Cerberus Capital Management related stories
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Economic woes herald return of the MACCerberus’ abandoned deal to acquire US hotel chain Innkeepers may signal a return of firms exercising Material Adverse Change or Material Adverse Effect Clauses in response to global market uncertainty.
- Cerberus receives big commitment on first senior debt fund
In addition to committing $200m to Cerberus’s mid-market senior debt fund, the Pennsylvania Public School Employees’ Retirement System committed almost $300m across three private equity funds.
- Cerberus spin-out collects $452m in debut
The firm beat its $400m target and $425m hard-cap, and will make investments of between $25m and $75m in Canada and the US.
- Cerberus spin-out Tenex nears final close
The Michael Green-led firm is expected to hit its hard-cap of $425m for its debut fund, which has shrugged off the stagnant fundraising market and the hesitancy of LPs to back new firms.
- Cambridge: Glut of uncalled capital boosts prices
The industry has about $376bn of uncalled capital that was raised in the peak credit years, an overhang that is driving up prices and could expand as many firms are raising funds this year, according to Cambridge Associates.
- Cerberus in $1.1bn hotel deal
The New York investment firm has won an auction alongside partner Chatham Lodging Trust to acquire 64 hotels from Innkeepers USA Trust, which filed for Chapter 11 bankruptcy protection in 2010.
- Cerberus launches fifth fund targeting $3.75bn
The firm has worked hard after receiving an investment period extension last year to bring its fourth fund into profitability after the headline-grabbing Chrysler bankruptcy and the government bailout of GMAC Financial.
- Cerberus: ‘European real estate a key focus’
New York-based Cerberus Capital Management says it sees opportunity in the region as it strikes its third significant Euro deal in the past five months.
- New Jersey paves way for secondaries sales
The US pension may, if the price is right, sell up to $1bn-worth of private equity holdings on the secondaries market.
- New Jersey negotiates fee cuts
The $71bn pension system says cuts in fees it pays to investment managers will save it at least $40m over the next five years.