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: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note