Cerberus Capital Management related stories
All articles and analysis
Best Buy Takeover Attempt in JeopardyBest Buy Co Inc founder Richard Schulze's effort to take the company private is in trouble after attempts to secure financing faltered while an alternative strategy to line up minority investors may not pan out either, five sources familiar with the matter said.
Gores Group cancels Pep Boys dealThe Gores Group has shut down its $1bn deal for autoparts retailer Pep Boys nearly four months after announcing the acquisition.
- New Jersey expands commitment to Tenex
After acquiring a $5.8m fund stake from another investor and assuming $14.2m in uncalled commitments, New Jersey’s Division of Investment now has a 15.5% stake in Tenex’s debut vehicle.
- CalPERS gives Cerberus a big boost
The $232bn system has formed a new relationship with Cerberus with a $400m commitment into the firm’s fifth fund, a sign of confidence as the firm works to hit its $3.75bn target.
- U.S. PE Deal Value Jumped 78% in January
A surge of deal announcements in early January helped push up monthly transaction totals. The value U.S. private equity transactions rocketed by 78% to $8.2 billion in January, Thomson Reuters data says.
- Friday Letter Clear as mud
Australia's determination this week that private equity profits may – in certain circumstances – be taxed as income rather than capital gains has left more questions than answers.
- Friday Letter Why PE managers like MACS
Private equity managers can strategically execute “Material Adverse Change” clauses to renegotiate deals in their favour –though doing so brings significant reputational risk.
- Reuters - Starwood Property, Starwood Capital Buy LNR Property for $1B
Starwood Property Trust Inc. and investment firm Starwood Capital Group said they would buy LNR Property LLC for $1.05 billion in cash to expand the trust's real estate servicing and financing business, Reuters reported. Diversified real estate investment firm LNR Property is owned by hedge funds Cerberus Capital Management, Oaktree Capital Management, commercial lender iStar Financial Inc and Vornado Realty Trust.
- Cerberus holds first close for Fund V
The firm has collected $1.1bn for its fifth flagship fund following a rebound in performance for Cerberus Institutional Partners IV.
- Firms turn to dividend recaps for exits
As the exit market continues to be challenging, dividend recaps remain a tempting exit option for private equity firms. Loan volume for dividend recaps is now the highest since 2007, according to research.