Cerberus Capital Management related stories
All articles and analysis
Sun Capital shifts retail brands to new platformThe Florida-based firm’s portfolio company Kellwood has finalised a $179m divestiture, selling off two brands to a newly created Sun Capital platform company to repay its debt.
- Cerberus: Daimler misled on Chrysler health
Setting the stage for a potential legal battle, the New York-based private equity firm today charged the German automaker with ‘intentionally. . . misrepresenting’ to Cerberus the state of the auto-lending market leading up to its investment in Chrysler last year. Daimler called the accusations 'absurd'.
- GMAC to restructure $38bn debt load
The Cerberus-owned company has launched a $38bn debt restructuring to shore up its capital base to meet regulatory requirements necessary to become a bank holding company.
- Judge approves Warburg-backed Wellman's bankruptcy plan
Warburg invested $126m in polyester manufacturer Wellman in 2003 but saw the company collapse into bankruptcy in February amid rising raw material costs and a mountain of debt.
- Choosing battles
The image of private equity firms on both sides of the Atlantic asking for bailout money weakens the industry’s position on the carried interest debate, writes Christopher Witkowsky.
- Mind the pensions gap
In light of Duke Street’s recent run in with the UK Pensions Regulator, buyout firms face the prospect of being forced to make up pension shortfalls, write Richard Garvan and Andrew Patten.
- Sun Capital-backed Mervyns to liquidate
Department store Mervyns, bought in 2004 by Cerberus Capital Management and Sun Capital Partners for $1.2bn, will liquidate after filing for bankruptcy protection in July.
- Apollo-backed Linens forced into fire sale
The bankrupt retailer will be sold for about $476m to a liquidation group including Gordon Brothers Retail Partners, Hilco Merchant Resources and Hudson Capital. Apollo, which spent $201m for its stake in the company, has said the loss will have minimal impact.
- Cerberus in $1bn mortgage-backed securities deal
The New York private equity firm will buy a chunk of the Canadian Imperial Bank of Commerce's troubled US real estate portfolio, purchasing amortising senior notes that will have a capped return of about 20 percent.
- Cerberus in talks for Daimler’s Chrysler stake
Any potential deal would preserve existing industrial relationships between Daimler and Chrysler, according to the New York-based private equity firm.