 Quarters $ 45,108 $ — $ — $ 45,108 (C) Total $ 45,108 $ 45,108 $ — $ — $ 45,108 (A) Fortress has recognized incentive income for DE purposes from the following funds, which do not have intrinsic clawback and for which the Fortress CODM has determined no clawback reserve is necessary: Credit Opportunities Fund, Credit Opportunities Fund II, certain FCO Managed Accounts, Real Estate Opportunities Fund, Real Estate Opportunities REOC Fund, Global Opportunities Fund and Japan Opportunity Fund. (B) See Note 3. (C) The potential clawback on this fund has been fully reserved in prior periods. Subsequent to December 31, 2015, Fortress paid all prior net incentive income distributions received from the fund. Following such payment, no remaining clawback exists for Fund III (Note 3).
Summary of financial data on Fortress's segments	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. Private Equity Credit Funds Permanent Capital Vehicles Hedge PE Liquid Logan Unallocated Total December 31, 2015 and the Year then Ended Segment revenues Management fees $ 115,627 $ 96,263 $ 134,054 $ 117,740 $ 64,208 $ 53,995 $ — $ 581,887 Incentive income 691 105,603 84,588 244,308 912 211 — 436,313 Segment revenues - total $ 116,318 $ 201,866 $ 218,642 $ 362,048 $ 65,120 $ 54,206 $ — $ 1,018,200 Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B) $ 71,850 $ 122,103 $ 98,252 $ 125,635 $ (19,406 ) $ (1,163 ) $ — $ 397,271 Fund management distributable $ 71,850 $ 122,103 $ 98,252 $ 125,635 $ (10,814 ) $ (1,163 ) $ — $ 405,863 Fund management distributable earnings (loss) $ 71,850 $ 102,708 $ 82,873 $ 118,625 $ (10,814 ) $ (1,163 ) $ — $ 364,079 Pre-tax distributable earnings (loss) $ 72,146 $ 104,529 $ 84,934 $ 139,327 $ (3,410 ) $ (2,120 ) $ (4,581 ) $ 390,825 Total segment assets $ 709,677 $ 121,986 $ 118,993 $ 277,038 $ 169,119 $ 51,928 $ 852,136 (A) $ 2,300,877 December 31, 2014 and the Year then Ended Segment revenues Management fees $ 136,110 $ 69,360 $ 113,825 $ 96,715 $ 137,908 $ 46,996 $ — $ 600,914 Incentive income 2,854 65,448 121,768 254,461 16,067 106 — 460,704 Segment revenues - total $ 138,964 $ 134,808 $ 235,593 $ 351,176 $ 153,975 $ 47,102 $ — $ 1,061,618 Fund management distributable $ 88,081 $ 44,577 $ 106,346 $ 111,442 $ 25,443 $ (6,582 ) $ — $ 369,307 Fund management distributable $ 88,081 $ 38,990 $ 87,244 $ 108,765 $ 23,851 $ (6,582 ) $ — $ 340,349 Pre-tax distributable earnings (loss) $ 183,078 $ 40,976 $ 85,988 $ 121,669 $ 22,371 $ (5,267 ) $ (2,757 ) $ 446,058 Total segment assets $ 763,115 $ 173,627 $ 143,428 $ 277,907 $ 235,409 $ 63,413 $ 869,859 (A) $ 2,526,758 December 31, 2013 and the Year then Ended Segment revenues Management fees $ 134,176 $ 61,200 $ 101,890 $ 95,925 $ 110,622 $ 35,833 $ — $ 539,646 Incentive income 13,211 18,101 190,846 120,137 150,700 — — 492,995 Segment revenues - total $ 147,387 $ 79,301 $ 292,736 $ 216,062 $ 261,322 $ 35,833 $ — $ 1,032,641 Fund management distributable $ 95,547 $ 32,235 $ 139,339 $ 57,299 $ 125,482 $ (11,819 ) $ — $ 438,083 Fund management distributable $ 95,547 $ 29,834 $ 120,863 $ 56,112 $ 112,934 $ (11,819 ) $ — $ 403,471 Pre-tax distributable earnings (loss) $ 109,089 $ 31,319 $ 127,450 $ 63,766 $ 116,488 $ (8,542 ) $ (5,184 ) $ 434,386 (A) As of December 31, 2015, unallocated assets included cash of $334.4 million and net deferred tax assets of $427.1 million . As of December 31, 2014, unallocated assets included cash of $382.2 million and net deferred tax assets of $417.6 million . (B) See Note 8. Fund management distributable earnings (loss) is only reduced for the profit sharing component of the Principal Performance Payments.
Schedule of reconciliation between segment measures and GAAP measures	Reconciling items between segment measures and GAAP measures: Year Ended December 31, 2015 2014 2013 Fund management distributable earnings $ 364,079 $ 340,349 $ 403,471 Investment income 31,026 108,914 36,082 Interest expense (4,280 ) (3,205 ) (5,167 ) Pre-tax distributable earnings 390,825 446,058 434,386 Adjust incentive income Incentive income received from private equity funds, the private permanent capital vehicle through IPO in May 2015 vehicle and credit PE funds, subject to contingent repayment (245,447 ) (255,533 ) (126,479 ) Incentive income received from third parties, subject to contingent repayment (4,299 ) (652 ) (264 ) Incentive income from private equity funds, the private permanent capital vehicle through IPO in May 2015 and credit PE funds, not subject to contingent repayment 219,032 171,387 107,276 Incentive income from third parties, not subject to contingent repayment 3,524 — — Incentive income received related to the exercise of options (57,999 ) (8,735 ) (1,921 ) Reserve for clawback, gross (see discussion above) — (1,999 ) (7,397 ) (85,189 ) (95,532 ) (28,785 ) Adjust other income Distributions of earnings from equity method investees* (34,852 ) (71,810 ) (15,316 ) Earnings (losses) from equity method investees* (46,255 ) 68,452 124,401 Gains (losses) on options in equity method investees (5,888 ) (29,913 ) 25,295 Gains (losses) on other investments (6,900 ) (14,069 ) 14,774 Impairment of investments (see discussion above) 6,301 2,701 1,117 Adjust income from the receipt of options 25,158 6,310 42,516 Gain on transfer of Graticule (see Note 1) 134,400 — — 71,964 (38,329 ) 192,787 Adjust employee, Principal and director compensation Adjust employee, Principal and director equity-based compensation expense (including publicly traded permanent capital vehicle options assigned) (34,260 ) (30,610 ) (45,947 ) Adjust employee portion of incentive income from private equity funds, private permanent capital vehicle through IPO in May 2015 and credit PE funds, accrued prior to the realization of incentive income 1,711 (5,550 ) (790 ) (32,549 ) (36,160 ) (46,737 ) Adjust for the transfer of interest in Graticule (see Note 1) (101,000 ) — — Adjust amortization of intangible assets and impairment of goodwill and intangible assets (1,261 ) (81 ) (46 ) Adjust non-controlling interests related to Fortress Operating Group units (102,507 ) (135,029 ) (276,683 ) Adjust tax receivable agreement liability (6,141 ) (33,116 ) (8,787 ) Adjust income taxes (55,650 ) (6,845 ) (65,688 ) Total adjustments (312,333 ) (345,092 ) (233,939 ) Net Income Attributable to Class A Shareholders 78,492 100,966 200,447 Principals’ and Others’ Interests in Income of Consolidated Subsidiaries 103,129 139,956 283,144 Redeemable non-controlling interests in Income (Loss) of Consolidated Subsidiaries (6 ) (709 ) — Net Income (GAAP) $ 181,615 $ 240,213 $ 483,591 * This adjustment relates to all of the private equity, private permanent capital vehicle through IPO in May 2015, credit PE Fortress Funds and hedge fund special investment accounts in which Fortress has an investment.
Reconciliation of Assets from Segment to Consolidated	Reconciling items between segment measures and GAAP measures: December 31, 2015 2014 Total segment assets $ 2,300,877 $ 2,526,758 Adjust equity investments from segment carrying amount (11,323 ) (37,169 ) Adjust investments gross of employees' and others' portion 9,825 35,632 Adjust intangible assets to cost (24,098 ) (22,837 ) Total assets (GAAP) $ 2,275,281 $ 2,502,384
Schedule of reconciliation of revenues	December 31, 2015 2014 2013 Total segment revenues $ 1,018,200 $ 1,061,618 $ 1,032,641 Adjust management fees (456 ) 1,324 917 Adjust incentive income* (90,448 ) (96,392 ) (28,785 ) Adjust income from the receipt of options 25,158 6,310 42,516 Adjust other revenues (including expense reimbursements)** 261,402 232,720 217,694 Total revenues (GAAP) $ 1,213,856 $ 1,205,580 $ 1,264,983 * Incentive income received from third parties, not subject to contingent repayment of $5.2 million , $0.9 million and $0.0 million during the years ended December 31, 2015, 2014 and 2013 are included in segment measures as part of incentive income, while included in GAAP as part of other revenues. ** Segment revenues do not include GAAP other revenues, except to the extent they represent management fees or incentive income paid during the current period; 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 Credit Year Ended December 31, Funds Permanent Capital Vehicles Hedge PE Liquid Logan Corporate Total 2015 Depreciation $ 1,619 $ 1,570 $ 5,383 $ 1,531 $ 24,705 $ 503 $ 2,671 $ 37,982 Amortization — — 930 — — 331 — 1,261 Total $ 1,619 $ 1,570 $ 6,313 $ 1,531 $ 24,705 $ 834 $ 2,671 $ 39,243 2014 Depreciation $ 1,585 $ 851 $ 5,462 $ 1,125 $ 7,436 $ 334 $ 2,955 $ 19,748 Amortization — — — — — 81 — 81 Total $ 1,585 $ 851 $ 5,462 $ 1,125 $ 7,436 $ 415 $ 2,955 $ 19,829 2013 Depreciation $ 1,525 $ 606 $ 5,557 $ 422 $ 2,223 $ 271 $ 3,040 $ 13,644 Amortization — — — — — 46 — 46 Total $ 1,525 $ 606 $ 5,557 $ 422 $ 2,223 $ 317 $ 3,040 $ 13,690 (A) Liquid hedge funds include an $18.2 million write-off for the impairment of software and technology related assets for the year ended December 31, 2015.

QUARTERLY FINANCIAL INFORMATI33

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Summary of financial quarterly operations	The following is unaudited summary information on Fortress’s quarterly operations. Quarter Ended Year Ended March 31 June 30 September 30 December 31 December 31 2015 Total revenues (A) $ 226,689 $ 308,488 $ 264,019 $ 414,660 $ 1,213,856 Total expenses 329,039 258,100 223,934 241,805 1,052,878 Total other income (loss) 207,669 (50,608 ) (62,473 ) (18,163 ) 76,425 Income (Loss) Before Income Taxes 105,319 (220 ) (22,388 ) 154,692 237,403 Income tax benefit (expense) (18,399 ) 5,199 (3,584 ) (39,004 ) (55,788 ) Net Income (Loss) $ 86,920 $ 4,979 $ (25,972 ) $ 115,688 $ 181,615 Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries $ 52,223 $ 1,653 $ (11,727 ) $ 60,980 $ 103,129 Redeemable Non-controlling Interests in Income (Loss) of (16 ) 10 — — (6 ) Net Income (Loss) Attributable to Class A Shareholders 34,713 3,316 (14,245 ) 54,708 78,492 $ 86,920 $ 4,979 $ (25,972 ) $ 115,688 $ 181,615 Net income (loss) per Class A share, basic $ 0.15 $ 0.01 $ (0.07 ) $ 0.24 $ 0.35 Net income (loss) per Class A share, diluted (B) $ 0.15 $ 0.00 $ (0.07 ) $ 0.20 $ 0.28 Weighted average number of Class A shares outstanding, basic 215,785,776 216,183,181 216,439,077 217,587,096 216,503,554 Weighted average number of Class A shares outstanding, diluted 221,535,189 449,210,362 216,439,077 425,302,366 442,686,774 Quarter Ended Year Ended March 31 June 30 September 30 December 31 December 31 2014 Total revenues (A) $ 237,110 $ 270,344 $ 243,180 $ 454,946 $ 1,205,580 Total expenses 231,334 216,284 234,475 309,653 991,746 Total other income (loss) 9,319 27,312 10,975 (14,280 ) 33,326 Income (Loss) Before Income Taxes 15,095 81,372 19,680 131,013 247,160 Income tax benefit (expense) (5,994 ) (7,916 ) (3,024 ) 9,987 (6,947 ) Net Income $ 9,101 $ 73,456 $ 16,656 $ 141,000 $ 240,213 Principals’ and Others’ Interests in Income of Consolidated Subsidiaries $ 6,077 $ 42,100 $ 12,623 $ 79,156 $ 139,956 Redeemable Non-controlling Interests in Income (Loss) of — 157 (2,042 ) 1,176 (709 ) Net Income Attributable to Class A Shareholders 3,024 31,199 6,075 60,668 100,966 $ 9,101 $ 73,456 $ 16,656 $ 141,000 $ 240,213 Net income per Class A share, basic $ 0.01 $ 0.15 $ 0.03 $ 0.28 $ 0.47 Net income per Class A share, diluted (B) $ 0.01 $ 0.12 $ 0.02 $ 0.23 $ 0.43 Weighted average number of Class A shares outstanding, basic 216,934,917 207,783,751 208,014,692 208,607,680 210,303,241 Weighted average number of Class A shares outstanding, diluted 229,033,778 444,566,847 220,792,711 449,618,855 455,154,136 (A) Includes incentive income from hedge funds, which is recognized at the end of the fourth quarter as annual performance criteria are achieved, as well as non-clawbackable incentive income, including “tax distributions”, from credit PE funds, as described in Note 3. (B) Fortress's diluted income (loss) per share for all periods presented includes the income tax effects to net income (loss) attributable to Class A shareholders from the assumed conversion of Fortress Operating Group Units (see Note 8).

ORGANIZATION AND BASIS OF PRE34

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended				3 Months Ended								12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Jan. 31, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries (as a percent)					56.10%				48.00%				56.10%	48.00%
Investments					$ 1,055,789				$ 1,121,545				$ 1,055,789	$ 1,121,545	$ 1,253,266
Purchase of Fortress Operating Group Units
Payments to acquire Fortress Operating Group units			$ 100,000
Adjustments for New Accounting Pronouncements
Assets					2,275,281				2,502,384				2,275,281	2,502,384
Liabilities					1,333,477				1,217,712				1,333,477	1,217,712
Fortress Operating Group equity					941,804				1,282,955				941,804	1,282,955	1,614,905	$ 1,216,650
Revenues					414,660	$ 264,019	$ 308,488	$ 226,689	454,946	$ 243,180	$ 270,344	$ 237,110	1,213,856	1,205,580	1,264,983
Total expenses					241,805	223,934	258,100	329,039	309,653	234,475	216,284	231,334	1,052,878	991,746	897,603
Net income					115,688	$ (25,972)	$ 4,979	$ 86,920	141,000	$ 16,656	$ 73,456	$ 9,101	181,615	240,213	483,591
Accounting Standards Update 2015-02 [Member]
Adjustments for New Accounting Pronouncements
Assets									(3,432,500)					(3,432,500)
Liabilities									(1,649,300)					(1,649,300)
Fortress Operating Group equity									(1,783,200)					(1,783,200)
Revenues														(606,200)
Total expenses														(622,100)
Net income														6,900
Technology-Based Intangible Assets [Member] | Depreciation And Amortization [Member]
Business Combination Items
Asset impairment													18,200
Liquid Hedge Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investments					170,169				$ 167,630				170,169	$ 167,630	$ 158,920
Liquid Hedge Funds [Member] | Computer Software and Technology Equipment [Member]
Business Combination Items
Purchase price				$ 26,000
Promissory Note To Principal For Fortress Operating Group Units [Member]
Purchase of Fortress Operating Group Units
Promissory note principal amount			$ 155,700
Class B Shares [Member]
Purchase of Fortress Operating Group Units
Number of Fortress Operating Group units repurchased			56.8
Share price (in dollars per share)			$ 4.50
Value of Fortress Operating Group units repurchased			$ 255,700
Graticule Asset Management [Member]
Schedule of Equity Method Investments [Line Items]
Net realized gains (losses) from affiliate investments													134,400
Non-cash expense													101,000
Investments					$ 33,400								$ 33,400
Graticule Asset Management [Member] | During 2015 and 2016 [Member]
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries (as a percent)					30.00%								30.00%
Graticule Asset Management [Member] | After 2016 [Member]
Schedule of Equity Method Investments [Line Items]
Investment in subsidiaries (as a percent)					27.00%								27.00%
Scenario, Forecast [Member] | Promissory Note To Principal For Fortress Operating Group Units [Member]
Purchase of Fortress Operating Group Units
Percentage of promissory note maturing	50.00%	50.00%

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)type	Dec. 31, 2014USD ($)
Accounting Policies [Abstract]
Number of significant types of economic risks | type	2
Other Assets and Other Liabilities
Allowances for uncollectable amounts	$ 1.2	$ 2.3
Fixed Assets, Depreciation and Amortization
Impairment charge on Digital Currency/Bitcoin	$ 2.8	$ 11.5
Income Tax Other Disclosure [Abstract]
Unincorporated business statutory tax rate applicable to certain subsidiaries of Fortress (as a percent)	4.00%
Minimum [Member]
Fixed Assets, Depreciation and Amortization
Estimated useful lives of fixed assets	3 years
Maximum [Member]
Fixed Assets, Depreciation and Amortization
Estimated useful lives of fixed assets	7 years

