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Avenue Capital drops nearly $6 billion

New fundraising has not replaced the assets withdrawn from a private equity vehicle that began returning capital last year.

Marc LasryAssets at Marc Lasry’s Avenue Capital Group have dipped to $12.3 billion as of July 1 from $18 billion in January as the firm has been liquidating the Avenue Special Situations Fund V, a private equity vehicle that was launched in 2007. Investors said Lasry thought there was no

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