Cerberus Capital Management, a firm known for its intense secrecy, has quietly launched a website, www.cerberuscapital.com.
Earlier this month, when Cerberus emerged the victor in the battle for control of General Motors Acceptance Corp (GMAC), media reports had marveled at the fact that the firm, which according to some estimates has grown to be the seventh-largest financial institution in the US, had no web presence whatsoever. The web site’s launch may have been a response to that criticism.
A spokesman for the firm said the website was launched within the last couple weeks.
The firm, launched by founder and CEO Stephen Feinberg, has grown from a small hedge fund dealing mostly in debt to a huge player on the private equity scene which now boasts Dan Quayle as a chairman. At the same time, Feinberg and Cerberus have been incredibly reclusive, rarely speaking with the press or releasing data.
The website goes a long way in clearing up any confusion. The site contains a complete list of the firm’s holdings and even has a company flow chart showing the organisation of the Cerberus team.
Some of Cerberus’ more high-profile companies include the National and Alamo car-rental chains, Mervyn’s department stores, a stake in Albertson’s grocery stores and cable operator Galaxy Cable. With the addition of GMAC, the firm may have concluded that its growing empire could no longer operate under the veil of secrecy that has characterised its early existence.