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Other Assets and Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Assets
Fixed assets	$ 184,873	$ 154,525
Accumulated depreciation	(134,910)	(99,412)
Receivables	25,576	24,997
Equity securities	0	17,627
Digital currency (Bitcoin)	5,653	6,828
Prepaid compensation, net	14,141	13,091
Prepaid expense	17,630	17,418
Goodwill and intangibles	14,987	10,417
Accumulated amortization	(9,606)	(8,345)
Derivatives	22,146	27,105
Miscellaneous assets, net	7,820	9,457
Other assets	148,310	173,708
Other Liabilities
Current taxes payable (Note 6)	4,337	4,204
Accrued expenses and accounts payable	25,310	25,634
Deferred rent	15,960	7,459
Unearned income	11,243	10,694
Derivatives	2,201	932
Accrued fee liability (Note 9)	20,324	30,000
Miscellaneous liabilities	7,128	9,130
Total other liabilities	$ 86,503	$ 88,053

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Direct
Net foreign currency translation adjustments	$ (2,909)	$ (2,416)
Accumulated other comprehensive income (loss)	$ (2,909)	$ (2,416)

MANAGEMENT AGREEMENTS AND FOR38

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)source	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Management and Agreement Fortress Funds [Abstract]
Number of principal sources of income from agreements with the Fortress Funds | source	2
Incentive income recognized on achieving annual performance criteria	$ 56.3	$ 108.7	$ 271.2
Incentive income distributions from credit PE funds which were non-clawbackable or represented tax distributions	211.3	147.9	78.3
Management fees waived on employees' investments	5.2	6	4.7
Incentive income waived on employees' investments	$ 3	$ 4	$ 6

MANAGEMENT AGREEMENTS AND FOR39

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Management Fees and Incentive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Management fees: affil.	$ 547,109	$ 539,600	$ 520,283
Management fees, options: affil.	25,158	6,310	42,516
Management fees: non-affil.	59,480	68,948	62,795
Incentive income: affil.	345,052	362,578	419,828
Incentive income: non-affil.	813	1,734	44,383
Private Equity Funds [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	115,613	135,803	133,725
Management fees: non-affil.	0	364	493
Incentive income: affil.	691	22,094	27,790
Permanent Capital Vehicle [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	95,410	67,638	58,206
Management fees, options: affil.	25,158	6,310	42,516
Management fees: non-affil.	1,853	2,910	3,807
Incentive income: affil.	54,199	56,497	15,653
Credit Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	132,541	113,712	101,699
Management fees: non-affil.	71	146	191
Incentive income: affil.	78,555	120,255	190,581
Credit PE Funds [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	117,624	96,586	95,787
Management fees: non-affil.	116	129	138
Incentive income: affil.	210,600	147,897	78,341
Incentive income: non-affil.	697	1,396	1,145
Liquid Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	57,695	116,526	85,807
Management fees: non-affil.	6,513	21,365	24,815
Incentive income: affil.	873	15,835	107,463
Incentive income: non-affil.	39	232	43,238
Logan Circle [Member]
Schedule of Management Agreements [Line Items]
Management fees: affil.	3,068	3,025	2,543
Management fees: non-affil.	50,927	44,034	33,351
Incentive income: affil.	134	0	0
Incentive income: non-affil.	$ 77	$ 106	$ 0

MANAGEMENT AGREEMENTS AND FOR40

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Deferred Incentive Income) (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Feb. 25, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Distributed-Gross
Deferred incentive income as of the beginning of the period	$ 1,490,276	$ 1,243,441	$ 1,015,084
Distribution of private equity funds and credit PE funds incentive income		240,215	226,780
Distribution of private permanent capital vehicle incentive income		6,299	217
Changes in foreign exchange rates		321	1,360
Deferred incentive income as of the end of the period		1,490,276	1,243,441	$ 1,015,084
Deferred incentive income including Fortress Funds which matured		1,543,932
Distributed-Recognized
Deferred incentive income as of the beginning of the period	(1,157,947)	(938,915)	(767,528)
Recognition of previously deferred incentive income		(219,032)	(171,387)	(107,276)
Deferred incentive income as of the end of the period		(1,157,947)	(938,915)	(767,528)
Deferred incentive income including Fortress Funds which matured		(1,211,603)
Distributed-Unrecognized
Deferred incentive income as of the beginning of the period	332,329	304,526	247,556
Distribution of private equity funds and credit PE funds incentive income		240,215	226,780
Distribution of private permanent capital vehicle incentive income		6,299	217
Recognition of previously deferred incentive income		(219,032)	(171,387)	(107,276)
Changes in foreign exchange rates		321	1,360
Deferred incentive income as of the end of the period		332,329	304,526	247,556
Undistributed, net of intrinsic clawback
Deferred incentive income as of the beginning of the period	898,358	868,549	696,333
Share of income (loss) of Fortress Funds		276,323	399,213
Distribution of private equity funds and credit PE funds incentive income		240,215	226,780
Distribution of private permanent capital vehicle incentive income		6,299	217
Deferred incentive income as of the end of the period		898,358	$ 868,549	$ 696,333
Gross undistributed incentive income		965,300
Intrinsic clawback		66,903
Schedule of Management Agreements [Line Items]
Clawback obligations recovered from individuals		6,400
Compensation expense paid under employee profit sharing arrangements in connection with distributed incentive income		698,800
Portion of compensation expense paid under employee profit sharing arrangements in connection with distributed incentive income which has not been expensed		21,500
Additional expense which would be recognized and paid if gross undistributed incentive income were realized		$ 481,700
Subsequent Event [Member]
Schedule of Management Agreements [Line Items]
Incentive income distribution	66,900
Net incentive income, net of employee amounts	45,100
Clawback obligations recovered from individuals	$ 15,100

MANAGEMENT AGREEMENTS AND FOR41

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Distributed Incentive Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Distributed incentive income	$ 1,490,276	$ 1,243,441	$ 1,015,084
Private Equity Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	847,362
Private Equity Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	0
Private Equity Funds [Member] | NIH (1998) [Member]
Schedule of Management Agreements [Line Items]
Fortress Funds which are not subject to a clawback provision:	(94,513)
Private Equity Funds [Member] | NIH (1998) [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	94,513
Private Equity Funds [Member] | GAGACQ Fund (2004) [Member]
Schedule of Management Agreements [Line Items]
Fortress Funds which are not subject to a clawback provision:	(51,476)
Private Equity Funds [Member] | GAGACQ Fund (2004) [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	51,476
Private Equity Funds [Member] | Fund I (1999) [Member]
Schedule of Management Agreements [Line Items]
Portion of Fund I distributed incentive income that Fortress is not entitled to (see footnote K of incentive income threshold tables)	(183,196)
Private Equity Funds [Member] | Fund I (1999) [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	344,939
Credit PE Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	955,289
Credit PE Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	9,767
Permanent Capital Vehicle [Member]
Schedule of Management Agreements [Line Items]
Distributed incentive income	$ 7,043

MANAGEMENT AGREEMENTS AND FOR42

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Undistributed Incentive Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	$ (66,903)
Undistributed, net of intrinsic clawback	898,358	$ 868,549	$ 696,333
Private Equity Funds [Member]
Schedule of Management Agreements [Line Items]
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	(66,903)
Private Equity Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	29,395
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	(66,903)
Private Equity Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	1,972
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0
Credit PE Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	830,361
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0
Credit PE Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	36,018
Less: Gross intrinsic clawback per incentive income threshold tables - Private Equity Funds	0
Permanent Capital Vehicle [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	0
Hedge Funds Business [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	67,515
Logan Circle [Member]
Schedule of Management Agreements [Line Items]
Undistributed incentive income, gross	$ 0

MANAGEMENT AGREEMENTS AND FOR43

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (HWM) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income	$ 965,300
Distributed Incentive Income	1,490,276	$ 1,243,441	$ 1,015,084
Distributed Incentive Income Subject to Clawback	332,329	$ 304,526	$ 247,556
Gross Intrinsic Clawback	66,903
Net Intrinsic Clawback	45,108
Private Equity Funds [Member]
Schedule of Management Agreements [Line Items]
Gross Intrinsic Clawback	66,903
Private Equity Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income	29,395
Distributed Incentive Income	847,362
Distributed Incentive Income Subject to Clawback	66,903
Gross Intrinsic Clawback	66,903
Net Intrinsic Clawback	45,108
Private Equity Funds [Member] | Outside of Investment Period [Member] | NIH (1998) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	415,574
Inception to Date Distributions	(823,588)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	94,513
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund I (1999) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	1,015,943
Inception to Date Distributions	(2,847,929)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	344,939
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund II (2002) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	1,974,298
Inception to Date Distributions	(3,446,405)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	289,531
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund III (2004) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	2,762,992
Inception to Date Distributions	(2,152,525)
Net Asset Value (“NAV”)	748,600
NAV Surplus (Deficit)	138,133
Current Preferred Return Threshold	2,295,674
Gain to Cross Incentive Income Threshold	2,157,541
Undistributed Incentive Income	0
Distributed Incentive Income	66,903
Distributed Incentive Income Subject to Clawback	66,903
Gross Intrinsic Clawback	66,903
Net Intrinsic Clawback	45,108
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund III Coinvestment (2004) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	273,649
Inception to Date Distributions	(231,688)
Net Asset Value (“NAV”)	55,533
NAV Surplus (Deficit)	13,572
Current Preferred Return Threshold	267,680
Gain to Cross Incentive Income Threshold	254,108
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund IV (2006) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	3,639,561
Inception to Date Distributions	(1,379,503)
Net Asset Value (“NAV”)	1,872,736
NAV Surplus (Deficit)	(387,322)
Current Preferred Return Threshold	3,131,331
Gain to Cross Incentive Income Threshold	3,518,653
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund IV Coinvestment (2006) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	762,696
Inception to Date Distributions	(278,972)
Net Asset Value (“NAV”)	342,783
NAV Surplus (Deficit)	(140,941)
Current Preferred Return Threshold	669,109
Gain to Cross Incentive Income Threshold	810,050
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund V (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	4,103,713
Inception to Date Distributions	(1,615,467)
Net Asset Value (“NAV”)	5,097,957
NAV Surplus (Deficit)	2,609,711
Current Preferred Return Threshold	2,680,330
Gain to Cross Incentive Income Threshold	299,493
Undistributed Incentive Income	11,463
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | Fund V Coinvestment (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	990,480
Inception to Date Distributions	(174,098)
Net Asset Value (“NAV”)	483,389
NAV Surplus (Deficit)	(332,993)
Current Preferred Return Threshold	768,725
Gain to Cross Incentive Income Threshold	1,101,718
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | GAGACQ Fund (2004) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	545,663
Inception to Date Distributions	(595,401)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	51,476
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | FRID (2005) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	1,220,229
Inception to Date Distributions	(1,202,153)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | FRIC (2006) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	328,754
Inception to Date Distributions	(291,330)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | FICO (2006) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	724,525
Inception to Date Distributions	0
Net Asset Value (“NAV”)	(65,229)
NAV Surplus (Deficit)	(789,754)
Current Preferred Return Threshold	711,570
Gain to Cross Incentive Income Threshold	1,501,324
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | FHIF (2006) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	1,543,463
Inception to Date Distributions	(788,152)
Net Asset Value (“NAV”)	1,195,360
NAV Surplus (Deficit)	440,049
Current Preferred Return Threshold	1,328,550
Gain to Cross Incentive Income Threshold	888,501
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | FECI (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	982,779
Inception to Date Distributions	(924)
Net Asset Value (“NAV”)	911,347
NAV Surplus (Deficit)	(70,508)
Current Preferred Return Threshold	890,395
Gain to Cross Incentive Income Threshold	960,903
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | MSR Opportunities Fund I A (2012) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	341,135
Inception to Date Distributions	(172,438)
Net Asset Value (“NAV”)	292,961
NAV Surplus (Deficit)	124,264
Current Preferred Return Threshold	0
Undistributed Incentive Income	11,965
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | MSR Opportunities Fund I B (2012) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	82,760
Inception to Date Distributions	(41,707)
Net Asset Value (“NAV”)	70,893
NAV Surplus (Deficit)	29,840
Current Preferred Return Threshold	0
Undistributed Incentive Income	2,983
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | MSR Opportunities Fund II A (2013) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	160,653
Inception to Date Distributions	(33,577)
Net Asset Value (“NAV”)	143,717
NAV Surplus (Deficit)	16,641
Current Preferred Return Threshold	0
Undistributed Incentive Income	2,390
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | MSR Opportunities Fund II B (2013) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	2,291
Inception to Date Distributions	(462)
Net Asset Value (“NAV”)	2,047
NAV Surplus (Deficit)	218
Current Preferred Return Threshold	0
Undistributed Incentive Income	23
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | Outside of Investment Period [Member] | MSR Opportunities Fund II MA I (2013) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	36,868
Inception to Date Distributions	(7,739)
Net Asset Value (“NAV”)	32,998
NAV Surplus (Deficit)	3,869
Current Preferred Return Threshold	0
Undistributed Incentive Income	571
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income	1,972
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Private Equity Funds [Member] | In Investment Period [Member] | Italian NPL Opportunities (2013) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	310,705
Inception to Date Distributions	(10,421)
Net Asset Value (“NAV”)	313,671
NAV Surplus (Deficit)	13,387
Current Preferred Return Threshold	0
Undistributed Incentive Income	1,972
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income	830,361
Distributed Incentive Income	955,289
Distributed Incentive Income Subject to Clawback	262,821
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Long Dated Value Fund I (2005) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	267,325
Inception to Date Distributions	(128,335)
Net Asset Value (“NAV”)	282,640
NAV Surplus (Deficit)	143,650
Current Preferred Return Threshold	164,090
Gain to Cross Incentive Income Threshold	20,617
Undistributed Incentive Income	5
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Long Dated Value Fund II (2005) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	274,280
Inception to Date Distributions	(150,977)
Net Asset Value (“NAV”)	195,049
NAV Surplus (Deficit)	71,746
Current Preferred Return Threshold	130,848
Gain to Cross Incentive Income Threshold	59,102
Undistributed Incentive Income	0
Distributed Incentive Income	412
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Long Dated Value Fund III (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	343,156
Inception to Date Distributions	(284,616)
Net Asset Value (“NAV”)	176,545
NAV Surplus (Deficit)	118,005
Current Preferred Return Threshold	0
Undistributed Incentive Income	12,004
Distributed Incentive Income	7,571
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | LDVF Patent Fund (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	40,731
Inception to Date Distributions	(34,027)
Net Asset Value (“NAV”)	28,043
NAV Surplus (Deficit)	21,339
Current Preferred Return Threshold	0
Undistributed Incentive Income	730
Distributed Incentive Income	1,471
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Real Assets Fund (2007) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	359,024
Inception to Date Distributions	(403,818)
Net Asset Value (“NAV”)	52,026
NAV Surplus (Deficit)	96,820
Current Preferred Return Threshold	0
Undistributed Incentive Income	7,776
Distributed Incentive Income	7,231
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Credit Opportunities Fund (2008) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	5,672,867
Inception to Date Distributions	(7,376,555)
Net Asset Value (“NAV”)	1,058,430
NAV Surplus (Deficit)	2,762,118
Current Preferred Return Threshold	0
Undistributed Incentive Income	127,604
Distributed Incentive Income	414,602
Distributed Incentive Income Subject to Clawback	134,423
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Credit Opportunities Fund II (2009) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	2,360,538
Inception to Date Distributions	(2,703,347)
Net Asset Value (“NAV”)	936,041
NAV Surplus (Deficit)	1,278,850
Current Preferred Return Threshold	0
Undistributed Incentive Income	116,987
Distributed Incentive Income	133,797
Distributed Incentive Income Subject to Clawback	48,305
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Credit Opportunities Fund III (2011) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	3,371,703
Inception to Date Distributions	(1,899,242)
Net Asset Value (“NAV”)	2,234,215
NAV Surplus (Deficit)	761,754
Current Preferred Return Threshold	0
Undistributed Incentive Income	109,283
Distributed Incentive Income	39,908
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | FCO Managed Accounts (2008-2012) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	4,552,034
Inception to Date Distributions	(3,770,818)
Net Asset Value (“NAV”)	2,418,731
NAV Surplus (Deficit)	1,637,515
Current Preferred Return Threshold	0
Undistributed Incentive Income	184,378
Distributed Incentive Income	127,107
Distributed Incentive Income Subject to Clawback	38,773
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | SIP Managed Account (2010) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	11,000
Inception to Date Distributions	(39,230)
Net Asset Value (“NAV”)	17,688
NAV Surplus (Deficit)	45,918
Current Preferred Return Threshold	0
Undistributed Incentive Income	4,422
Distributed Incentive Income	5,646
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Japan Opportunity Fund (2009) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	909,373
Inception to Date Distributions	(1,593,377)
Net Asset Value (“NAV”)	583,060
NAV Surplus (Deficit)	1,267,064
Current Preferred Return Threshold	0
Undistributed Incentive Income	116,060
Distributed Incentive Income	152,597
Distributed Incentive Income Subject to Clawback	35,122
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Net Lease Fund I (2010) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	152,851
Inception to Date Distributions	(227,108)
Net Asset Value (“NAV”)	0
Undistributed Incentive Income	0
Distributed Incentive Income	9,743
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Real Estate Opportunities Fund (2011) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	544,586
Inception to Date Distributions	(370,375)
Net Asset Value (“NAV”)	370,554
NAV Surplus (Deficit)	196,343
Current Preferred Return Threshold	0
Undistributed Incentive Income	13,692
Distributed Incentive Income	3,465
Distributed Incentive Income Subject to Clawback	2,791
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Global Opportunities Fund (2010) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	331,379
Inception to Date Distributions	(175,653)
Net Asset Value (“NAV”)	236,322
NAV Surplus (Deficit)	80,596
Current Preferred Return Threshold	0
Undistributed Incentive Income	13,496
Distributed Incentive Income	2,220
Distributed Incentive Income Subject to Clawback	2,220
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Japan Opportunity Fund II (Yen) (2011) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	706,556
Inception to Date Distributions	(393,107)
Net Asset Value (“NAV”)	756,820
NAV Surplus (Deficit)	443,371
Current Preferred Return Threshold	0
Undistributed Incentive Income	68,135
Distributed Incentive Income	20,675
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Japan Opportunity Fund II (Dollar) (2011) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	674,509
Inception to Date Distributions	(394,357)
Net Asset Value (“NAV”)	689,439
NAV Surplus (Deficit)	409,287
Current Preferred Return Threshold	0
Undistributed Incentive Income	52,883
Distributed Incentive Income	26,163
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | Outside of Investment Period [Member] | Real Estate Opportunities REOC Fund (2011) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	57,299
Inception to Date Distributions	(43,758)
Net Asset Value (“NAV”)	41,617
NAV Surplus (Deficit)	28,076
Current Preferred Return Threshold	0
Undistributed Incentive Income	2,906
Distributed Incentive Income	2,681
Distributed Incentive Income Subject to Clawback	1,187
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member]
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income	36,018
Distributed Incentive Income	9,767
Distributed Incentive Income Subject to Clawback	2,605
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | FCO Managed Account (2010-2015) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	834,923
Inception to Date Distributions	(342,687)
Net Asset Value (“NAV”)	659,531
NAV Surplus (Deficit)	167,295
Current Preferred Return Threshold	4,358
Gain to Cross Incentive Income Threshold	1,911
Undistributed Incentive Income	20,812
Distributed Incentive Income	9,767
Distributed Incentive Income Subject to Clawback	2,605
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Life Settlements Fund (2010) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	406,548
Inception to Date Distributions	(299,330)
Net Asset Value (“NAV”)	70,386
NAV Surplus (Deficit)	(36,832)
Current Preferred Return Threshold	88,508
Gain to Cross Incentive Income Threshold	125,340
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Life Settlements Fund MA (2010) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	33,321
Inception to Date Distributions	(24,482)
Net Asset Value (“NAV”)	5,519
NAV Surplus (Deficit)	(3,320)
Current Preferred Return Threshold	7,266
Gain to Cross Incentive Income Threshold	10,586
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Real Estate Opportunities Fund II (2014) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	391,421
Inception to Date Distributions	(56,471)
Net Asset Value (“NAV”)	371,321
NAV Surplus (Deficit)	36,371
Current Preferred Return Threshold	0
Undistributed Incentive Income	6,145
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Japan Opportunity Fund II (Yen) (2014) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	144,822
Inception to Date Distributions	0
Net Asset Value (“NAV”)	163,488
NAV Surplus (Deficit)	18,666
Current Preferred Return Threshold	0
Undistributed Incentive Income	3,700
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Japan Opportunity Fund II (Dollar) (2014) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	108,247
Inception to Date Distributions	0
Net Asset Value (“NAV”)	125,131
NAV Surplus (Deficit)	16,884
Current Preferred Return Threshold	0
Undistributed Incentive Income	3,244
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Credit Opportunities Fund IV (2015) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	521,250
Inception to Date Distributions	(31,249)
Net Asset Value (“NAV”)	510,715
NAV Surplus (Deficit)	20,714
Current Preferred Return Threshold	0
Undistributed Incentive Income	2,117
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | Global Opportunities Fund II (2015) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	9,330
Inception to Date Distributions	(36)
Net Asset Value (“NAV”)	8,577
NAV Surplus (Deficit)	(717)
Current Preferred Return Threshold	195
Gain to Cross Incentive Income Threshold	912
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | CFT Co-invest Fund (CAD) (2015) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	11,995
Inception to Date Distributions	0
Net Asset Value (“NAV”)	11,791
NAV Surplus (Deficit)	(204)
Current Preferred Return Threshold	29
Gain to Cross Incentive Income Threshold	233
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Credit PE Funds [Member] | In Investment Period [Member] | CFT Co-invest Fund (USD) (2015) [Member]
Schedule of Management Agreements [Line Items]
Inception to Date Capital Invested	85,154
Inception to Date Distributions	0
Net Asset Value (“NAV”)	85,047
NAV Surplus (Deficit)	(107)
Current Preferred Return Threshold	205
Gain to Cross Incentive Income Threshold	312
Undistributed Incentive Income	0
Distributed Incentive Income	0
Distributed Incentive Income Subject to Clawback	0
Gross Intrinsic Clawback	0
Net Intrinsic Clawback	0
Permanent Capital Vehicle [Member]
Schedule of Management Agreements [Line Items]
Distributed Incentive Income	7,043
Permanent Capital Vehicle [Member] | Newcastle [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	751,544
Life to Date Incentive Income Crystallized	41,283
Permanent Capital Vehicle [Member] | Eurocastle [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	331,145
Gain to Cross Incentive Income Threshold	0
Undistributed Incentive Income	0
Life to Date Incentive Income Crystallized	42,147
Permanent Capital Vehicle [Member] | New Residential [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	2,714,461
Gain to Cross Incentive Income Threshold	0
Life to Date Incentive Income Crystallized	86,576
Permanent Capital Vehicle [Member] | New Media [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	645,007
Gain to Cross Incentive Income Threshold	0
Life to Date Incentive Income Crystallized	29,800
Permanent Capital Vehicle [Member] | New Senior [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	1,075,389
Gain to Cross Incentive Income Threshold	578
Life to Date Incentive Income Crystallized	0
Permanent Capital Vehicle [Member] | FTAI [Member]
Schedule of Management Agreements [Line Items]
Equity Eligible for Incentive Income	1,181,237
Gain to Cross Incentive Income Threshold	9,156
Undistributed Incentive Income	0
Life to Date Incentive Income Crystallized	$ 0

