Chase Capital Partners, the private equity arm of Chase Manhattan Corp., announced two new investments last week.

It invested, along with the New York-based private equity group GarMark Partners, $110 million in subordinated notes and preferred stock in FHC Health Systems. FHC will use the capital to acquire a spinoff from Columbia/HCA Healthcare Corp.

The troubled Nashville-based health management organization is spinning off Value Behavioral Health, a managed behavioral health care company. FHC already operates a behavioral facility for troubled children.

Separately, Chase announced the acquisition, along with private equity firm Concord Investment Partners, of two processors and distributors of smoked seafood products.

The companies-Homarus Inc., Mount Kisco, N.Y., and Marshall Smoked Fish Co., Brooklyn, N.Y.-are part of Concord's strategy of building up a seafood company through leveraged buyouts.

Compiled by J. Alex Tarquinio

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