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Fortress’ $5 Billion Buyout Loss Haunts Edens as Black Has Gain

Fortress Investment Group LLC has $5 billion in unrealized losses from private-equity funds started since 2005, the beginning of a two-year buyout boom, more than its largest New York rivals combined.

Blackstone Group LP, the biggest private-equity firm, had an unrealized loss of $861 million in the period and KKR & Co.’s buyout funds are down $708 million, according to regulatory filings in the past six weeks. Funds at Leon Black’s Apollo Global Management LLC posted a profit.