Shift for SAC's Cohen

Hedge fund magnate Steve Cohen is now dabbling in private equity.

In a somewhat surprising move, Cohen's $12 billion SAC Capital Partners behemoth is stepping up to the plate to help finance a $3.1 billion management-led buyout of Laureate Education (LAUR Quote). The Connecticut-based hedge fund is part of a group of investors taking the higher education company private in a deal led by Laureate CEO Douglas Becker, Kohlberg Kravis Roberts and Citigroup's(C Quote) private equity arm.

There's nothing surprising in finding a private equity giant such as KKR heading up another leveraged buyout. But it's not every day that Steve Cohen gets involved in an LBO. ...