MANAGEMENT AGREEMENTS AND FOR44

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Liquid Hedge Funds and Credit Hedge Funds) (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	12 Months Ended
	May. 31, 2015	Feb. 25, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Management Agreements [Line Items]
Undistributed Incentive Income				$ 965,300
Portion of amount due to employees under profit shareing arragnements withheld as reserve against future clawback				$ 20,900
Percentage of undistributed and distributed income which the entity is entitled				50.00%
NAV of fund excluded				$ 95,800
Subsequent Event [Member]
Schedule of Management Agreements [Line Items]
Incentive income distribution		$ 66,900
Net incentive income, net of employee amounts		$ 45,100
Credit Hedge Funds [Member] | Main fund investments [Member] | Special Opportunities Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				4,793,583
Gain to Cross Incentive Income Threshold				$ 0
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				100.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				52,227
Credit Hedge Funds [Member] | Main fund investments [Member] | Worden Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				246,827
Gain to Cross Incentive Income Threshold				$ 3,713
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				85.30%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				791
Credit Hedge Funds [Member] | Main fund investments [Member] | Fortress Japan Income Fund [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				$ 87,832
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				100.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				364
Credit Hedge Funds [Member] | Sidepocket investments [Member] | Special Opportunities Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				42,399
Gain to Cross Incentive Income Threshold				7
Undistributed Incentive Income				2,911
Year to Date Incentive Income Crystallized				0
Credit Hedge Funds [Member] | Sidepocket investments - redeemers [Member] | Special Opportunities Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				141,767
Gain to Cross Incentive Income Threshold				48,640
Undistributed Incentive Income				4,880
Year to Date Incentive Income Crystallized				0
Credit Hedge Funds [Member] | Main fund investments (liquidating) [Member] | Special Opportunities Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				426,332
Gain to Cross Incentive Income Threshold				$ 0
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				100.00%
Undistributed Incentive Income				$ 54,380
Year to Date Incentive Income Crystallized				25,172
Credit Hedge Funds [Member] | Managed accounts [Member] | Special Opportunities Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				1,512
Gain to Cross Incentive Income Threshold				$ 49,209
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				0.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				0
Credit Hedge Funds [Member] | Managed accounts [Member] | Value Recovery Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				5,734
Gain to Cross Incentive Income Threshold				$ 7,342
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				33.00%
Undistributed Incentive Income				$ 29
Year to Date Incentive Income Crystallized				0
Liquid Hedge Funds [Member] | Main fund investments [Member] | Fortress Convex Asia Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				133,327
Gain to Cross Incentive Income Threshold				$ 11,804
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				0.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				56
Liquid Hedge Funds [Member] | Main fund investments [Member] | Fortress Partners Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				2,914
Gain to Cross Incentive Income Threshold				$ 7,851
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				0.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				49
Liquid Hedge Funds [Member] | Main fund investments [Member] | Fortress Centaurus Global Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				178,799
Gain to Cross Incentive Income Threshold				$ 2,794
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				48.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				673
Liquid Hedge Funds [Member] | Sidepocket investments [Member] | Fortress Partners Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				59,452
Gain to Cross Incentive Income Threshold				2,175
Undistributed Incentive Income				4,514
Year to Date Incentive Income Crystallized				0
Liquid Hedge Funds [Member] | Sidepocket investments - redeemers [Member] | Macro Funds [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				100,304
Gain to Cross Incentive Income Threshold				77,947
Undistributed Incentive Income				801
Year to Date Incentive Income Crystallized				121
Logan Circle [Member] | Main fund investments [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				67,393
Gain to Cross Incentive Income Threshold				$ 0
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				100.00%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				127
Logan Circle [Member] | Managed accounts [Member]
Schedule of Management Agreements [Line Items]
Incentive Income Eligible NAV				201,606
Gain to Cross Incentive Income Threshold				$ 3,029
Percentage of Incentive Income Eligible NAV Above Incentive Income Threshold				27.20%
Undistributed Incentive Income				$ 0
Year to Date Incentive Income Crystallized				$ 77
FTAI [Member]
Schedule of Management Agreements [Line Items]
Fortress Funds which are not subject to clawback provision	$ 7,000		$ 7,000
FTAI [Member] | Private Equity Funds [Member]
Schedule of Management Agreements [Line Items]
Fortress Funds which are not subject to clawback provision, portion from common shares received	$ 5,900		$ 5,900

MANAGEMENT AGREEMENTS AND FOR45

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Private Equity Funds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Private Equity Funds Formed During the Period [Line Items]
Investments	$ 1,055,789	$ 1,121,545	$ 1,253,266
Private Equity Funds [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	17,034,844
Investments	$ 608,728	$ 677,366	$ 786,093
Percent of Capital Commitments Drawn	94.50%
Capital commitments period	3 years
Private Equity Funds [Member] | Other Funds [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	$ 701,996
Private Equity Funds [Member] | Fortress's Affiliates [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	1,505,728
Private Equity Funds [Member] | Fortress [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	662,203
Private Equity Funds [Member] | Parent and Affiliates [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	$ 2,167,931
Private Equity Funds [Member] | Minimum [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Annual management fees rate	1.00%
Incentive Income	10.00%
Incentive Income Threshold Return	8.00%
Private Equity Funds [Member] | Maximum [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Annual management fees rate	1.50%
Incentive Income	20.00%
Incentive Income Threshold Return	10.00%
Private Equity Funds [Member] | Weighted Average [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Annual management fees rate	1.20%
Incentive Income	19.70%
Incentive Income Threshold Return	8.10%
Private Equity Funds [Member] | Employees, former employees and BOD Members [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	$ 260,127
Private Equity Funds [Member] | Principals [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Capital commitments	$ 543,605

MANAGEMENT AGREEMENTS AND FOR46

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Private Equity Funds - Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fortress [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Additional incentive income	$ 0.7	$ 0.9
Private Equity Funds [Member] | Weighted Average [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Portion of incentive income entitled by employees as weighted average percentage	27.40%
Frid [Member] | Fortress [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Incentive income distribution		16.4
Net incentive income, net of employee amounts		$ 10
Fund III And Fund III Coinvestment [Member]
Schedule of Private Equity Funds Formed During the Period [Line Items]
Assets under management	$ 700

MANAGEMENT AGREEMENTS AND FOR47

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Permanent Capital Vehicles) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Fortress’s Investment	$ 1,055,789	$ 1,121,545	$ 1,253,266
Permanent Capital Vehicle [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Fortress’s Investment	$ 20,518	$ 19,456	$ 19,188
Permanent Capital Vehicle [Member] | FTAI [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Incentive Income	10.00%
Permanent Capital Vehicle [Member] | Minimum [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Annual management fees rate	0.75%
Incentive Income	10.00%
Incentive Income Threshold Return	8.00%
Permanent Capital Vehicle [Member] | Maximum [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Annual management fees rate	1.50%
Incentive Income	25.00%
Incentive Income Threshold Return	10.00%

MANAGEMENT AGREEMENTS AND FOR48

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Permanent Capital Vehicles - Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	May. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015senior_living_propertyemployee
FTAI [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Fortress Funds which are not subject to clawback provision | $	$ 7	$ 7
Permanent Capital Vehicle [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Number of properties to be managed			26
Number of properties owned by third parties			2
Management fees to be received expressed as percentage of revenues for first two years			5.00%
Management fees to be received expressed as percentage of revenues after year two			7.00%
Number of on site employees whose expenses to be received as reimbursement | employee			1,868
Permanent Capital Vehicle [Member] | Maximum [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Management agreements initial period			10 years
Management agreements automatic extensions period			3 years
Permanent Capital Vehicle [Member] | Minimum [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Management agreements automatic extensions period			1 year
Permanent Capital Vehicle [Member] | New Senior [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Number of properties owned by investee			24
Private Equity Funds [Member] | FTAI [Member]
Schedule of Fortress Funds Formed, or those which Fortress Became Manager Of [Line Items]
Fortress Funds which are not subject to clawback provision, portion from common shares received | $	$ 5.9	$ 5.9

MANAGEMENT AGREEMENTS AND FOR49

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Credit Hedge Funds) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Investments	$ 1,055,789	$ 1,121,545	$ 1,253,266
Credit Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Investments	$ 44,804	$ 57,224	$ 58,825
Credit Hedge Funds [Member] | Weighted Average [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.00%
Credit Hedge Funds [Member] | Credit Hedge Funds self originated [Member]
Schedule of Management Agreements [Line Items]
Assets under management	$ 5,843,934
Investments	$ 44,804
Credit Hedge Funds [Member] | Credit Hedge Funds self originated [Member] | Minimum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.00%
Incentive income rate	10.00%
Credit Hedge Funds [Member] | Credit Hedge Funds self originated [Member] | Maximum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	2.75%
Incentive income rate	20.00%
Credit Hedge Funds [Member] | Credit Hedge Funds originated by others [Member]
Schedule of Management Agreements [Line Items]
Assets under management	$ 2,954,881
Investments	$ 0
Credit Hedge Funds [Member] | Credit Hedge Funds originated by others [Member] | Minimum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.00%
Incentive income rate	5.00%
Credit Hedge Funds [Member] | Credit Hedge Funds originated by others [Member] | Maximum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	2.00%
Incentive income rate	20.00%
Credit Hedge Funds [Member] | Credit Hedge Funds originated by others [Member] | Weighted Average [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	2.00%

MANAGEMENT AGREEMENTS AND FOR50

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Credit PE Funds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Investments	$ 1,055,789	$ 1,121,545	$ 1,253,266
Credit PE Funds [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	21,544,279
Investments	$ 187,664	$ 183,127	$ 159,044
Capital commitments drawn percentage	58.10%
Capital Commitments Period	3 years
Portion of incentive income entitled by employees as weighted average percentage	56.00%
Credit PE Funds [Member] | Minimum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	0.75%
Incentive income rate	10.00%
Incentive income threshold return rate	0.00%
Credit PE Funds [Member] | Maximum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	2.25%
Incentive income rate	20.00%
Incentive income threshold return rate	9.00%
Credit PE Funds [Member] | Weighted Average [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.30%
Incentive income rate	19.80%
Incentive income threshold return rate	7.70%
Credit PE Funds [Member] | Extend Beyond December 2017 [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	$ 4,600,000
Credit PE Funds [Member] | Extend Beyond December 2024 [Member]
Schedule of Management Agreements [Line Items]
Amount of longest fund termination extended beyond specified date	6,500,000
Credit PE Funds [Member] | Other Funds [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	616,406
Credit PE Funds [Member] | Fortress's Affiliates [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	948,842
Credit PE Funds [Member] | Fortress [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	319,567
Credit PE Funds [Member] | Parent and Affiliates [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	1,268,409
Credit PE Funds [Member] | Employees, former employees and BOD Members [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	219,003
Credit PE Funds [Member] | Principals [Member]
Schedule of Management Agreements [Line Items]
Capital commitments	$ 113,433

MANAGEMENT AGREEMENTS AND FOR51

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Liquid Hedge Funds) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Management Agreements [Line Items]
Investments	$ 1,055,789	$ 1,121,545	$ 1,253,266
Liquid Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Investments	$ 170,169	$ 167,630	$ 158,920
Liquid Hedge Funds [Member] | Maximum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	2.00%
Incentive income rate	20.00%
Management fees rate charged to new investor	2.00%
Liquid Hedge Funds [Member] | Minimum [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.00%
Incentive income rate	18.00%
Management fees rate charged to new investor	1.00%
Liquid Hedge Funds [Member] | Weighted Average [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	1.30%
Incentive income rate	19.70%
Liquid Hedge Funds Self Originated [Member] | Liquid Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Assets under management	$ 912,437
Investments	135,777
Liquid Hedge Funds Affiliated Managers [Member] | Liquid Hedge Funds [Member]
Schedule of Management Agreements [Line Items]
Assets under management	4,496,157
Investments	$ 34,392

MANAGEMENT AGREEMENTS AND FOR52

MANAGEMENT AGREEMENTS AND FORTRESS FUNDS (Traditional Asset Management Business) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)fund
Fixed Income Funds [Member] | Investments Made in Current Year [Member]
Schedule of Management Agreements [Line Items]
Number of new funds under management | fund	2
Net asset value	$ 163.5
Logan Circle [Member]
Schedule of Management Agreements [Line Items]
Assets under management	$ 31,200
Logan Circle [Member] | Weighted Average [Member]
Schedule of Management Agreements [Line Items]
Annual management fees rate	0.16%

