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Investors Pull $800 Million From Fortress Fund

WSJ – Investors asked to withdraw nearly $800 million from Fortress Investment Group LLC’s flagship hedge fund over the past few months, a new setback for the closely followed manager Michael Novogratz.

The redemption tally, disclosed during Fortress’ fourth-quarter earnings call Thursday, amounts to about one-quarter of the $3.2 billion in assets under management the fund had at the start of the year. It comes after Mr. Novogratz said in October he had received “de minimis redemption notices” at the time.

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