Fortress sees quarterly loss on market woes

BOSTON (MarketWatch) — Fortress Investment Group Thursday reported a quarterly loss of $68.9 million, or 74 cents a share, versus net income of $62.1 million in the same quarter the prior year. The company, which manages $34.2 billion of assets in private equity funds and hedge funds, said total revenue slipped to $200.9 million from $416.3 million. In the first quarter, Fortress raised $2.6 billion of total capital, or $1.9 billion net capital raised. Since the end of the first quarter, it has raised an additional $1.8 billion of total capital, bringing its year-to-date total capital raised to $4.4 billion, or $3.5 billion net capital raised.
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