Cerberus Capital Management related stories
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Strategic Value Partners collects $322 mln for first closeStrategic Value Partners has held a first close on $322 million for its third fund, which has been targeting $1 billion, according to a person familiar with the situation, sister news service peHUB reported.
- Cerberus moves to allow investors to exit Freedom Group - Reuters
Cerberus Capital Management is working on a mechanism that would allow its fund investors to exit Freedom Group, the maker of the Bushmaster rifle used in the Newtown, Connecticut school shooting rampage, writes Reuters. The move comes a year after the New York-based private equity firm said it would sell Freedom Group, a pledge that was made four days after 26 people, most of them children, were killed at the Sandy Hook Elementary School in Newtown.
- PE-backed American Petroleum Tankers Partners nixes IPO - WSJ
The Wall Street Journal http://online.wsj.com/article/BT-CO-20131115-710901.html?dsk=y reported on Friday that American Petroleum Tankers Partners, which is backed by Blackstone Group and Cerberus Capital Management, has dropped its plans to launch an IPO. The paper said that no reason was given for the withdrawal.
- Open Text to buy PE-backed GXS Group for $1.165 bln
Waterloo, Ont.-based Open Text Corp (NASDAQ: OTEX, TSX: OTC), an enterprise data management software company, has agreed to acquire GXS Group Inc, a provider of business-to-business cloud integration based in Gaithersburg, Maryland. The purchase price is US$1.165 billion. OpenText will pay US$1.065 billion in cash and US$100 million in its common shares. The deal is targeted to close within 90 days. GXS was founded in 2002 as a spin-out from General Electric Co., and bought by U.S. private equity and venture firms Francisco Partners and Norwest Venture Partners. Cerberus Capital Management and Golden Gate Management are also investors in the company.
- Strategic Value Partners launches $1 bln Special Situations III Fund with eye on Europe
Strategic Value Partners, the Greenwich, Conn.-based specialist in distressed investing, plans to focus on downtrodden names in Europe and elsewhere as it embarks on a $1 billion fundraising effort for its Strategic Value Special Situations Fund III.
- Cerberus, others explore deal for Safeway - Reuters
A handful of buyout firms, including Cerberus Capital Management, are exploring a deal for all or part of supermarket chain Safeway Inc, writes Reuters. The deal could potentially shape up to be one of the largest leveraged buyouts since the financial crisis.
- Catalyst Capital closes Fund IV above target
The Canadian distressed-for-control investor closed on $812m. Catalyst’s previous fund hit its $1bn hard-cap in 2011.
- Report: Cerberus in $1.7bn Japan exit
The US-based private equity firm has sold its stake in Aozora Bank in one of the country's largest private equity exits in recent years.
- Lockyer to propose CalPERS gun divestment
As he did with CalSTRS, California State Treasurer Bill Lockyer plans to propose a divestment measure that will rid CalPERS’ portfolio of exposure to certain firearms.
- CalSTRS to divest gun manufacturers
The $154bn system's investment committee has approved removing its exposure to gun makers after the Connecticut school massacre in December.