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

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

AIMA: How The U.K.'s SMCR Will Affect U.S. Firms

Jun 20 2017 | 6:29pm ET

U.S. investment managers need to think seriously about how tough new U.K. conduct...

 
Error

From the current issue of