INVESTMENTS AND FAIR VALUE (Inv

INVESTMENTS AND FAIR VALUE (Investments, Gains (Losses) and Generation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments
Equity method and other investees	$ 1,034,189	$ 1,106,338
Equity method investees, held at fair value	21,600	15,207
Total investments	1,055,789	1,121,545	$ 1,253,266
Options in equity method investees	30,427	71,844
Gains (losses) from investments
Net realized gains (losses)	4,495	(8,431)	1,247
Net realized gains (losses) from affiliate investments (A)	31,751	47,624	12,030
Net unrealized gains (losses)	(6,127)	25,661	6,273
Net unrealized gains (losses) from affiliate investments	(49,038)	(76,611)	34,383
Total gains (losses)	(18,919)	(11,757)	53,933
Gains (losses)
Mark to fair value on affiliate investments and options	(17,175)	(28,591)	46,371
Mark to fair value on derivatives	1,784	26,715	8,402
Mark to fair value on equity securities	(509)	965	2,962
Gains (losses) on digital currency (Bitcoin)	(1,175)	(9,470)	(3,702)
Other	(1,844)	(1,376)	(100)
Total gains (losses)	$ (18,919)	$ (11,757)	$ 53,933

INVESTMENTS AND FAIR VALUE (Nar

INVESTMENTS AND FAIR VALUE (Narrative) (Details) € in Thousands, $ in Thousands, shares in Millions	1 Months Ended			12 Months Ended
	Jan. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2013EUR (€)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)
Investment [Line Items]
Percentage of equity method investments in a fund with a single investment which focuses on the U.S. rail transportation and real estate sectors				25.00%	25.00%
Capital distributions		$ 42,000
Equity Method Investment Fair Value Adjustment				$ 7,558		$ (1,812)
(Gains) losses				18,919		11,757	$ (53,933)
Investments		1,055,789	$ 1,121,545	1,055,789		1,121,545	1,253,266
Non-cash investing activity			56,500
Notional amount		492,300		492,300
Credit PE Funds [Member]
Investment [Line Items]
Investments		187,664	183,127	187,664		183,127	159,044
Liquid Hedge Funds [Member]
Investment [Line Items]
Investments		170,169	167,630	$ 170,169		167,630	158,920
Newcastle, New Residential, New Media and New Senior [Member]
Investment [Line Items]
Vesting period				30 months	30 months
Exercisable period				10 years	10 years
Newcastle [Member]
Investment [Line Items]
Fair Value of Options at Grant Date						360	4,513		$ 2,017	$ 1,182
New Residential [Member]
Investment [Line Items]
Fair Value of Options at Grant Date				$ 12,705		1,604	14,428		11,768
New Residential [Member] | Subsequent Event [Member]
Investment [Line Items]
Tandem Options held by Employees | shares	1.7
Fair Value of Options at Grant Date	$ 300
New Senior [Member]
Investment [Line Items]
Fair Value of Options at Grant Date				2,978		1,383	$ 17,328		$ 7,739	$ 4,535
New Senior [Member] | Subsequent Event [Member]
Investment [Line Items]
Tandem Options held by Employees | shares	0.4
Fair Value of Options at Grant Date	$ 100
New Media [Member]
Investment [Line Items]
Fair Value of Options at Grant Date				$ 4,144		2,963
New Media [Member] | Subsequent Event [Member]
Investment [Line Items]
Tandem Options held by Employees | shares	0.1
Fair Value of Options at Grant Date	$ 300
Eurocastle [Member]
Investment [Line Items]
Exercisable period				10 years	10 years
Fair Value of Options at Grant Date | €					€ 4,756			€ 4,807
Deconsolidation, Variable Interest Entity, Primary Beneficiary [Member] | Credit PE Funds [Member]
Investment [Line Items]
Investments		$ 300		$ 300
Deconsolidation, Variable Interest Entity, Primary Beneficiary [Member] | Liquid Hedge Funds [Member]
Investment [Line Items]
Investments			$ 48,500			$ 48,500

INVESTMENTS AND FAIR VALUE (Sum

INVESTMENTS AND FAIR VALUE (Summary of Changes in Fortresss Investments in Equity Method Investees) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in investments in equity method investees
Investment, beginning		$ 1,121,545	$ 1,253,266
Earnings (losses) from equity method investees		(32,915)	78,199	$ 136,866
Contributions to equity method and other investees		189,025	310,584
Distributions of earnings from equity method and other investees		(43,858)	(110,967)
Distributions of capital from equity method and other investees		(253,961)	(399,103)
Total distributions from equity method and other investees		(297,819)	(510,070)
Consolidation of Investment Company			6,990
Mark to fair value - during period		(7,558)	1,812
Net purchases of investments by consolidated funds		52,376
Translation adjustment		(1,764)	(3,366)
Dispositions		(2,731)	(66,636)
Reclassification to Due to Affiliates		2,230	2,232
Deconsolidation of Liquid Hedge Fund			48,534
Retained interest in Graticule (Note 1)		33,400
Investment, ending	$ 1,055,789	1,055,789	1,121,545	1,253,266
Undistributed earnings - December 31, 2015	59,458	59,458
Capital distributions	42,000
Private Equity Funds [Member]
Changes in investments in equity method investees
Investment, beginning		677,366	786,093
Earnings (losses) from equity method investees		(49,346)	36,413	81,470
Contributions to equity method and other investees		5,227	2,994
Distributions of earnings from equity method and other investees		(14,342)	(70,409)
Distributions of capital from equity method and other investees		(7,899)	(78,155)
Total distributions from equity method and other investees		(22,241)	(148,564)
Consolidation of Investment Company			0
Mark to fair value - during period		(412)	(1,795)
Net purchases of investments by consolidated funds		0
Translation adjustment		(1,413)	(7)
Dispositions		(2,683)	0
Reclassification to Due to Affiliates		2,230	2,232
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	608,728	608,728	677,366	786,093
Undistributed earnings - December 31, 2015	42,572	42,572
Publicly Traded Private Equity Portfolio Companies [Member]
Changes in investments in equity method investees
Investment, beginning		1,035	63,001
Contributions to equity method and other investees		50	0
Consolidation of Investment Company			0
Mark to fair value - during period		(3)	5,200
Net purchases of investments by consolidated funds		0
Translation adjustment		0	(742)
Dispositions		0	(66,424)
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	1,082	1,082	1,035	63,001
Permanent Capital Vehicle [Member]
Changes in investments in equity method investees
Investment, beginning		19,456	19,188
Earnings (losses) from equity method investees		89	70
Contributions to equity method and other investees		7,742	5,640
Distributions of earnings from equity method and other investees		(173)	(79)
Distributions of capital from equity method and other investees		(216)	(4,148)
Total distributions from equity method and other investees		(389)	(4,227)
Consolidation of Investment Company			0
Mark to fair value - during period		(6,152)	(936)
Net purchases of investments by consolidated funds		0
Translation adjustment		(228)	(279)
Dispositions		0	0
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	20,518	20,518	19,456	19,188
Undistributed earnings - December 31, 2015	0	0
Credit Hedge Funds [Member]
Changes in investments in equity method investees
Investment, beginning		57,224	58,825
Earnings (losses) from equity method investees		3,920	8,236	12,242
Contributions to equity method and other investees		118,332	168,699
Distributions of earnings from equity method and other investees		(3,511)	(7,483)
Distributions of capital from equity method and other investees		(131,161)	(171,053)
Total distributions from equity method and other investees		(134,672)	(178,536)
Consolidation of Investment Company			0
Net purchases of investments by consolidated funds		0
Translation adjustment		0	0
Dispositions		0	0
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	44,804	44,804	57,224	58,825
Undistributed earnings - December 31, 2015	3,404	3,404
Credit PE Funds [Member]
Changes in investments in equity method investees
Investment, beginning		183,127	159,044
Earnings (losses) from equity method investees		19,630	28,693	29,824
Contributions to equity method and other investees		43,005	43,331
Distributions of earnings from equity method and other investees		(22,909)	(28,477)
Distributions of capital from equity method and other investees		(77,003)	(17,124)
Total distributions from equity method and other investees		(99,912)	(45,601)
Consolidation of Investment Company			0
Net purchases of investments by consolidated funds		41,985
Translation adjustment		(123)	(2,338)
Dispositions		(48)	(2)
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	187,664	187,664	183,127	159,044
Undistributed earnings - December 31, 2015	10,346	10,346
Liquid Hedge Funds [Member]
Changes in investments in equity method investees
Investment, beginning		167,630	158,920
Earnings (losses) from equity method investees		(6,387)	3,844	13,124
Contributions to equity method and other investees		13,844	89,324
Distributions of earnings from equity method and other investees		(658)	(4,487)
Distributions of capital from equity method and other investees		(37,660)	(128,505)
Total distributions from equity method and other investees		(38,318)	(132,992)
Consolidation of Investment Company			0
Net purchases of investments by consolidated funds		0
Translation adjustment		0	0
Dispositions		0	0
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			48,534
Retained interest in Graticule (Note 1)		33,400
Investment, ending	170,169	170,169	167,630	158,920
Undistributed earnings - December 31, 2015	3,136	3,136
Other [Member]
Changes in investments in equity method investees
Investment, beginning		15,707	8,195
Earnings (losses) from equity method investees		(821)	943
Contributions to equity method and other investees		825	596
Distributions of earnings from equity method and other investees		(2,265)	(32)
Distributions of capital from equity method and other investees		(22)	(118)
Total distributions from equity method and other investees		(2,287)	(150)
Consolidation of Investment Company			6,990
Mark to fair value - during period		(991)	(657)
Net purchases of investments by consolidated funds		10,391
Translation adjustment		0	0
Dispositions		0	(210)
Reclassification to Due to Affiliates		0	0
Deconsolidation of Liquid Hedge Fund			0
Retained interest in Graticule (Note 1)		0
Investment, ending	22,824	22,824	$ 15,707	$ 8,195
Undistributed earnings - December 31, 2015	$ 0	$ 0

INVESTMENTS AND FAIR VALUE (Amo

INVESTMENTS AND FAIR VALUE (Amounts Presented on the Statement of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Contributions
Per Consolidated Statements of Cash Flows	$ 33,855	$ 36,110	$ 37,084
Investments of incentive receivable amounts into Fortress Funds	138,026	258,023	227,091
Net funded	17,094	16,451
Other	50	0
Contributions to equity method and other investees	189,025	310,584
Distributions of Capital
Per Consolidated Statements of Cash Flows	(235,290)	(379,940)	$ (281,481)
Investments of Incentive Receivable Amounts into Investment Funds, Distributions	0	0
Change in distributions payable out of Fortress Funds	(177)	172
Net funded	(17,094)	(16,451)
Other	(1,400)	(2,884)
Distributions of capital from equity method and other investees	$ (253,961)	$ (399,103)

INVESTMENTS AND FAIR VALUE (Own

INVESTMENTS AND FAIR VALUE (Ownership Percentages) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)quarter	Dec. 31, 2015USD ($)fund	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Equity Method Investments [Line Items]
Fortress’s Investment	$ 1,055,789	$ 1,055,789	$ 1,121,545	$ 1,253,266
Fortress’s earnings (losses) from equity method investees		(32,915)	78,199	136,866
Private Equity Funds [Member]
Schedule of Equity Method Investments [Line Items]
Assets	11,950,687	11,950,687	13,484,372
Debt	(3,144)	(3,144)	(3,251)
Other liabilities	(151,778)	(151,778)	(143,363)
Equity	11,795,765	11,795,765	13,337,758
Fortress’s Investment	$ 608,728	$ 608,728	$ 677,366	786,093
Ownership	5.20%	5.20%	5.10%
Revenues and gains (losses) on investments		$ (1,126,186)	$ 731,574	2,335,934
Expenses		(178,022)	(194,509)	(208,301)
Net Income (Loss)		(1,304,208)	537,065	2,127,633
Fortress’s earnings (losses) from equity method investees		$ (49,346)	36,413	81,470
Number Of Entities Reported Using Lagging Financial Information | fund		4
Lag in Preparation of Summary Financial Information Number of Quarters | quarter	1
Credit Hedge Funds [Member]
Schedule of Equity Method Investments [Line Items]
Assets	$ 10,959,844	$ 10,959,844	11,349,879
Debt	(4,413,323)	(4,413,323)	(4,621,360)
Other liabilities	(174,397)	(174,397)	(283,818)
Non-controlling interest	(11,068)	(11,068)	(14,406)
Equity	6,361,056	6,361,056	6,430,295
Fortress’s Investment	$ 44,804	$ 44,804	$ 57,224	58,825
Ownership	0.70%	0.70%	0.90%
Revenues and gains (losses) on investments		$ 747,861	$ 1,011,969	1,295,945
Expenses		(403,646)	(340,373)	(255,222)
Net Income (Loss)		344,215	671,596	1,040,723
Fortress’s earnings (losses) from equity method investees		3,920	8,236	12,242
Credit PE Funds [Member]
Schedule of Equity Method Investments [Line Items]
Assets	$ 12,770,674	12,770,674	11,992,369
Debt	(259,114)	(259,114)	(67,618)
Other liabilities	(373,224)	(373,224)	(824,837)
Non-controlling interest	(3,963)	(3,963)	(4,852)
Equity	12,134,373	12,134,373	11,095,062
Fortress’s Investment	$ 187,664	$ 187,664	$ 183,127	159,044
Ownership	1.50%	1.50%	1.70%
Revenues and gains (losses) on investments		$ 1,718,546	$ 2,381,032	1,835,118
Expenses		(310,125)	(369,653)	(325,436)
Net Income (Loss)		1,408,421	2,011,379	1,509,682
Fortress’s earnings (losses) from equity method investees		$ 19,630	28,693	29,824
Number Of Entities Reported Using Lagging Financial Information | fund		1
Lag in Preparation of Summary Financial Information Number of Quarters | quarter	1
Foreign Entity Recorded on Lag Period		1 month
Liquid Hedge Funds [Member]
Schedule of Equity Method Investments [Line Items]
Assets	$ 2,279,590	$ 2,279,590	13,132,531
Debt	0	0	0
Other liabilities	(829,515)	(829,515)	(5,733,970)
Non-controlling interest	0	0	0
Equity	1,450,075	1,450,075	7,398,561
Fortress’s Investment	$ 170,169	$ 170,169	$ 167,630	158,920
Ownership	11.70%	11.70%	2.30%
Revenues and gains (losses) on investments		$ (190,659)	$ 220,958	838,506
Expenses		(212,545)	(219,303)	(159,892)
Net Income (Loss)		(403,204)	1,655	678,614
Fortress’s earnings (losses) from equity method investees		$ (6,387)	$ 3,844	$ 13,124

INVESTMENTS AND FAIR VALUE (Ent

INVESTMENTS AND FAIR VALUE (Entities Information) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)variable_interest_entity	Dec. 31, 2014USD ($)variable_interest_entity
Fortress is not Primary Beneficiary [Member]
Investments in Variable Interest Entities
Management fees receivable	$ 17,300	$ 7,100
Incentive income receivable	39,700	79,800
Expense reimbursements and other receivables	$ 16,700	$ 11,900
Fortress is not Primary Beneficiary [Member] | Private Equity Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	1	2
Gross Assets	$ 136,129	$ 85,553
Financial Obligations	0	0
Fortress Investment	1,959	$ 56
Expense reimbursements and other receivables	$ 1,900
Fortress is not Primary Beneficiary [Member] | Permanent Capital Vehicle [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	6	5
Gross Assets	$ 23,618,598	$ 14,539,141
Financial Obligations	15,581,168	10,336,207
Fortress Investment	114,228	154,346
Financial borrowings included in financial obligations	$ 15,192,600	$ 9,911,400
Weighted average maturity period of financial borrowings	2 years	1 year 10 months 24 days
Management fees receivable	$ 12,300	$ 6,100
Incentive income receivable	37,300	55,300
Expense reimbursements and other receivables	$ 13,600	$ 6,900
Fortress is not Primary Beneficiary [Member] | Credit Hedge Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	8	8
Gross Assets	$ 1,912,019	$ 1,976,328
Financial Obligations	426,988	152,806
Fortress Investment	5,405	25,474
Financial borrowings included in financial obligations	$ 423,400	$ 151,700
Weighted average maturity period of financial borrowings	9 years 8 months 12 days	7 years 7 months 6 days
Management fees receivable	$ 100	$ 500
Incentive income receivable	2,400	21,900
Expense reimbursements and other receivables	$ 900	$ 1,100
Fortress is not Primary Beneficiary [Member] | Credit PE Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	35	30
Gross Assets	$ 990,008	$ 735,855
Financial Obligations	232,082	143,743
Fortress Investment	9,659	5,897
Financial borrowings included in financial obligations	$ 232,100	$ 143,700
Weighted average maturity period of financial borrowings	2 years 3 months 4 days	2 years 3 months 18 days
Management fees receivable	$ 800	$ 500
Expense reimbursements and other receivables	$ 100	$ 100
Fortress is not Primary Beneficiary [Member] | Liquid Hedge Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	4	2
Gross Assets	$ 364,535	$ 3,070,203
Financial Obligations	1,270	432,580
Fortress Investment	39,192	7,094
Financial borrowings included in financial obligations	$ 1,200
Weighted average maturity period of financial borrowings	11 years
Management fees receivable	$ 4,100
Incentive income receivable		2,600
Expense reimbursements and other receivables	$ 200	$ 3,800
Fortress is Primary Beneficiary [Member] | Private Equity Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	9	9
Gross Assets	$ 71,277	$ 90,723
Financial Obligations	0	0
Fortress Investment	18,666	20,368
Investments in and Advances to Affiliates, Balance, Principal Amount	$ 10,100	$ 10,300
Fortress is Primary Beneficiary [Member] | Credit PE Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	2	2
Gross Assets	$ 400	$ 434
Financial Obligations	0	0
Fortress Investment	$ 20	$ 22
Fortress is Primary Beneficiary [Member] | Liquid Hedge Funds [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	1	3
Gross Assets	$ 6,126	$ 8,714
Financial Obligations	0	0
Fortress Investment	$ 2,821	$ 4,125
Fortress is Primary Beneficiary [Member] | Logan Circle [Member]
Investments in Variable Interest Entities
Number of VIEs | variable_interest_entity	1	1
Gross Assets	$ 4,468	$ 6,566
Financial Obligations	0	0
Fortress Investment	4,317	4,783
Management fees receivable	$ 100	$ 100

