Friday, 27 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…