Monday, 27 April 2015
Last updated 2 hours ago
Feb 28 2011 | 11:57am ET
SAC Capital Advisors' private-equity unit is primed for a spin-off.
The division's heads have founded a new firm, Siris Capital, with plans to begin raising their independent debut fund. Siris will focus on technology, telecommunications and healthcare investments, although areas outside of this comfort zone will not be ruled out.
The new firm, backed by SAC's Steven Cohen, hopes to raise $400 million for its Siris Partners II, The Wall Street Journal reports. How much of that will come from Cohen is unclear.
Cohen has personally backed the deals made by SAC's private equity arm, led by Frank Baker, Peter Berger and Jeffrey Hendren, since they joined the firm in 2007. Prior to that, they spent 10 years at p.e. shop Ripplewood Holdings.
The three men joined SAC as a first step towards launching their own firm, according to the Journal.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…