Cerberus Capital Management related stories
All articles and analysis
Cerberus donates Chrysler equity in rescue packageThe New York-based firm will use its equity in Chrysler’s automotive operations as an incentive for labour and creditors in the restructuring of the struggling automaker, while cautioning that its funds are not an ‘ATM machine’.
- Welsh Carson bolsters operating team with trio
The information, business services and healthcare specialist has named Daniel Pelak, Jeffrey Gallant and Scott Bontempo to its executive-laden Resources Group. Bontempo most recently worked as lead human resource executive at Cerberus Capital Management.
- GMAC fails to meet bank holding company requirements
The mortgage and auto lender has extended the deadline of its tender offers as a last ditch effort to meet the capital requirement of $30bn.
- Sun Capital shifts retail brands to new platform
The Florida-based firm’s portfolio company Kellwood has finalised a $179m divestiture, selling off two brands to a newly created Sun Capital platform company to repay its debt.
- Cerberus: Daimler misled on Chrysler health
Setting the stage for a potential legal battle, the New York-based private equity firm today charged the German automaker with ‘intentionally. . . misrepresenting’ to Cerberus the state of the auto-lending market leading up to its investment in Chrysler last year. Daimler called the accusations 'absurd'.
- GMAC to restructure $38bn debt load
The Cerberus-owned company has launched a $38bn debt restructuring to shore up its capital base to meet regulatory requirements necessary to become a bank holding company.
- Judge approves Warburg-backed Wellman's bankruptcy plan
Warburg invested $126m in polyester manufacturer Wellman in 2003 but saw the company collapse into bankruptcy in February amid rising raw material costs and a mountain of debt.
- Choosing battles
The image of private equity firms on both sides of the Atlantic asking for bailout money weakens the industry’s position on the carried interest debate, writes Christopher Witkowsky.
- Mind the pensions gap
In light of Duke Street’s recent run in with the UK Pensions Regulator, buyout firms face the prospect of being forced to make up pension shortfalls, write Richard Garvan and Andrew Patten.
- Sun Capital-backed Mervyns to liquidate
Department store Mervyns, bought in 2004 by Cerberus Capital Management and Sun Capital Partners for $1.2bn, will liquidate after filing for bankruptcy protection in July.