Ex-Fortress Healthcare Managers Net $150M Seed Investment From Orix

Sep 20 2011 | 2:27pm ET

Orix Corp.'s new U.S. hedge fund business is expanding into private equity.

Orix USA Asset Management, set up earlier this year following Orix's acquisiton of Mariner Investment Group last year, has agreed to seed a new p.e. fund founded by a pair of Fortress Investment Group veterans. Orix will provide $150 million to New Health Capital Partners, it said.

The new private equity fund will be run by Richard Baxter and Aron Dantzig, who founded New York-based New Health last year. Orix will receive a stake in their management company in exchange for the seed investment.

"Partnering with Aron and Rich and their team gives Orix USA Asset Management a unique opportunity to invest in the healthcare and life sciences sectors and further highlights our commitment to the global asset-management industry," CEO Michael Blum, who joined Orix from Merrill Lynch two years ago, said.

New Health will focus on structured financing as well as buying majority stakes in healthcare companies.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of