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Neways Enterprises, Utah-based maker of dietary supplements and personal care products, has completed an out-of-court restructuring to reduce its debt, the company announced. As a result of the transaction, private equity firm Z Capital Partners and funds affiliated with S.A.C. Capital Advisors will own a majority of Neways. Golden Gate Capital will maintain an equity stake, the company said. Terms of the deal were not released.
HealthCor Partners Management, an investor in fast-growing health care and life sciences companies, is out seeking $300 million—a tally that would double the firm’s assets under management if achieved. The New York-based firm is part of the HealthCor Group, a hedge-fund manager and private equity shop with more than $3 billion under management. According to [...]
Siris Capital Group, the buyout firm that spun out of SAC Capital Advisors early this year, is raising its first fund without help from the hedge fund’s controversial leader Steven Cohen (pictured), Buyouts reported earlier today, citing three sources. Cohen offered to back away from the firm’s efforts some time in the spring, when he [...]
The PE arm of SAC Capital Advisors is spinning off.
Siris Capital, the name of the new group, is looking to raise $400 million, a source says. The fund will focus on healthcare, tech and telecom, the person says.
SAC Capital is the $12 billion hedge fund run by Steven Cohen. Cohen is reportedly helping support the debut vehicle, Siris Partners II LP, said Dow Jones, which first reported the spin out.
Frank Baker, Peter Berger and Jeffrey Hendren, who will lead Siris, previously worked at Ripplewood Holdings before joining SAC Capital in 2007, Bloomberg says.
Officials for SAC Capital declined comment.