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  • Daughters of Charity Health System closes deal with hedge fund

    12/15/2015 2:00:52 PM PST · by Citizen Zed · 2 replies
    Mercury News ^ | 12-15-2015 | Tracy Seipel
    Ending almost two years in limbo, the financially beleaguered Daughters of Charity Health System on Monday announced it has closed a $260 million investment deal with an East Coast hedge fund that will keep one of the Bay Area's oldest hospital chains afloat for at least three more years. The news came 11 days after California Attorney General Kamala Harris gave her conditional approval for the largest nonprofit hospital transaction in state history, and the first to involve a hedge fund. Unlike the controversy and staunch opposition generated by the hospitals' previous suitor, the deal with BlueMountain Capital Management registered...