Cerberus Capital Management related stories
All articles and analysis
GMAC sells mortgages to SilverLeaf at 82% discountThe private equity firm has purchased 321 single family loans for with a face value of $28m for $4.9m from Cerberus Capital Management-backed GMAC.
- Shinsei and Aozora banks to merge
The banks, backed respectively by JC Flowers and Cerberus, will create Japan’s sixth largest banking group.
- ALL THE WAY TO THE BANK
With a little regulatory creativity, four US private equity firms have carved out a banking niche. More are sure to follow. By Cezary Podkul.
- Private equity-backed Japanese banks confirm talks
A merger between JC Flowers-backed Shinsei and Cerberus-backed Aozora would create the country's sixth-largest bank.
- Cerberus holds $700m claim in Extended Stay bankruptcy
Cerberus expects to make a 100% recovery on the secured $700m loan. The hotel group was acquired by an investor group led by private equity real estate firm Lightstone Group in June 2007 for $7.4bn. There are no plans to close or sell the hotels.
- Report: Shinsei and Aozora near merger
Japan's Shinsei and Aozora banks, in which JC Flowers and Cerberus Capital Management hold major stakes respectively, are reported to be nearing a union.
- Japanese government endorses private equity-backed bank merger
Japan’s finance and economics minister has publicly stated his support for a proposed merger between the Aozora and Shinsei banks, in which the government holds significant stakes.
- US tells Chrysler to find a partner or lose future funding
The government’s auto industry task force rejected a restructuring plan put forth by Cerberus Capital Management-backed Chrysler as part of its government bailout. The task force said a quick restructuring in bankruptcy may be the company's best chance for survival.
- Sun Capital-backed pharmacy declares bankruptcy
The Drug Fair Group, based in New Jersey, has filed for Chapter 11 protection and is selling a portion of its stores and other assets to Walgreens.
- A local business
As we continue to see casualties of the global economic crisis in Asia, it is worth noting that many of the headline private equity victims so far have been Western firms attempting to expand into Asia, writes Jenny Blinch.