(Reuters) – Cerberus Capital Management LP has completed fundraising for its latest flagship private equity fund, raising $2.61 billion to invest in distressed assets, Reuters reported Wednesday. The new fund fell short of the firm’s target of $3.75 billion.
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(Reuters) – Private equity mogul Stephen Feinberg is exploring a bid for Freedom Group, the Bushmaster rifle manufacturer that his firm, Cerberus Capital Management LP, put up for sale after one of its guns was used in a Connecticut school shooting late last year, three people familiar with the situation said on Tuesday.
Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze‘s three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world’s largest electronics retailer, writes Reuters.
(Reuters) – Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc. (NYSE: SVU), and an announcement could come as soon as next week, a person familiar with the matter said on Friday. Shares of Supervalu, the third largest U.S. supermarket chain, jumped 17% on the news.
U.S. private equity firm Cerberus Capital Management said on Tuesday it will immediately begin selling its investment in gunmaker Freedom Group in light of last week’s school shooting in Connecticut.
Eliot Spitzer, the former New York Governor, wants pension funds to exit their investment in Cerberus Capital Management, because of the firm’s connection to gun manufacturer Bushmaster. New York-based Cerberus, which has more than $20 billion in assets, owns the Freedom Group.
Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc. and has held talks with lenders to line up financing, according to three sources familiar with the matter. Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up 30 percent on Monday.
AerCap Holdings has purchased 10 million ordinary shares in AerCap held by Cerberus Capital Management, through its affiliate, Fern S.a.r.l. The aggregate purchase price for 10 million ordinary shares is $120 million. PRESS RELEASE AerCap Holdings N.V. (“AerCap,” “the Company,” NYSE: AER) purchased 10 million ordinary shares in AerCap held by Cerberus Capital Management, L.P. [...]
Strategic Value Partners LLC, the $4 billion hedge fund and private equity house started by distressed investing guru Victor Khosla, has secured close to $270 million in approvals and commitments for a distress-for-control European opportunities buyout fund, according to a source close to the firm. The target for the fund, Strategic Value European Opportunities (USD) [...]