UPDATE: Jefferies Color On FIG 4Q Preview

Jefferies, which updated its PT on shares of Fortress Investment Group LLC (NYSE: FIG).

The fund raising environment for the PE industry is slowly gathering momentum. Over the course of 2010, Fortress raised approx. $5B across nearly 180 investors, of which approx. 35% were new to Fortress and 25% came from international investors. The firm is also currently out raising a handful of more specialized funds.

Jefferies is increasing its EPS for 4Q10 from $0.11 to $0.15.

Fortress Investment Group LLC closed Friday at $6.60.