SAC Capital to Spin Off Private-Equity Group Siris Capital
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SAC Capital Advisors LP, the $12 billion hedge fund run by Steven A. Cohen, is spinning off its private-equity group, according to a person with knowledge of the plan.
The group, called Siris Capital, hopes to raise $400 million for a buyout fund that will focus on deals in the technology, telecommunications and health-care industries, said the person, who asked not to be identified because the information is private.