INVESTMENTS AND FAIR VALUE (Fai

INVESTMENTS AND FAIR VALUE (Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets (within Investments)
Total equity method investments carried at fair value	$ 21,600	$ 15,207
Options in equity method investees	30,427	71,844
Fair Value [Member]
Assets (within Investments)
Total equity method investments carried at fair value	21,600	15,207
Fair Value [Member] | Level 1 [Member]
Assets (within Other Assets)
Equity Securities	0	17,627
Fair Value [Member] | Level 1 [Member] | Publicly traded permanent capital vehicles [Member] | Common Stock [Member]
Assets (within Investments)
Total equity method investments carried at fair value	20,518	14,172
Fair Value [Member] | Level 1 [Member] | Publicly traded portfolio companies [Member] | Common Stock [Member]
Assets (within Investments)
Total equity method investments carried at fair value	1,082	1,035
Fair Value [Member] | Level 2 [Member]
Assets (within Investments)
Options in equity method investees	30,427	71,844
Assets (within Other Assets)
Derivatives	22,146	27,105
Liabilities (within Accrued Compensation and Benefits)
Options in affiliates granted to employees	(3,010)	(8,356)
Liabilities (within Other Liabilities)
Derivatives	$ (2,201)	$ (932)

INVESTMENTS AND FAIR VALUE (Val

INVESTMENTS AND FAIR VALUE (Valuation Assumptions) (Details)	12 Months Ended
	Dec. 31, 2015
Options due to expire prior to expected payment of future dividends [Member]
Investments and Fair Value [Line Items]
Dividend Yield (as a percent)	0.00%
Newcastle [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	0.80%
Dividend Yield (as a percent)	10.93%
Volatility (as a percent)	26.40%
Newcastle [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	2.11%
Dividend Yield (as a percent)	17.99%
Volatility (as a percent)	35.51%
New Residential [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	0.80%
Dividend Yield (as a percent)	9.83%
Volatility (as a percent)	25.76%
New Residential [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	2.17%
Dividend Yield (as a percent)	18.13%
Volatility (as a percent)	28.81%
New Media [Member]
Investments and Fair Value [Line Items]
Volatility (as a percent)	36.15%
New Media [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	2.11%
Dividend Yield (as a percent)	4.30%
New Media [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	2.14%
Dividend Yield (as a percent)	4.46%
New Senior [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	0.80%
Dividend Yield (as a percent)	8.13%
Volatility (as a percent)	23.21%
New Senior [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	2.17%
Dividend Yield (as a percent)	14.70%
Volatility (as a percent)	26.62%
Eurocastle [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	0.05%
Dividend Yield (as a percent)	4.49%
Volatility (as a percent)	24.81%
Eurocastle [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Risk-Free Rate (as a percent)	0.93%
Dividend Yield (as a percent)	5.68%
Volatility (as a percent)	26.89%

INVESTMENTS AND FAIR VALUE (S61

INVESTMENTS AND FAIR VALUE (Summary of Common Stock Offerings and Option Grants) (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015EUR (€)	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2013EUR (€)	Dec. 31, 2012USD ($)$ / sharesshares	Dec. 31, 2011USD ($)$ / sharesshares	Dec. 31, 2015€ / sharesshares	Dec. 31, 2013€ / sharesshares
Newcastle [Member]
Investments and Fair Value [Line Items]
Options Issued at Grant Date			765,416	2,978,348		1,121,250	718,750		2,978,348
Share price (in dollars per share) | $ / shares			$ 4.01			$ 1	$ 1
Fair Value of Options at Grant Date | $			$ 360	$ 4,513		$ 2,017	$ 1,182
Options held by Fortress	115,239							115,239
Newcastle [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares				$ 2.32
Newcastle [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares				$ 3.57
Newcastle [Member] | 2011 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	583,149							583,149
Tandem Options held by Employees	0							0
Available to Fortress	583,149							583,149
Newcastle [Member] | 2012 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	949,997							949,997
Tandem Options held by Employees	0							0
Available to Fortress	949,997							949,997
Newcastle [Member] | 2013 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	2,978,338							2,978,338
Tandem Options held by Employees	266,657							266,657
Available to Fortress	2,711,681							2,711,681
Newcastle [Member] | 2014 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	765,416							765,416
Tandem Options held by Employees	0							0
Available to Fortress	765,416							765,416
New Residential [Member]
Investments and Fair Value [Line Items]
Options Issued at Grant Date	8,543,539		1,437,500	4,025,000		3,363,750		8,543,539	4,025,000
Share price (in dollars per share) | $ / shares			$ 12.20
Fair Value of Options at Grant Date | $	$ 12,705		$ 1,604	$ 14,428		$ 11,768
Options held by Fortress	345,720							345,720
New Residential [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares	$ 15.25			$ 10.24		$ 6.82
New Residential [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares	$ 15.88			$ 11.48		$ 7.34
New Residential [Member] | 2012 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	25,000							25,000
Tandem Options held by Employees	0							0
Available to Fortress	25,000							25,000
New Residential [Member] | 2013 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	1,936,068							1,936,068
Tandem Options held by Employees	1,100,497							1,100,497
Available to Fortress	835,571							835,571
New Residential [Member] | 2014 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	1,437,500							1,437,500
Tandem Options held by Employees	258,750							258,750
Available to Fortress	1,178,750							1,178,750
New Residential [Member] | 2015 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	8,543,539							8,543,539
Tandem Options held by Employees	0							0
Available to Fortress	8,543,539							8,543,539
New Senior [Member]
Investments and Fair Value [Line Items]
Options Issued at Grant Date	2,011,409		765,416	2,978,348		1,121,250	718,750	2,011,409	2,978,348
Share price (in dollars per share) | $ / shares	$ 13.75		$ 20.89
Fair Value of Options at Grant Date | $	$ 2,978		$ 1,383	$ 17,328		$ 7,739	$ 4,535
Options held by Fortress	115,239							115,239
New Senior [Member] | Minimum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares				$ 14.42		$ 7.66	$ 4.09
New Senior [Member] | Maximum [Member]
Investments and Fair Value [Line Items]
Share price (in dollars per share) | $ / shares				$ 19.23		$ 8.75	$ 7.18
New Senior [Member] | 2011 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	465,832							465,832
Tandem Options held by Employees	0							0
Available to Fortress	465,832							465,832
New Senior [Member] | 2012 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	916,029							916,029
Tandem Options held by Employees	0							0
Available to Fortress	916,029							916,029
New Senior [Member] | 2013 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	2,978,338							2,978,338
Tandem Options held by Employees	266,657							266,657
Available to Fortress	2,711,681							2,711,681
New Senior [Member] | 2014 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	765,416							765,416
Tandem Options held by Employees	0							0
Available to Fortress	765,416							765,416
New Senior [Member] | 2015 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	2,011,409							2,011,409
Tandem Options held by Employees	0							0
Available to Fortress	2,011,409							2,011,409
New Media [Member]
Investments and Fair Value [Line Items]
Options Issued at Grant Date	700,000		745,062					700,000
Share price (in dollars per share) | $ / shares	$ 21.70		$ 15.71
Fair Value of Options at Grant Date | $	$ 4,144		$ 2,963
New Media [Member] | 2014 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	745,062							745,062
Tandem Options held by Employees	92,751							92,751
Available to Fortress	652,311							652,311
New Media [Member] | 2015 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	700,000							700,000
Tandem Options held by Employees	0							0
Available to Fortress	700,000							700,000
Eurocastle [Member]
Investments and Fair Value [Line Items]
Options Issued at Grant Date	3,976,299			1,500,000				3,976,299	1,500,000
Share price (in dollars per share) | € / shares								€ 7.85	€ 7.25
Fair Value of Options at Grant Date | €		€ 4,756			€ 4,807
Options held by Fortress	18,886							18,886
Eurocastle [Member] | 2013 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	1,500,000							1,500,000
Tandem Options held by Employees	0							0
Available to Fortress	1,500,000							1,500,000
Eurocastle [Member] | 2015 [Member]
Investments and Fair Value [Line Items]
Options held by Fortress	3,976,299							3,976,299
Tandem Options held by Employees	0							0
Available to Fortress	3,976,299							3,976,299

INVESTMENTS AND FAIR VALUE (Opt

INVESTMENTS AND FAIR VALUE (Options in Permanent Capital Vehicles) (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares	Dec. 31, 2015€ / sharesshares
Newcastle [Member]
Investments and Fair Value [Line Items]
Weighted Average Option Strike Price | $ / shares	$ 13.16
Options held by Fortress	115,239	115,239
New Senior [Member]
Investments and Fair Value [Line Items]
Weighted Average Option Strike Price | $ / shares	$ 56.01
Options held by Fortress	115,239	115,239
New Residential [Member]
Investments and Fair Value [Line Items]
Weighted Average Option Strike Price | $ / shares	$ 31.31
Options held by Fortress	345,720	345,720
Eurocastle [Member]
Investments and Fair Value [Line Items]
Weighted Average Option Strike Price | € / shares		€ 6,151.76
Options held by Fortress	18,886	18,886

INVESTMENTS AND FAIR VALUE (Der

INVESTMENTS AND FAIR VALUE (Derivatives Not Designated as Hedges) (Details) ¥ in Thousands, CAD in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015JPY (¥)	Dec. 31, 2015CAD
Derivatives
Notional Amount	$ 492,300
Mark to fair value on derivatives	1,784	$ 26,715	$ 8,402
Foreign Exchange Option [Member] | Other Assets [Member]
Derivatives
Fair Value, Assets	21,884
Notional Amount | ¥				¥ 40,160,526
Gains/(Losses)	1,788
Foreign Exchange Option [Member] | Other Liabilities [Member]
Derivatives
Fair Value, Liabilities	(994)
Notional Amount | ¥				8,593,346
Gains/(Losses)	(532)
Foreign Exchange Forward - Maturity January 2016 to December 2017 [Member] | Other Assets [Member]
Derivatives
Fair Value, Assets	262
Notional Amount | ¥				2,568,543
Gains/(Losses)	186
Foreign Exchange Forward - Maturity January 2016 to June 2016 [Member] | Other Liabilities [Member]
Derivatives
Fair Value, Liabilities	(590)
Notional Amount | ¥				¥ 6,106,852
Gains/(Losses)	(590)
Foreign Exchange Forward - Maturity June 2016 [Member] | Other Liabilities [Member]
Derivatives
Fair Value, Liabilities	(617)
Notional Amount | CAD					CAD 123,802
Gains/(Losses)	$ (617)

INVESTMENTS AND FAIR VALUE (D64

INVESTMENTS AND FAIR VALUE (Derivative Offsets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Net amounts of assets presented in the Consolidated Balance Sheet	$ 22,146	$ 27,105
Net amounts of liabilities presented in the Consolidated Balance Sheet	(2,201)	$ (932)
Citibank N.A. [Member]
Offsetting Assets [Line Items]
Gross amounts of recognized assets	23,878
Gross amounts offset in the Consolidated Balance Sheet	(1,732)
Net amounts of assets presented in the Consolidated Balance Sheet	22,146
Gross amounts of recognized liabilities	(3,261)
Gross amounts offset in the Consolidated Balance Sheet	1,060
Net amounts of liabilities presented in the Consolidated Balance Sheet	(2,201)
Citibank N.A. [Member] | Foreign Exchange Option [Member]
Offsetting Assets [Line Items]
Gross amounts of recognized assets	23,616
Gross amounts offset in the Consolidated Balance Sheet	(1,732)
Net amounts of assets presented in the Consolidated Balance Sheet	21,884
Gross amounts of recognized liabilities	(2,054)
Gross amounts offset in the Consolidated Balance Sheet	1,060
Net amounts of liabilities presented in the Consolidated Balance Sheet	(994)
Citibank N.A. [Member] | Foreign Exchange Forward [Member]
Offsetting Assets [Line Items]
Gross amounts of recognized assets	262
Gross amounts offset in the Consolidated Balance Sheet	0
Net amounts of assets presented in the Consolidated Balance Sheet	262
Gross amounts of recognized liabilities	(1,207)
Gross amounts offset in the Consolidated Balance Sheet	0
Net amounts of liabilities presented in the Consolidated Balance Sheet	$ (1,207)

DEBT OBLIGATIONS (Narrative) (D

DEBT OBLIGATIONS (Narrative) (Details) $ / shares in Units, shares in Millions	1 Months Ended				3 Months Ended	12 Months Ended
	Feb. 25, 2016USD ($)	Jan. 31, 2016USD ($)	Nov. 30, 2015USD ($)$ / sharesshares	Feb. 28, 2013USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Fair value of outstanding debt					$ 231,800,000	$ 231,800,000
Payments to acquire Fortress Operating Group units			$ 100,000,000
Unused commitment fees (as a percent)					0.40%
Covenant assets under management					$ 46,563,000,000	$ 46,563,000,000
Covenant consolidated leverage ratio					0.59	0.59
Consolidated interest coverage ratio					86.73	86.73
Excess proceeds lent as intercompany debt						$ 802,300,000
Intercompany debt					$ 667,700,000	667,700,000
Class B Shares [Member]
Debt Instrument [Line Items]
Number of Fortress Operating Group units repurchased | shares			56.8
Share price (in dollars per share) | $ / shares			$ 4.50
Value of Fortress Operating Group units repurchased			$ 255,700,000
Promissory Note To Principal For Fortress Operating Group Units [Member]
Debt Instrument [Line Items]
Promissory note principal amount			$ 155,700,000
Revolving debt [Member]
Debt Instrument [Line Items]
Maximum borrowing amount				$ 150,000,000	150,000,000	150,000,000
Extinguishment of debt				60,000,000
Amount Available for Draws					72,332,000	$ 72,332,000
Revolving debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Contractual Interest Rate, spread (as a percent)						2.50%
Revolving debt [Member] | 2016 Credit Agreement [Member]
Debt Instrument [Line Items]
Covenant assets under management					$ 30,000,000,000	$ 30,000,000,000
Covenant consolidated leverage ratio					2.50	2.50
Consolidated interest coverage ratio					4	4
Revolving debt [Member] | 2016 Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing amount		$ 275,000,000
Proceeds from credit facility	$ 100,000,000	75,000,000
Amount Available for Draws		$ 97,300,000
Unused commitment fees (as a percent)		0.25%
Revolving debt [Member] | 2016 Credit Agreement [Member] | LIBOR [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Contractual Interest Rate, spread (as a percent)		1.75%
Letter of credit subfacility [Member]
Debt Instrument [Line Items]
Maximum borrowing amount				$ 15,000,000	$ 15,000,000	$ 15,000,000
Letter of credit subfacility [Member] | 2016 Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing amount		$ 15,000,000
Maximum [Member]
Debt Instrument [Line Items]
Covenant consolidated leverage ratio					2	2
Minimum [Member]
Debt Instrument [Line Items]
Covenant assets under management					$ 25,000,000,000	$ 25,000,000,000
Consolidated interest coverage ratio					4	4

DEBT OBLIGATIONS (Debt Obligati

DEBT OBLIGATIONS (Debt Obligation Payable) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Feb. 28, 2013
Line of Credit Facility [Line Items]
Debt obligations payable	$ 230,677,000	$ 230,677,000	$ 75,000,000
Amount utilized	$ 2,700,000	2,700,000
Unused commitment fees (as a percent)	0.40%
Revolving debt [Member]
Line of Credit Facility [Line Items]
Debt obligations payable	$ 75,000,000	$ 75,000,000	75,000,000
Final Stated Maturity		Feb. 28, 2016
Amount Available for Draws	72,332,000	$ 72,332,000
Maximum borrowing amount	150,000,000	$ 150,000,000		$ 150,000,000
Revolving debt [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Contractual Interest Rate, spread (as a percent)		2.50%
Letter of credit subfacility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing amount	15,000,000	$ 15,000,000		$ 15,000,000
Promissory Note To Principal For Fortress Operating Group Units [Member]
Line of Credit Facility [Line Items]
Debt obligations payable	$ 155,677,000	$ 155,677,000	$ 0
Debt Instrument, Interest Rate, Stated Percentage	5.00%	5.00%

DEBT OBLIGATIONS (Financial Cov

DEBT OBLIGATIONS (Financial Covenant Requirements) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
AUM, as defined	$ 46,563,000,000
Consolidated Leverage Ratio	0.59
Consolidated Interest Coverage Ratio	86.73
Number of trailing quarters in calculation of Consolidated Leverage Ratio	12 years
Number of trailing quarters used in the calculation of the Consolidated Interest Coverage Ratio	12 years
Minimum [Member]
Debt Instrument [Line Items]
Assets under management, covenant requirement	$ 25,000,000,000
AUM, as defined	$ 25,000,000,000
Consolidated interest coverage ratio, covenant requirement	4
Consolidated Interest Coverage Ratio	4
Maximum [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio, covenant requirement	2
Consolidated Leverage Ratio	2

