Cerberus Capital Management related stories
All articles and analysis
Apollo-backed Linens forced into fire saleThe bankrupt retailer will be sold for about $476m to a liquidation group including Gordon Brothers Retail Partners, Hilco Merchant Resources and Hudson Capital. Apollo, which spent $201m for its stake in the company, has said the loss will have minimal impact.
- Cerberus in $1bn mortgage-backed securities deal
The New York private equity firm will buy a chunk of the Canadian Imperial Bank of Commerce's troubled US real estate portfolio, purchasing amortising senior notes that will have a capped return of about 20 percent.
- Cerberus in talks for Daimler’s Chrysler stake
Any potential deal would preserve existing industrial relationships between Daimler and Chrysler, according to the New York-based private equity firm.
- GMAC sells home financing unit to Brookfield
The Cerberus-owned home and auto lender has agreed to sell its home services division to the Toronto-based investment firm Brookfield Asset Management.
- Cerberus, Sun Capital named in Mervyns lawsuit
The US department store, which filed for Chapter 11 bankruptcy protection in July, has filed a lawsuit against its buyers, including funds controlled by Cerberus Capital, Sun Capital and Lubert-Adler, alleging the firms stripped it of its real estate assets in order to leverage the buyout.
- Patterson compares current volatility to Great Depression
MatlinPatterson co-founder Mark Patterson yesterday characterised today's economy as the most troubled since the period following the US stock market crash in 1929. Operational concerns are now second to broader financial markets considerations when conducting due diligence, he said.
- Madison Dearborn’s Hines files Chapter 11
The Southern California plant nursery operator, partly owned by CalSTRS, has selected turnaround specialist Black Diamond as its stalking horse bidder. Hines has also secured $62 million in debtor in possession financing from its lenders, which include Cerberus-owned GMAC Commercial Finance.
- Cerberus, Ampersand agree $3.1bn biotech exit
The private equity firms have agreed to sell Talecris Biotherapeutics, purchased for $590m in 2005, to Australian blood products company CSL.
- Chrysler financing falls $6bn short
Chrysler Financial, the lender Cerberus purchased alongside its corresponding auto unit last July, fell $6bn short of its $30bn target while renewing its credit facilities. The lender’s credit rating was reduced to B- last week on news of the company exiting consumer leasing.
- Moelis hires ex-Fortress executive ahead of fund close
The boutique investment bank founded by UBS veteran Ken Moelis has added Fortress managing director Greg Share to its private equity team. The firm’s debut fund, which held a first close on $1.8bn last September, will complete fundraising in ‘the next few months’.