Cerberus Capital Management related stories
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Report: Fortress cuts 11% of staffThe publicly traded alternatives manager reportedly cut around 100 jobs towards the end of 2008, as its share price was hitting an all-time low.
- Blackstone M&A pro charged with insider trading
Managing director Ramesh Chakrapani has been suspended from Blackstone’s corporate advisory group after having been charged with passing on details of the 2006 Albertson’s buyout.
- Report: Cerberus to cut 10% of staff
The New York-based private equity firm is reportedly on the brink of making up to 27 of its 275 employees redundant.
- Report: Rattner up for auto oversight post
The Quadrangle Group co-founder is reportedly the leading candidate for an appointment by Barack Obama to a US government position overseeing the restructuring of the US auto industry. General Motors and Chrysler last month received a $17.4bn government rescue package.
- Sun Capital to cut about 10% of its workforce
The Florida-based firm joins several other high-profile private equity firms that have cut back on staff to control costs amid recession.
- US auto bailout to aid buyout firms
Many private equity firms have exposure to the US auto sector that was teetering on the edge of collapse. The US government's multi-billion efforts to prop up the big three US auto makers will accordingly affect many portfolios, not just Cerberus'.
- Cerberus indirectly linked to Madoff scandal
One of the firm’s portfolio companies, Aozora Bank, is a victim in the alleged Ponzi scheme, and the chairman of another portfolio company controls a feeder entity that may have lost $1.8bn to Madoff.
- Cerberus donates Chrysler equity in rescue package
The New York-based firm will use its equity in Chrysler’s automotive operations as an incentive for labour and creditors in the restructuring of the struggling automaker, while cautioning that its funds are not an ‘ATM machine’.
- Welsh Carson bolsters operating team with trio
The information, business services and healthcare specialist has named Daniel Pelak, Jeffrey Gallant and Scott Bontempo to its executive-laden Resources Group. Bontempo most recently worked as lead human resource executive at Cerberus Capital Management.
- GMAC fails to meet bank holding company requirements
The mortgage and auto lender has extended the deadline of its tender offers as a last ditch effort to meet the capital requirement of $30bn.