INCOME TAXES AND TAX RELATED 68

INCOME TAXES AND TAX RELATED PAYMENTS (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 12,500	$ 7,800	$ 26,000
Excess tax benefits from delivery of RSUs		4,808	3,538	0
Deferred income tax expense (benefit)		(20,331)	18,044	(54,431)
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		$ 1,700	$ 700	$ 0
Percentage of expected cash tax savings resulting from the increase in tax basis deductions		85.00%	85.00%	85.00%
Current income tax expense debited to paid-in capital related to equity-based compensation				$ 1,000
Income tax receivable agreement expected payments term		15 years
Capital decrease in connection with certain equity transactions that occurred prior to Fortress's initial public offering, and related tax effects		$ 393,000
Tax paid under the tax receivable agreement relating to a tax return in the prior year		31,100
Tax paid under the tax receivable agreement relating to a tax return two years prior			$ 24,100	21,800
Payments pursuant to the tax receivable agreement		36,600
Income Tax Expense Due To Increase In Tax Receivable Agreement Liability		$ 6,100
Class A Shares [Member]
Income Tax Disclosure [Line Items]
Stock exchange conversion ratio		1
Class B Shares [Member]
Income Tax Disclosure [Line Items]
Number of Fortress Operating Group units repurchased	56.8
Share price (in dollars per share)	$ 4.50
Value of Fortress Operating Group units repurchased	$ 255,700
Maximum [Member]
Income Tax Disclosure [Line Items]
Increase in tax liability for the tax receivable agreement to represent 85% of the expected cash tax savings resulting from the increase in tax basis deduction		$ 100	39,100	100
Equity method investee [Member]
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		400	500	(700)
Due to change in ownership and other [Member]
Income Tax Disclosure [Line Items]
Deferred tax asset, change in amount		17,200	(8,000)	2,700
Valuation allowance for deferred tax asset, change in amount		2,200	(3,500)	500
Due to step up in tax basis due to share exchanges [Member]
Income Tax Disclosure [Line Items]
Deferred tax asset, change in amount		13,300	48,500	12,100
Valuation allowance for deferred tax asset, change in amount		900	900	900
RSUs [Member]
Income Tax Disclosure [Line Items]
Excess tax benefits from delivery of RSUs		$ 4,800	$ 3,500
Restricted Stock Units and Restricted Performance Units [Member]
Income Tax Disclosure [Line Items]
Excess tax benefits from delivery of RSUs				$ 24,600

INCOME TAXES AND TAX RELATED 69

INCOME TAXES AND TAX RELATED PAYMENTS (Provision for Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current
Federal income tax expense (benefit)									$ 8,552	$ 7,558	$ 1,185
Foreign income tax expense (benefit)									19,570	12,258	8,875
State and local income tax expense (benefit)									7,335	5,175	1,310
Total current tax expense									35,457	24,991	11,370
Deferred
Federal income tax expense (benefit)									23,209	(1,051)	47,953
Foreign income tax expense (benefit)									3,472	1,115	65
State and local income tax expense (benefit)									(6,350)	(18,108)	6,413
Deferred income tax expense (benefit)									20,331	(18,044)	54,431
Total expense (benefit)	$ 39,004	$ 3,584	$ (5,199)	$ 18,399	$ (9,987)	$ 3,024	$ 7,916	$ 5,994	$ 55,788	$ 6,947	$ 65,801

INCOME TAXES AND TAX RELATED 70

INCOME TAXES AND TAX RELATED PAYMENTS (Federal Taxible Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Federal taxable income		$ 150.9	$ 90.7	$ 80.9	$ 53.5
2015: Estimated	$ 143.9
2016 - 2023: Average Required	$ 84.1

INCOME TAXES AND TAX RELATED 71

INCOME TAXES AND TAX RELATED PAYMENTS (Tax Effect of Temporary Differences) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pre-IPO equity transaction - tax basis adjustment
Tax basis goodwill and other intangible assets	$ 214,625	$ 235,372
Other assets	6,770	19,161
Principals’ (and a former senior employee’s) exchanges - tax basis adjustment
Tax basis goodwill and other intangible assets	85,501	76,390
Other assets	3,340	2,417
Public offering basis difference	(947)	(922)
Compensation and benefits	12,776	11,017
Options in affiliates	2,767	3,558
Partnership basis differences	121,288	77,158
Other	23,639	15,008
Gross deferred tax assets	469,759	439,159
Valuation allowance	(39,616)	(13,072)	$ (49,805)
Deferred tax liabilities	(3,041)	(8,464)
Net deferred tax assets	$ 427,102	$ 417,623

INCOME TAXES AND TAX RELATED 72

INCOME TAXES AND TAX RELATED PAYMENTS (Changes in Deferred Tax Asset Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at the beginning of the period	$ 13,072	$ 49,805
Balance at the end of the period	39,616	13,072
Due to change in ownership [Member]
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Valuation allowance for deferred tax asset, change in amount	3,095	(2,575)
Due to factors other than change in ownership [Member]
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Valuation allowance for deferred tax asset, change in amount	$ 23,449	$ (34,158)

INCOME TAXES AND TAX RELATED 73

INCOME TAXES AND TAX RELATED PAYMENTS (Reconciliation of the U.S. Federal Statutory Income Tax Expense Rate) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	35.00%	35.00%	35.00%
(Income) loss passed through to stockholders	(14.75%)	(17.95%)	(13.30%)
State and local income taxes	3.81%	6.08%	4.33%
Change in tax rate on certain deferred tax benefits	(5.76%)	(16.08%)	(0.60%)
Tax receivable agreement liability adjustment	1.60%	10.74%	1.16%
Foreign taxes	6.59%	6.54%	1.55%
Deferred tax asset write-off	0.00%	14.00%	8.41%
Valuation allowance	17.46%	(31.65%)	(11.95%)
Other	(2.40%)	(0.24%)	0.11%
Effective income tax rate	41.55%	6.44%	24.71%

RELATED PARTY TRANSACTIONS AN74

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Narrative) (Details) $ in Millions	1 Months Ended		2 Months Ended	12 Months Ended
	Feb. 28, 2017USD ($)	Feb. 25, 2016USD ($)	Feb. 25, 2016USD ($)	Dec. 31, 2015USD ($)employeesubsidiaryprincipal	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Related Party Transaction [Line Items]
Past due management fees receivable				$ 38.6
Private equity general and administrative expenses advanced on behalf of certain Fortress Funds				$ 11
Unreserved amount as percentage of NAV, both individually and in the aggregate (less than 5%)				5.00%
Allowances for uncollectible management fees				$ 12.2	$ 12.2
Allowances for uncollectible expense reimbursements				6.8	6.6
Revenues from affiliates included in other revenues				5.5	2.5	$ 1.7
Interest waived by the entity owed from its private equity funds related to management fees paid in arrears				$ 1.6	1.5	1.8
Number of consolidated subsidiaries that act as loan origination platform | subsidiary				1
Aggregate reimbursement due for taxes				$ 3.2	1.1	0.1
Number of Principles who leased or directly owned aircraft used for business purposes | principal				2
Computer Software and Technology Equipment [Member] | Affiliated Entity [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Consideration for sale of assets		$ 1.7
Proceeds from sale of assets		$ 1.1
Computer Software and Technology Equipment [Member] | Affiliated Entity [Member] | Scenario, Forecast [Member]
Related Party Transaction [Line Items]
Proceeds from sale of assets	$ 0.6
Computer Software and Technology Equipment [Member] | Affiliated Entity [Member] | Scenario, Forecast [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Additional consideration for sale of assets	$ 0.6
One of the consolidated subsidiaries (not a Fortress Fund) [Member]
Related Party Transaction [Line Items]
Fees received from related party for loan origination duties (less than $0.1 million for 2015 and 2014)				$ 0.1	$ 0.1	0.1
Senior Employee [Member]
Related Party Transaction [Line Items]
Amount outstanding				$ 7
Number of employees who received advances or loans | employee				4
Number of employees who repaid advances or loans | employee				3
Advances repaid by senior employees				$ 0.2
Senior Employee [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Amount outstanding			$ 2
Senior Employee [Member] | LIBOR [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Spread over interest rate on advances (as a percent)				4.00%	4.00%
Senior Employee [Member] | LIBOR [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Spread over interest rate on advances (as a percent)				5.00%	4.25%
Principals [Member]
Related Party Transaction [Line Items]
Compensation and other indirect expenses of personnel hired				$ 5.4	$ 3.5	3.1
Aggregate reimbursement due for personal use of certain company assets				0	0.4	0
Principal one [Member]
Related Party Transaction [Line Items]
Cost of aircraft charter charges				2.6	2.2	1.8
Principal two [Member]
Related Party Transaction [Line Items]
Cost of aircraft charter charges				$ 0.6	$ 0.6	$ 0.4

RELATED PARTY TRANSACTIONS AN75

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Affiliate Receivables and Payables) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Due from Affiliates
Management fees and incentive income	$ 174,020	$ 233,125
Expense reimbursements	78,286	82,275
Dividends and distributions	270	295
Other	21,235	10,880
Total	273,811	326,575
Allowances for uncollectible management fees	12,200	12,200
Allowances for uncollectible expense reimbursements	6,800	6,600
Due to Affiliates
Principals - tax receivable agreement - Note 6	264,625	289,324
Principals - Principal Performance Payments - Note 8	42,234	30,659
Distributions payable on Fortress Operating Group units	7,739	0
Other	4,360	11,411
General partner liability - Note 10	46,260	44,030
Total	365,218	375,424
Private Equity Funds [Member]
Due from Affiliates
Management fees and incentive income	41,706	35,970
Expense reimbursements	35,982	37,447
Dividends and distributions	0	0
Other	0	0
Total	77,688	73,417
Permanent Capital Vehicle [Member]
Due from Affiliates
Management fees and incentive income	49,578	65,043
Expense reimbursements	11,052	7,237
Dividends and distributions	270	295
Other	2,383	1,346
Total	63,283	73,921
Credit Hedge Funds [Member]
Due from Affiliates
Management fees and incentive income	55,864	96,996
Expense reimbursements	13,250	10,533
Dividends and distributions	0	0
Other	0	0
Total	69,114	107,529
Credit PE Funds [Member]
Due from Affiliates
Management fees and incentive income	20,540	18,393
Expense reimbursements	16,006	12,880
Dividends and distributions	0	0
Other	0	0
Total	36,546	31,273
Liquid Hedge Funds [Member]
Due from Affiliates
Management fees and incentive income	5,880	15,634
Expense reimbursements	1,867	14,014
Dividends and distributions	0	0
Other	0	0
Total	7,747	29,648
Logan Circle [Member]
Due from Affiliates
Management fees and incentive income	452	1,089
Expense reimbursements	129	164
Dividends and distributions	0	0
Other	0	0
Total	581	1,253
Other [Member]
Due from Affiliates
Management fees and incentive income	0	0
Expense reimbursements	0	0
Dividends and distributions	0	0
Other	18,852	9,534
Total	$ 18,852	$ 9,534

RELATED PARTY TRANSACTIONS AN76

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Advances to Senior Employees) (Details) - Senior Employee [Member] - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Amount outstanding	$ 12.6	$ 4.7
LIBOR [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Spread over interest rate on advances (as a percent)	4.00%	4.00%
LIBOR [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Spread over interest rate on advances (as a percent)	5.00%	4.25%

RELATED PARTY TRANSACTIONS AN77

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Summary of Redeemable Non-controlling Interest Activity) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) In Redeemable Noncontrolling Interest [Roll Forward]
Beginning balance				$ 1,717				$ 0	$ 1,717	$ 0
Capital contributions (distributions)									(1,711)	56,771
Consolidation of Redeemable Non-Controlling interest									0	2,179
Redeemable Non-controlling Interests in income (loss) of consolidated subsidiaries	$ 0	$ 0	$ 10	$ (16)	$ 1,176	$ (2,042)	$ 157	$ 0	(6)	(709)	$ 0
Deconsolidation of Redeemable Non-Controlling interests in income (loss)									0	(56,524)
Ending balance	$ 0				$ 1,717				$ 0	$ 1,717	$ 0

RELATED PARTY TRANSACTIONS AN78

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Balance Sheet Caption) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Fortress Operating Group units held by the Principals and a former senior employee	$ 307,539	$ 556,720
Employee interests in majority owned and controlled fund advisor and general partner entities	61,833	80,333
Other	1,747	2,303
Total	$ 371,119	$ 639,356

RELATED PARTY TRANSACTIONS AN79

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Fortress Operating Group Balance Sheet Interests) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Nov. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Fortress Operating Group equity		$ 941,804	$ 1,282,955	$ 1,614,905	$ 1,216,650
Less: Others' interests in equity of consolidated subsidiaries		(371,119)	(639,356)
Total Fortress shareholders’ equity		570,685	643,599
Equity of Fortress Operating Group units held by the Principals and a former senior employee		$ 307,539	$ 556,720
Shares owned by registrant (as a percent)		56.10%	48.00%
Class B Shares [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Common stock, shares outstanding (in shares)		169,514,478	226,331,513	249,534,372	249,534,372
Number of Fortress Operating Group units repurchased	56,800,000
Share price (in dollars per share)	$ 4.50
Value of Fortress Operating Group units repurchased	$ 255,700
Class A Shares [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Common stock, shares outstanding (in shares)		216,790,409	208,535,157	240,741,920	218,286,342
Fortress Operating Group portion of interests [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Fortress Operating Group equity		$ 764,429	$ 1,152,297
Less: Others' interests in equity of consolidated subsidiaries		(63,580)	(82,636)
Total Fortress shareholders’ equity		$ 700,849	$ 1,069,661
Fortress Operating Group units as a percent of total		43.90%	52.00%
Equity of Fortress Operating Group units held by the Principals and a former senior employee		$ 307,539	$ 556,720
Fortress Operating Group portion of interests [Member] | Class B Shares [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Common stock, shares outstanding (in shares)		169,514,478	226,331,513
Fortress Operating Group portion of interests [Member] | Class A Shares [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Common stock, shares outstanding (in shares)		216,790,409	208,535,157
Fortress Operating Group portion of interests [Member] | Class A and Class B Shares [Member]
Non Controlling Interest in the Equity of the Consolidated Subsidiary
Common stock, shares outstanding (in shares)		386,304,887	434,866,670

RELATED PARTY TRANSACTIONS AN80

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Statement of Operations Caption) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Fortress Operating Group units held by the Principals and a former senior employee									$ 102,507	$ 135,029	$ 276,683
Employee interests in majority owned and controlled fund advisor and general partner entities									843	4,657	6,456
Other									(221)	270	5
Total	$ 60,980	$ (11,727)	$ 1,653	$ 52,223	$ 79,156	$ 12,623	$ 42,100	$ 6,077	$ 103,129	$ 139,956	$ 283,144

RELATED PARTY TRANSACTIONS AN81

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Computation of Fortress Operating Group Interest) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Nov. 30, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Fortress Operating Group net income (loss)		$ 115,688	$ (25,972)	$ 4,979	$ 86,920	$ 141,000	$ 16,656	$ 73,456	$ 9,101	$ 181,615	$ 240,213	$ 483,591
Adjust:
Others' interests in net (income) loss of consolidated subsidiaries		$ (60,980)	$ 11,727	$ (1,653)	$ (52,223)	$ (79,156)	$ (12,623)	$ (42,100)	$ (6,077)	(103,129)	(139,956)	(283,144)
Fortress Operating Group net income (loss) attributable to the Principals and a former senior employee										102,507	135,029	276,683
Class B Shares [Member]
Adjust:
Number of Fortress Operating Group units repurchased	56.8
Share price (in dollars per share)	$ 4.50
Value of Fortress Operating Group units repurchased	$ 255,700
Fortress Operating Group portion of interests [Member]
Related Party Transaction [Line Items]
Fortress Operating Group net income (loss)										219,209	263,030	545,623
Adjust:
Others' interests in net (income) loss of consolidated subsidiaries										(622)	(4,927)	(6,461)
Redeemable Non-controlling interests in (income) loss of consolidated subsidiaries										6	709	0
Total Fortress shareholders' net income (loss) in Fortress Operating Group										$ 218,593	$ 258,812	$ 539,162
Fortress Operating Group as a percent of total										46.90%	52.20%	51.30%
Fortress Operating Group net income (loss) attributable to the Principals and a former senior employee										$ 102,507	$ 135,029	$ 276,683

RELATED PARTY TRANSACTIONS AN82

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED SUBSIDIARIES (Fortress's Ownership in Fortress Operating Group) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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 a former senior employee									$ 0	$ 0	$ 10,143
Increase in Fortress’s shareholders’ equity for the purchase of Fortress Operating Group units from one Principal									63,850	0	0
Increase in Fortress’s shareholders’ equity for the delivery of Class A shares primarily in connection with vested RSUs and RPUs									9,595	5,835	14,005
Increase in Fortress's shareholders' equity for the public offering of Class A shares and repurchase of Class B shares and FOGUs									0	53,510	0
Decrease in Fortress's shareholders' equity for the repurchase and cancellation of Class A shares and FOGUs									0	(101,156)	0
Change from net income attributable to Fortress and transfers (to) from Principals’ and Others' Interests									151,937	59,155	224,595
Class A Shares [Member]
Related Party Transaction [Line Items]
Net Income Attributable to Class A Shareholders	$ 54,708	$ (14,245)	$ 3,316	$ 34,713	$ 60,668	$ 6,075	$ 31,199	$ 3,024	$ 78,492	$ 100,966	$ 200,447

EQUITY-BASED AND OTHER COMPEN83

EQUITY-BASED AND OTHER COMPENSATION (Compensation and Benefits Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based compensation, per below	$ 38,407	$ 38,157	$ 39,266
Profit-sharing expense, per below	203,759	269,162	263,436
Discretionary bonuses	239,153	239,561	220,114
Other payroll, taxes and benefits	262,543	248,481	218,945
Total compensation and benefit expense	$ 743,862	$ 795,361	$ 741,761

EQUITY-BASED AND OTHER COMPEN84

EQUITY-BASED AND OTHER COMPENSATION (Equity-Based Compensation) (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employees [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	20,927,169	20,153,746	19,228,466	21,754,544
Employees [Member] | RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of delivery (no more than 6 months)	6 months
Employees [Member] | Non-Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Employees [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	6 years
Employees [Member] | Year 2 [Member] | Non-Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50.00%
Employees [Member] | Year 3 [Member] | Non-Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50.00%
Employees [Member] | Year 4 [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33.33%
Employees [Member] | Year 5 [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33.33%
Employees [Member] | Year 6 [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33.33%
Employees [Member] | Fair value at grant date expensed over service period [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	10,535,667
Employees [Member] | Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	10,391,502
Director [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Director [Member] | Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	729,348	1,045,134	955,744	828,211
Director [Member] | Fair value at grant date expensed over service period [Member] | Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	729,348
Non-Employees [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	322,278	396,874	14,500	1,246,406
Non-Employees [Member] | Fair value at grant date discounted for the non-entitlement to dividends, expensed over service period [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units Outstanding	322,278

