Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

SAC Capital to Spin Off Private-Equity Group Siris Capital

Feb. 28 (Bloomberg) -- 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.

Siris is led by Frank Baker, Peter Berger and Jeffrey Hendren, who all previously worked at private-equity firm Ripplewood Holdings LLC in New York before joining SAC Capital in 2007.

A spokesman for Stamford, Connecticut-based SAC Capital declined to comment. The move was reported earlier today by Dow Jones Newswires.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.