Cerberus Capital Management related stories
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Sycamore Partners close to deal to acquire Staples: ReutersPrivate equity firm Sycamore Partners is in advanced talks to acquire Staples Inc following an auction for the U.S. office supplies retailer, people familiar with the matter said on Wednesday, in a deal that could top $6 billion, Reuters is reporting.
- Cerberus acquires London-based Qbic Hotel from Bridges
Bridges Fund Management has sold London-based Qbic Hotel to Cerberus Capital Management LP. No financial terms were disclosed. KPMG Corporate Finance advised Bridges on the transaction while Addleshaw Goddard provided legal counsel.
Home Capital received Onex, Brookfield approaches: ReutersHome Capital Group Inc has received takeover approaches led by Canadian private equity firms Onex Corp and Brookfield Asset Management but is moving ahead with plans to stay independent, Reuters reported, citing a Globe & Mail story. The Globe & Mail cited a source close to the process as saying the offers received to date were "speculative, conditional and not that attractive". It said the company was working on plans to restore its financial health, through steps including the sale of smaller lines of business.
- Private markets delivers 10% year-to-date at PSERS
The $53bn US pension posted a first-quarter return of 2.51% for an allocation covering private debt, private equity and venture capital.
- Staples rebuffs Cerberus takeover bid, Sycamore still in the running: Bloomberg
Office supplies chain Staples Inc has rejected a takeover bid from Cerberus Capital Management as too low, according to Bloomberg News https://www.bloomberg.com/news/articles/2017-05-25/staples-said-to-rebuff-cerberus-offer-sycamore-still-in-running The news outlet reported the proposed amount would put the company at a valuation of about $5.8 billion. Sycamore Partners is still in the running, however, to acquire Staples.
- American Eagle, Cerberus work on joint bid for Abercrombie: WSJ
American Eagle Outfitters is working with Cerberus Capital Management on a bid for Abercrombie & Fitch, the Wall Street Journal reported. Other buyout shops and clothing retailer Express Inc are still involved in the process, the WSJ said. The news caused Abercrombie’s shares to surge Wednesday.
- Cerberus buys Bushkill from Resorts Group
Cerberus Capital Management has acquired Pennsylvania-based Bushkill Group, a vacation property ownership company from Resorts Group Inc. The transaction includes Bushkill's Pocono Mountains resort location. No financial terms were disclosed. As part of the deal, Rick Budd, senior operating executive at Cerberus Operations and Advisory Company LLC, has been appointed president and CEO of Bushkill.
- Cerberus restructures global real estate platform with new appointments
Cerberus Capital Management has restructured its global real estate platform with new appointments. Lee S. Millstein, the firm's current head of European and Asian distressed/real estate, has been named global head of real estate while Ronald A. Rawald, head of European real estate advisory, will move from London to New York and become head of international real estate. Also, Daniel Dejanovic will relocate from the firm's London office to its new one in Amsterdam and became head of European real estate.
- Korea’s GEPS appoints new CIO
The pension fund has selected a new appointee after its former head completed a three-year contract.
- Cerberus Capital Management raises $4bn
View the latest capital raises