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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note