Cerberus Capital Management related stories
All articles and analysis
CVC builds out credit arm with mergerThe firm has merged its London-based credit arm CVC Cordatus with New York-based Apidos Capital Management. The new entity, CVC Credit Partners, will manage $7.5bn of credit assets in the US and Europe.
- Cerberus hires Goldman exec for European debt
The firm has been growing its European distressed debt trading platform and has brought on Goldman Sachs executive Allen Ukritnukun to lead the team as it works to capitalise on the enormous distressed opportunity in the region.
- Goldman's global sponsors head retires
Milton Berlinski (pictured), global head of financial sponsors at Goldman Sachs, is to retire this month. Pete Lyon has been promoted to co-head of the sponsors unit in the Americas as a result.
- Cerberus partners with New Jersey for mid-market lending
The distressed investment-focused firm has formed a $300m customised account with New Jersey’s $68bn state pension system to take advantage of the huge need for financing in the mid-market.
- WL Ross, Virgin beat JC Flowers to Northern Rock
Financial services specialist JC Flowers has failed again to acquire the retail arm of UK bank Northern Rock, after the UK Treasury sold it instead to Virgin Money and WL Ross for £747m.
- Cerberus and Garanti ink Turkey partnership
The two groups will provide an initial $400m to invest in Turkey and the surrounding region, and may raise a further $600m next year.
- Feinberg: GPs are ‘overpaid’
LPs should be paid back all their committed capital plus a preferred return before GPs start to collect carried interest, head of Cerberus Stephen Feinberg said at an industry conference.
- Loss looms for Cerberus on paper company
An Ohio paper manufacturer has filed for Chapter 11 bankruptcy four years after Cerberus purchased the company in a $2.3bn leveraged buyout.
- News analysis: 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.
- 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.