EQUITY-BASED AND OTHER COMPEN85

EQUITY-BASED AND OTHER COMPENSATION (Estimated Forfeiture Factors) (Details)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member] | Non-Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture factors rate (as a percent)	0.00%	0.00%	0.00%
Minimum [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture factors rate (as a percent)	0.00%	0.00%	0.00%
Maximum [Member] | Non-Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture factors rate (as a percent)	38.00%	38.00%	38.00%
Maximum [Member] | Dividend Paying RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated forfeiture factors rate (as a percent)	26.00%	26.00%	26.00%

EQUITY-BASED AND OTHER COMPEN86

EQUITY-BASED AND OTHER COMPENSATION (Restricted Stock Unit Valuation Assumptions) (Details) - RSUs [Member]	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial dividend rate	4.30%	4.00%	5.00%
Dividend growth rate	6.25%	5.00%	3.64%
Risk-free discount rate	0.55%	0.28%	0.18%

EQUITY-BASED AND OTHER COMPEN87

EQUITY-BASED AND OTHER COMPENSATION (Equity-Based Compensation Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employees [Member] | RSUs [Member]
Shares
Outstanding at the beginning of the period (in shares)	20,153,746	19,228,466	21,754,544
Issued (in shares)	11,925,660	8,415,043	8,950,696
Transfers (in shares)	0	(152,313)	0
Forfeited (in shares)	(3,185,694)	(1,745,596)	(713,969)
Outstanding at the end of the period (in shares)	20,927,169	20,153,746	19,228,466
Value
Outstanding at the beginning of the period (in dollars per share)	$ 5.52	$ 4.14	$ 9.44
Issued (in dollars per share)	6.89	7.19	5.10
Transfers (in dollars per share)	0	5.09	0
Forfeited (in dollars per share)	5.51	3.87	3.72
Outstanding at the end of the period (in dollars per share)	$ 6.66	$ 5.52	$ 4.14
Employees [Member] | RSUs [Member] | Class A Shares [Member]
Shares
Converted (in shares)	(7,966,543)	(5,591,854)	(10,762,805)
Value
Converted (in dollars per share)	$ 4.59	$ 3.81	$ 12.52
Employees [Member] | RPUs [Member]
Shares
Outstanding at the beginning of the period (in shares)	0	0	10,333,334
Issued (in shares)	0	0	0
Transfers (in shares)	0	0	0
Forfeited (in shares)	0	0	0
Outstanding at the end of the period (in shares)	0	0	0
Value
Outstanding at the beginning of the period (in dollars per share)	$ 0	$ 0	$ 13.75
Issued (in dollars per share)	0	0	0
Transfers (in dollars per share)	0	0	0
Forfeited (in dollars per share)	0	0	0
Outstanding at the end of the period (in dollars per share)	$ 0	$ 0	$ 0
Employees [Member] | RPUs [Member] | Class A Shares [Member]
Shares
Converted (in shares)	0	0	(10,333,334)
Value
Converted (in dollars per share)	$ 0	$ 0	$ 13.75
Non-Employees [Member] | RSUs [Member]
Shares
Outstanding at the beginning of the period (in shares)	396,874	14,500	1,246,406
Issued (in shares)	111,540	237,498	0
Transfers (in shares)	0	152,313	0
Forfeited (in shares)	0	0	0
Outstanding at the end of the period (in shares)	322,278	396,874	14,500
Value
Outstanding at the beginning of the period (in dollars per share)	$ 6.51	$ 3.12	$ 5.51
Issued (in dollars per share)	7.61	7.18	0
Transfers (in dollars per share)	0	5.64	0
Forfeited (in dollars per share)	0	0	0
Outstanding at the end of the period (in dollars per share)	$ 6.74	$ 6.51	$ 3.12
Non-Employees [Member] | RSUs [Member] | Class A Shares [Member]
Shares
Converted (in shares)	(186,136)	(7,437)	(1,231,906)
Value
Converted (in dollars per share)	$ 6.78	$ 3.28	$ 5.53
Issued to Directors [Member] | Restricted shares [Member]
Shares
Outstanding at the beginning of the period (in shares)	1,045,134	955,744	828,211
Issued (in shares)	111,969	89,390	127,533
Transfers (in shares)	0	0	0
Forfeited (in shares)	0	0	0
Outstanding at the end of the period (in shares)	729,348	1,045,134	955,744
Value
Outstanding at the beginning of the period (in dollars per share)	$ 5.58	$ 5.41	$ 5.29
Issued (in dollars per share)	7.55	7.38	6.21
Transfers (in dollars per share)	0	0	0
Forfeited (in dollars per share)	0	0	0
Outstanding at the end of the period (in dollars per share)	$ 5.42	$ 5.58	$ 5.41
Issued to Directors [Member] | Restricted shares [Member] | Class A Shares [Member]
Shares
Converted (in shares)	(427,755)	0	0
Value
Converted (in dollars per share)	$ 6.32	$ 0	$ 0

EQUITY-BASED AND OTHER COMPEN88

EQUITY-BASED AND OTHER COMPENSATION (Equity-Based Compensation Expenses) (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 38,407	$ 38,157	$ 39,266
Unrecognized compensation expense on non-vested equity based awards	$ 79,400
Weighted average recognition period (in years)	4 years 1 month 6 days
Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 0	497	0
Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 6,406	13,307	16,396
Vesting period (in years)	3 years
RSUs [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 400	500	600
RSUs [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 30,571	$ 22,925	$ 22,869
RSUs [Member] | Employees [Member] | Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards expected to be granted on the basis of year-to-date performance (in shares)	0.5	0.5	3.2
RSUs [Member] | Non-Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 1,369	$ 1,428	$ 1
RSUs [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Restricted shares [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 61	$ 0	$ 0

EQUITY-BASED AND OTHER COMPEN89

EQUITY-BASED AND OTHER COMPENSATION (Principal Performance Payments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-Based Compensation	$ 38,407	$ 38,157	$ 39,266
Profit Sharing Expense	203,759	269,162	263,436
Liquid Hedge Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit Sharing Expense	1,229	29,347	51,886
Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-Based Compensation	6,406	13,307	16,396
Profit Sharing Expense	41,360	29,381	$ 34,613
Total	47,766	42,688
Principal Performance Payments [Member] | Private Equity Business
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-Based Compensation	385	0
Profit Sharing Expense	19,395	5,588
Total	19,780	5,588
Principal Performance Payments [Member] | Credit Business [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-Based Compensation	6,076	9,577
Profit Sharing Expense	21,965	22,202
Total	28,041	31,779
Principal Performance Payments [Member] | Liquid Hedge Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-Based Compensation	(55)	3,730
Profit Sharing Expense	0	1,591
Total	$ (55)	$ 5,321

EQUITY-BASED AND OTHER COMPEN90

EQUITY-BASED AND OTHER COMPENSATION (Profit Sharing Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	$ 203,759	$ 269,162	$ 263,436
Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	41,360	29,381	34,613
Private Equity Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	245	303	2,135
Permanent Capital Vehicle [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	5,455	13,221	10,690
Credit Hedge Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	35,802	59,819	95,229
Credit PE Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	119,668	137,091	68,883
Liquid Hedge Funds [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	1,229	29,347	$ 51,886
Liquid Hedge Funds [Member] | Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit sharing expense	$ 0	$ 1,591

EQUITY-BASED AND OTHER COMPEN91

EQUITY-BASED AND OTHER COMPENSATION (Narrative) (Details) - USD ($)	1 Months Ended	2 Months Ended	12 Months Ended
	Aug. 31, 2011	Feb. 25, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			$ 38,407,000	$ 38,157,000	$ 39,266,000
Expected future benefit payments in next twelve months			$ 5,000,000
Defined contribution plan, cost recognized				4,800,000	4,200,000
Principal Performance Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Percentage of incentive income earned to be paid to principals on existing AUM			20.00%
Percent of fund management distributable earnings for new flagship hedge fund AUM			20.00%
Maximum percentage of principal performance payments payable in cash			10.00%
Percentage of after tax cash portion of principal performance payments subject to mandatory investment			50.00%
Equity-based compensation			$ 6,406,000	13,307,000	16,396,000
Principal Performance Payments [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fund management distributable earnings to be paid			10.00%
Principal Performance Payments [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fund management distributable earnings to be paid			20.00%
Principal Performance Payments [Member] | Permanent Capital Vehicle [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of fund management distributable earnings above a threshold			20.00%
Principals [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Principals extended employment term	5 years
Annual compensation			$ 200,000
RSUs with service conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Change in RSU expense due to changes in the estimated forfeiture rates				2,200,000	1,200,000
Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance			181,593,848
Equity-based compensation			$ 0	$ 497,000	$ 0
Subsequent Event [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		2,100,000
Vesting period (in years)		3 years

EARNINGS PER SHARE AND DISTRI92

EARNINGS PER SHARE AND DISTRIBUTIONS (Computations of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted average shares outstanding
Class A shares outstanding									212,464,539	207,907,352	233,117,423
Fully vested restricted Class A share units with dividend equivalent rights									3,272,595	1,379,649	2,207,612
Restricted Class A shares									766,420	1,016,240	921,261
Total weighted average shares outstanding	217,587,096	216,439,077	216,183,181	215,785,776	208,607,680	208,014,692	207,783,751	216,934,917	216,503,554	210,303,241	236,246,296
Basic net income (loss) per Class A share
Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units									$ (3,415)	$ (1,296)	$ (3,365)
Net income available to Class A shareholders									$ 75,077	$ 99,670	$ 197,082
Total weighted average shares outstanding	217,587,096	216,439,077	216,183,181	215,785,776	208,607,680	208,014,692	207,783,751	216,934,917	216,503,554	210,303,241	236,246,296
Basic net income (loss) per Class A share (in dollars per share)	$ 0.24	$ (0.07)	$ 0.01	$ 0.15	$ 0.28	$ 0.03	$ 0.15	$ 0.01	$ 0.35	$ 0.47	$ 0.83
Weighted average shares outstanding
Class A shares outstanding									212,464,539	207,907,352	233,117,423
Fully vested restricted Class A share units with dividend equivalent rights									3,272,595	1,379,649	2,207,612
Restricted Class A shares									766,420	1,016,240	921,261
Fortress Operating Group units and fully vested RPUs exchangeable into Class A shares									220,416,315	231,162,793	251,969,075
Class A restricted shares and Class A restricted share units granted to employees and directors (eligible for dividend and dividend equivalent payments)										4,670,736	2,318,202
Class A restricted share units granted to employees (not eligible for dividend and dividend equivalent payments)									5,766,905	9,017,366	10,097,850
Weighted average shares outstanding	425,302,366	216,439,077	449,210,362	221,535,189	449,618,855	220,792,711	444,566,847	229,033,778	442,686,774	455,154,136	500,631,423
Diluted net income (loss) per Class A share
Dividend equivalents declared on, and undistributed earnings allocated to, non-vested restricted Class A shares and restricted Class A share units									$ (3,415)	$ (1,296)	$ (3,365)
Add back Principals’ and others’ interests in loss of Fortress 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									49,545	97,751	196,272
Net income available to Class A shareholders									$ 124,622	$ 197,421	$ 393,354
Weighted average shares outstanding	425,302,366	216,439,077	449,210,362	221,535,189	449,618,855	220,792,711	444,566,847	229,033,778	442,686,774	455,154,136	500,631,423
Diluted net income (loss) per Class A share (in dollars per share)	$ 0.20	$ (0.07)	$ 0	$ 0.15	$ 0.23	$ 0.02	$ 0.12	$ 0.01	$ 0.28	$ 0.43	$ 0.79
Weighted average restricted Class A share units									12,139,050	13,310,978	15,321,401
Number of FOG units, along with each class B share, which are exchangeable for one Class A share	1								1
Number of Class A shares for which each Fortress Operating Group unit may be exchanged	1								1
Class A Shares [Member]
Weighted average shares outstanding
Class A shares outstanding										207,907,352
Basic net income (loss) per Class A share
Net Income Attributable to Class A Shareholders	$ 54,708	$ (14,245)	$ 3,316	$ 34,713	$ 60,668	$ 6,075	$ 31,199	$ 3,024	$ 78,492	$ 100,966	$ 200,447
Weighted average shares outstanding
Class A shares outstanding										207,907,352
Diluted net income (loss) per Class A share
Net Income Attributable to Class A Shareholders	$ 54,708	$ (14,245)	$ 3,316	$ 34,713	$ 60,668	$ 6,075	$ 31,199	$ 3,024	$ 78,492	$ 100,966	$ 200,447

EARNINGS PER SHARE AND DISTRI93

EARNINGS PER SHARE AND DISTRIBUTIONS (Narrative) (Details)	Feb. 13, 2014USD ($)shares	Nov. 30, 2015USD ($)$ / sharesshares	Mar. 31, 2014USD ($)shares	Feb. 25, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015$ / shares	Jun. 30, 2015$ / shares	Mar. 31, 2015$ / shares	Dec. 31, 2014USD ($)$ / shares	Sep. 30, 2014$ / shares	Jun. 30, 2014$ / shares	Mar. 31, 2014$ / shares	Dec. 31, 2013$ / shares	Sep. 30, 2013$ / shares	Jun. 30, 2013$ / shares	Mar. 31, 2013$ / shares	Dec. 31, 2015USD ($)category$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)principalshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of general categories of potentially dilutive equity instruments | category																	2
Number of FOG units, along with each class B share, which are exchangeable for one Class A share					1												1
Number of Class A shares for which each Fortress Operating Group unit may be exchanged					1												1
Payment of statutory withholding tax on behalf of employees | $																		$ 3,600,000
Restricted Stock Units exchanged for Class A shares (in shares)																		1,100,000
Accrued fee liability | $					$ 20,324,000				$ 30,000,000								$ 20,324,000	$ 30,000,000
Number of principals contributing Class A shares to charitable organizations | principal																			2
Number of Class A shares contributed by principals to charitable organizations																			1,859,283
Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, net of employees' income tax withholding obligations																		500,000
Shares issued during period																		23,202,859
Payments for repurchase of common shares | $																	$ 9,676,000	$ 363,410,000	$ 0
Cash dividend declared (in dollars per share) | $ / shares					$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.06	$ 0.06	$ 0.06
Base cash dividend declared (in dollars per share) | $ / shares											0.08
Special cash dividend declared (in dollars per share) | $ / shares					$ 0.30						$ 0.18						$ 0.30
Class A Shares [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period			23,202,859
Proceeds from the issuance of common shares | $			$ 186,600,000
Class B Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Fortress Operating Group units repurchased		56,800,000
Share price (in dollars per share) | $ / shares		$ 4.50
Value of Fortress Operating Group units repurchased | $		$ 255,700,000
Payments for repurchase of common shares | $																	$ 100,000,000	$ 186,551,000	$ 0
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment of statutory withholding tax on behalf of employees | $				$ 6,500,000
Restricted Stock Units exchanged for Class A shares (in shares)				3,800,000
Subsequent Event [Member] | Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, net of employees' income tax withholding obligations				2,100,000
Nomura [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of Common Stock	60,568,275
Payments for repurchase of common shares | $	$ 363,400,000
Contingent consideration liability | $	12,000,000
Accrued fee liability | $	$ 30,000,000
Payment of contingent liabilities | $																	$ 9,700,000
Fortress Operating Group unit holders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of FOG units and Class B shares exchanged for equal number of Class A shares																			10,333,334
Principals [Member] | Subsequent Event [Member] | Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, net of employees' income tax withholding obligations				1,600,000
Former Principal [Member] | Subsequent Event [Member] | Class A Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, net of employees' income tax withholding obligations				600,000
February 2016 Dutch Auction [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount | $				$ 100,000,000
Minimum [Member] | February 2016 Dutch Auction [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares				$ 4.25
Maximum [Member] | February 2016 Dutch Auction [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares				$ 4.75

EARNINGS PER SHARE AND DISTRI94

EARNINGS PER SHARE AND DISTRIBUTIONS (Dividend Paying Shares and Units) (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividend paying shares and units
Weighted average dividend paying shares and units	446,943,430	448,483,081	493,098,557
Dividend paying shares and units	396,840,554	442,062,960
Fortress Operating Group units (Principals and one senior employee) [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	220,416,315	231,162,793	249,534,372
Dividend paying shares and units	169,514,478	226,331,513
Restricted Class A shares (directors) [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	766,420	1,016,240	921,261
Dividend paying shares and units	729,348	1,045,134
Restricted Class A share units fully vested (employees) [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	3,272,595	1,379,649	2,207,612
Dividend paying shares and units	1,360,960	194,287
Restricted Class A share units nonvested (employees) [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	10,023,561	7,017,047	4,883,186
Dividend paying shares and units	9,174,707	7,002,003
Fortress Operating Group RPUs (one senior employee) [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	0	0	2,434,703
Dividend paying shares and units	0	0
Class A Shares [Member]
Dividend paying shares and units
Weighted average dividend paying shares and units	212,464,539	207,907,352	233,117,423
Dividend paying shares and units	216,061,061	207,490,023

EARNINGS PER SHARE AND DISTRI95

EARNINGS PER SHARE AND DISTRIBUTIONS (Dividends and Distributions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends and distributions
Declared in Prior Year, Paid Current Year	$ 0	$ 5,160	$ 31,997
Declared and Paid, Declared in Current Year	315,048	242,608	130,622
Declared but not yet Paid, Declared in Current Year	7,872	0	5,160
Total	322,920	242,608	135,782
Fortress Operating Group unit holders [Member]
Dividends and distributions
Declared in Prior Year, Paid Current Year	0	5,160	30,725
Declared and Paid, Declared in Current Year	174,275	136,748	72,295
Declared but not yet Paid, Declared in Current Year	7,739	0	5,160
Total	182,014	136,748	77,455
Restricted Class A share units [Member]
Dividends and distributions
Declared in Prior Year, Paid Current Year	0	0	0
Declared and Paid, Declared in Current Year	9,754	3,996	1,652
Declared but not yet Paid, Declared in Current Year	133	0	0
Total	9,887	3,996	1,652
Fortress Operating Group RPU holders [Member]
Dividends and distributions
Declared in Prior Year, Paid Current Year			1,272
Declared and Paid, Declared in Current Year			401
Declared but not yet Paid, Declared in Current Year			0
Total			401
Class A Shares [Member]
Dividends and distributions
Declared in Prior Year, Paid Current Year	0	0	0
Declared and Paid, Declared in Current Year	131,019	101,864	56,274
Declared but not yet Paid, Declared in Current Year	0	0	0
Total	$ 131,019	$ 101,864	$ 56,274

COMMITMENTS AND CONTINGENCIES96

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
General Partner Liability
Amount of negative equity recorded	$ 46.3	$ 44
Private Equity Fund and Credit PE Fund Capital Commitments
Aggregate remaining capital commitments to certain of the Fortress Funds	153.7
General, Administrative, and Other Expense [Member]
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Rent expense, including operating expense escalations	29.6	$ 23.7	$ 23.6
Lease related charges for subleasing its office at a loss	$ 0.5		$ 0.8

COMMITMENTS AND CONTINGENCIES97

COMMITMENTS AND CONTINGENCIES (Major Lease Terms) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
New York Leases [Member]
Operating Leased Assets [Line Items]
Leasehold improvement incentives	$ 12,499
New York Leases [Member] | Minimum [Member]
Operating Leased Assets [Line Items]
Free rent periods	5 months
New York Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Free rent periods	12 months
Renewal periods	5 years
Other Leases [Member]
Operating Leased Assets [Line Items]
Leasehold improvement incentives	$ 2,903
Other Leases [Member] | Minimum [Member]
Operating Leased Assets [Line Items]
Free rent periods	1 month
Other Leases [Member] | Maximum [Member]
Operating Leased Assets [Line Items]
Free rent periods	16 months 15 days
Renewal periods	5 years

COMMITMENTS AND CONTINGENCIES98

COMMITMENTS AND CONTINGENCIES (Minimum Future Rental Payments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 26,549
2,017	17,121
2,018	24,200
2,019	22,749
2,020	21,614
Thereafter	265,755
Total	$ 377,988

SEGMENT REPORTING (Clawback Res

SEGMENT REPORTING (Clawback Reserve on Incentive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net Intrinsic Clawback	$ 45,108
Clawback Reserve on Incentive Income for Distributable Earning Purposes [Roll Forward]
Prior Year End Inception-to-Date Net DE Reserve	45,108
Current Year-to-Date Gross DE Reserve (Reversal)	0	$ (1,999)	$ (7,397)
Current Year-to-Date Net DE Reserve (Reversal)	0
Inception-to-Date Net DE Reserve	45,108	45,108
Fund III [Member]
Segment Reporting Information [Line Items]
Net Intrinsic Clawback	$ 45,108
Periods in Intrinsic Clawback	96 months
Clawback Reserve on Incentive Income for Distributable Earning Purposes [Roll Forward]
Prior Year End Inception-to-Date Net DE Reserve	$ 45,108
Current Year-to-Date Gross DE Reserve (Reversal)	0
Current Year-to-Date Net DE Reserve (Reversal)	0
Inception-to-Date Net DE Reserve	$ 45,108	$ 45,108

SEGMENT REPORTING (Narrative) (

SEGMENT REPORTING (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Impairment on direct and indirect investments	$ 6,301	$ 2,701	$ 1,117
Digital currency impairment charge	2,800
Unrealized losses on certain investments that have not been recorded as impairment for DE purposes	4,300
Unrealized gains on investments	484,700
Amount of net reversal of clawback reserve for DE purpose	0
Gross undistributed incentive income	965,300
Deferred incentive income undistributed net of intrinsic clawback	898,358	$ 868,549	$ 696,333
Permanent Capital Vehicle [Member]
Segment Reporting Information [Line Items]
Gross additional distributable earnings on exercise of in money options	20,500
Net additional distributable earnings on exercise of in money options	$ 18,100

SEGMENT REPORTING (Segment Resu

SEGMENT REPORTING (Segment Results of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment revenues
Management fees	$ 581,887	$ 600,914	$ 539,646
Incentive income	436,313	460,704	492,995
Segment revenues - total	1,018,200	1,061,618	1,032,641
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	397,271
Fund management distributable earnings (loss) before Principal Performance Payments (B)	405,863	369,307	438,083
Fund management distributable earnings (loss)	364,079	340,349	403,471
Pre-tax distributable earnings (loss)	390,825	446,058	434,386
Total segment assets	2,300,877	2,526,758
Deferred tax asset, net	427,102	417,623
Operating Segments [Member] | Private Equity Funds [Member]
Segment revenues
Management fees	115,627	136,110	134,176
Incentive income	691	2,854	13,211
Segment revenues - total	116,318	138,964	147,387
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	71,850
Fund management distributable earnings (loss) before Principal Performance Payments (B)	71,850	88,081	95,547
Fund management distributable earnings (loss)	71,850	88,081	95,547
Pre-tax distributable earnings (loss)	72,146	183,078	109,089
Total segment assets	709,677	763,115
Operating Segments [Member] | Permanent Capital Vehicle [Member]
Segment revenues
Management fees	96,263	69,360	61,200
Incentive income	105,603	65,448	18,101
Segment revenues - total	201,866	134,808	79,301
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	122,103
Fund management distributable earnings (loss) before Principal Performance Payments (B)	122,103	44,577	32,235
Fund management distributable earnings (loss)	102,708	38,990	29,834
Pre-tax distributable earnings (loss)	104,529	40,976	31,319
Total segment assets	121,986	173,627
Operating Segments [Member] | Credit Hedge Funds [Member]
Segment revenues
Management fees	134,054	113,825	101,890
Incentive income	84,588	121,768	190,846
Segment revenues - total	218,642	235,593	292,736
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	98,252
Fund management distributable earnings (loss) before Principal Performance Payments (B)	98,252	106,346	139,339
Fund management distributable earnings (loss)	82,873	87,244	120,863
Pre-tax distributable earnings (loss)	84,934	85,988	127,450
Total segment assets	118,993	143,428
Operating Segments [Member] | Credit PE Funds [Member]
Segment revenues
Management fees	117,740	96,715	95,925
Incentive income	244,308	254,461	120,137
Segment revenues - total	362,048	351,176	216,062
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	125,635
Fund management distributable earnings (loss) before Principal Performance Payments (B)	125,635	111,442	57,299
Fund management distributable earnings (loss)	118,625	108,765	56,112
Pre-tax distributable earnings (loss)	139,327	121,669	63,766
Total segment assets	277,038	277,907
Operating Segments [Member] | Liquid Hedge Funds [Member]
Segment revenues
Management fees	64,208	137,908	110,622
Incentive income	912	16,067	150,700
Segment revenues - total	65,120	153,975	261,322
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	(19,406)
Fund management distributable earnings (loss) before Principal Performance Payments (B)	(10,814)	25,443	125,482
Fund management distributable earnings (loss)	(10,814)	23,851	112,934
Pre-tax distributable earnings (loss)	(3,410)	22,371	116,488
Total segment assets	169,119	235,409
Operating Segments [Member] | Logan Circle [Member]
Segment revenues
Management fees	53,995	46,996	35,833
Incentive income	211	106	0
Segment revenues - total	54,206	47,102	35,833
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	(1,163)
Fund management distributable earnings (loss) before Principal Performance Payments (B)	(1,163)	(6,582)	(11,819)
Fund management distributable earnings (loss)	(1,163)	(6,582)	(11,819)
Pre-tax distributable earnings (loss)	(2,120)	(5,267)	(8,542)
Total segment assets	51,928	63,413
Unallocated [Member]
Segment revenues
Management fees	0	0	0
Incentive income	0	0	0
Segment revenues - total	0	0	0
Fund management distributable earnings (loss) before earnings from Affiliated Managers and Principal Performance Payments (B)	0
Fund management distributable earnings (loss) before Principal Performance Payments (B)	0	0	0
Fund management distributable earnings (loss)	0	0	0
Pre-tax distributable earnings (loss)	(4,581)	(2,757)	$ (5,184)
Total segment assets	852,136	869,859
Cash	334,400	382,200
Deferred tax asset, net	$ 427,102	$ 417,600

SEGMENT REPORTING (Reconciling

SEGMENT REPORTING (Reconciling Items Between Segment Measures and GAAP Measures) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciling items between segment measures and GAAP measures:
Fund management distributable earnings									$ 364,079	$ 340,349	$ 403,471
Investment income (loss)									31,026	108,914	36,082
Interest expense									(4,280)	(3,205)	(5,167)
Pre-tax distributable earnings									390,825	446,058	434,386
Adjust incentive income
Incentive income received from private equity funds and credit PE funds, subject to contingent repayment									(245,447)	(255,533)	(126,479)
Incentive income received from third parties, subject to contingent repayment									(4,299)	(652)	(264)
Incentive income accrued from private equity funds and credit PE funds, not subject to contingent repayment									219,032	171,387	107,276
Incentive income from third parties, not subject to contingent repayment									3,524	0	0
Incentive income received related to the exercise of options									(57,999)	(8,735)	(1,921)
Reserve for clawback, gross (see discussion above)									0	(1,999)	(7,397)
Adjust incentive income									(85,189)	(95,532)	(28,785)
Adjust other income
Distributions of earnings from equity method investees									(34,852)	(71,810)	(15,316)
Earnings (losses) from equity method investees									(46,255)	68,452	124,401
Gains (losses) on options in equity method investees									(5,888)	(29,913)	25,295
Gains (losses) on other investments									(6,900)	(14,069)	14,774
Impairment of investments (see discussion above)									6,301	2,701	1,117
Adjust income from the receipt of options									25,158	6,310	42,516
Adjust other income									71,964	(38,329)	192,787
Adjust employee, Principal and director compensation
Adjust employee, Principal and director equity-based compensation expense (including Castle options assigned)									(34,260)	(30,610)	(45,947)
Adjust employee portion of incentive income from private equity funds accrued prior to the realization of incentive income									1,711	(5,550)	(790)
Adjust employee, Principal and director compensation									(32,549)	(36,160)	(46,737)
Adjust for the transfer of interest in Graticule (see Note 1)									(101,000)	0	0
Adjust amortization of intangible assets and impairment of goodwill and intangible assets									(1,261)	(81)	(46)
Adjust non-controlling interests related to Fortress Operating Group units									(102,507)	(135,029)	(276,683)
Tax receivable agreement liability adjustment									(6,141)	(33,116)	(8,787)
Adjust income taxes									(55,650)	(6,845)	(65,688)
Total adjustments									(312,333)	(345,092)	(233,939)
Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries	$ 60,980	$ (11,727)	$ 1,653	$ 52,223	$ 79,156	$ 12,623	$ 42,100	$ 6,077	103,129	139,956	283,144
Redeemable Non-controlling Interests in income (loss) of consolidated subsidiaries	0	0	10	(16)	1,176	(2,042)	157	0	(6)	(709)	0
Net income	115,688	(25,972)	4,979	86,920	141,000	16,656	73,456	9,101	181,615	240,213	483,591
Incentive income received from third parties not subject to contingent repayment and included in segment incentive income									5,200	900	0
Class A Shares [Member]
Adjust employee, Principal and director compensation
Net Income Attributable to Class A Shareholders	$ 54,708	$ (14,245)	$ 3,316	$ 34,713	$ 60,668	$ 6,075	$ 31,199	$ 3,024	78,492	100,966	200,447
Graticule Asset Management [Member]
Adjust other income
Net realized gains (losses) from affiliate investments									$ 134,400	$ 0	$ 0

SEGMENT REPORTING (Reconcili103

SEGMENT REPORTING (Reconciling Items Between Segment Measures and GAAP Measures - Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Total segment assets	$ 2,300,877	$ 2,526,758
Adjust equity investments from segment carrying amount	(11,323)	(37,169)
Adjust investments gross of employees' and others' portion	9,825	35,632
Adjust intangible assets to cost	(24,098)	(22,837)
Total Assets	$ 2,275,281	$ 2,502,384

SEGMENT REPORTING (Reconcili104

SEGMENT REPORTING (Reconciling Items Between Segment Measures and GAAP Measures - Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment revenues
Segment revenues									$ 1,018,200	$ 1,061,618	$ 1,032,641
Adjust management fees									(456)	1,324	917
Adjust incentive income									(90,448)	(96,392)	(28,785)
Adjust income from the receipt of options									25,158	6,310	42,516
Adjust other revenues (including expense reimbursements)									261,402	232,720	217,694
Total Revenues	$ 414,660	$ 264,019	$ 308,488	$ 226,689	$ 454,946	$ 243,180	$ 270,344	$ 237,110	1,213,856	1,205,580	1,264,983
Incentive income from third parties, not subject to contingent repayment									$ 3,524	$ 0	$ 0

SEGMENT REPORTING (Depreciation

SEGMENT REPORTING (Depreciation and Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Depreciation	$ 37,982	$ 19,748	$ 13,644
Amortization	1,261	81	46
Total	39,243	19,829	13,690
Operating Segments [Member] | Private Equity Funds [Member]
Segment Reporting Information [Line Items]
Depreciation	1,619	1,585	1,525
Amortization	0	0	0
Total	1,619	1,585	1,525
Operating Segments [Member] | Permanent Capital Vehicle [Member]
Segment Reporting Information [Line Items]
Depreciation	1,570	851	606
Amortization	0	0	0
Total	1,570	851	606
Operating Segments [Member] | Credit Hedge Funds [Member]
Segment Reporting Information [Line Items]
Depreciation	5,383	5,462	5,557
Amortization	930	0	0
Total	6,313	5,462	5,557
Operating Segments [Member] | Credit PE Funds [Member]
Segment Reporting Information [Line Items]
Depreciation	1,531	1,125	422
Amortization	0	0	0
Total	1,531	1,125	422
Operating Segments [Member] | Liquid Hedge Funds [Member]
Segment Reporting Information [Line Items]
Depreciation	24,705	7,436	2,223
Amortization	0	0	0
Total	24,705	7,436	2,223
Operating Segments [Member] | Liquid Hedge Funds [Member] | Computer Software and Technology Equipment [Member]
Segment Reporting Information [Line Items]
Write-off of impairment	18,200
Operating Segments [Member] | Logan Circle [Member]
Segment Reporting Information [Line Items]
Depreciation	503	334	271
Amortization	331	81	46
Total	834	415	317
Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation	2,671	2,955	3,040
Amortization	0	0	0
Total	$ 2,671	$ 2,955	$ 3,040

QUARTERLY FINANCIAL INFORMAT106

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 414,660	$ 264,019	$ 308,488	$ 226,689	$ 454,946	$ 243,180	$ 270,344	$ 237,110	$ 1,213,856	$ 1,205,580	$ 1,264,983
Total expenses	241,805	223,934	258,100	329,039	309,653	234,475	216,284	231,334	1,052,878	991,746	897,603
Total other income (loss)	(18,163)	(62,473)	(50,608)	207,669	(14,280)	10,975	27,312	9,319	76,425	33,326	182,012
Income Before Income Taxes	154,692	(22,388)	(220)	105,319	131,013	19,680	81,372	15,095	237,403	247,160	549,392
Income tax expense	(39,004)	(3,584)	5,199	(18,399)	9,987	(3,024)	(7,916)	(5,994)	(55,788)	(6,947)	(65,801)
Net Income (Loss)	115,688	(25,972)	4,979	86,920	141,000	16,656	73,456	9,101	181,615	240,213	483,591
Principals’ and Others’ Interests in Income (Loss) of Consolidated Subsidiaries	60,980	(11,727)	1,653	52,223	79,156	12,623	42,100	6,077	103,129	139,956	283,144
Redeemable Non-controlling Interests in income (loss) of consolidated subsidiaries	0	0	10	(16)	1,176	(2,042)	157	0	(6)	(709)	0
Net income	$ 115,688	$ (25,972)	$ 4,979	$ 86,920	$ 141,000	$ 16,656	$ 73,456	$ 9,101	$ 181,615	$ 240,213	$ 483,591
Net income (loss) per Class A share, basic (in dollars per share)	$ 0.24	$ (0.07)	$ 0.01	$ 0.15	$ 0.28	$ 0.03	$ 0.15	$ 0.01	$ 0.35	$ 0.47	$ 0.83
Net income (loss) per Class A share, diluted (in dollars per share)	$ 0.20	$ (0.07)	$ 0	$ 0.15	$ 0.23	$ 0.02	$ 0.12	$ 0.01	$ 0.28	$ 0.43	$ 0.79
Weighted average number of Class A shares outstanding, basic (in shares)	217,587,096	216,439,077	216,183,181	215,785,776	208,607,680	208,014,692	207,783,751	216,934,917	216,503,554	210,303,241	236,246,296
Weighted average number of Class A shares outstanding, diluted (in shares)	425,302,366	216,439,077	449,210,362	221,535,189	449,618,855	220,792,711	444,566,847	229,033,778	442,686,774	455,154,136	500,631,423
Class A Shares [Member]
Condensed Income Statements, Captions [Line Items]
Net Income (Loss) Attributable to Class A Shareholders	$ 54,708	$ (14,245)	$ 3,316	$ 34,713	$ 60,668	$ 6,075	$ 31,199	$ 3,024	$ 78,492	$ 100,966	$ 200,447