Cerberus Business Finance, the mid-market direct lending platform of Cerberus Capital Management LP, has opened a new office in San Francisco. Scott Johnston and Kurt Peterson will lead the new office.
NEW YORK, Dec. 21, 2017 /PRNewswire-USNewswire/ — Cerberus Business Finance, LLC (“CBF”), the middle-market direct lending platform of Cerberus Capital Management, L.P., announced today that it has launched a new office in San Francisco, hiring Scott Johnston and Kurt Peterson to lead its dedicated efforts to deliver financial solutions to the region’s leading businesses and financial sponsors.
Mr. Johnston, Managing Director, will be responsible for sourcing, underwriting, and managing new investment opportunities across Northern California and the Pacific Northwest for CBF and its affiliated funds, which currently manage approximately $14 billion of capital dedicated to middle-market business. Mr. Johnston has over 26 years of experience in commercial finance and direct lending with extensive expertise in loan originations, credit underwriting, and portfolio management across industry sectors.
Mr. Peterson, Vice President, has over eight years of experience in the sourcing, underwriting, execution, and monitoring of middle-market credit and will work closely with Mr. Johnston to implement CBF’s strategy to partner with companies headquartered in the region.
Daniel Wolf, CEO of Cerberus Business Finance, said, “We are pleased to launch our San Francisco office dedicated to businesses in the Bay Area and the Pacific Northwest. Scott and Kurt immediately bring trusted expertise and relationships across a wide range of private equity sponsors and leading middle-market companies. We expect our team’s cohesive efforts will build upon our multi-decade track record of success.”
Mr. Johnston stated, “I am excited to be a part of the establishment of the San Francisco office of Cerberus Business Finance and I look forward to working with this talented team. CBF is a well-established direct-lending platform with a successful track record and reputation spanning over 22 years. I see an extraordinary opportunity to drive future growth by expanding and deepening CBF’s position in this market.”
As Cerberus Business Finance strategically expands its market-based solutions, its New York headquarters will maintain responsibility for credit decisions and no changes will occur in the day-to-day management or operation of CBF or its time-tested investment process.
Gerry Daniello, Vice Chairman of Cerberus Business Finance, said, “The San Francisco Bay Area and the Pacific Northwest are growing markets for middle-market business across a wide spectrum of industries. We are excited to deepen our relationships and offer our financing solutions and expertise as a long-term, proven partner.”
About Cerberus Business Finance, LLC
Cerberus Business Finance, LLC (“CBF”) currently manages approximately $14 billion of capital dedicated to its middle-market direct lending business. Over the past two years, CBF completed over 145 transactions, primarily as lead agent, totaling $10.7 billion of credit facilities. Beginning in 1995 with predecessor entities, CBF has managed funds and accounts focused on the direct origination of senior secured loans predominantly to U.S. middle-market companies across broad industry categories. The vast majority of CBF’s borrowers are owned by private equity sponsors, most of whom are repeat clients. Since the founding of its direct lending business, Cerberus Business Finance has invested over $25 billion in U.S. middle-market businesses.
About Cerberus Capital Management, L.P.
Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Cerberus has more than $30 billion under management invested across complementary credit, private equity, and real estate strategies. From its headquarters in New York City and network of affiliate and advisory offices in the U.S., Europe, and Asia, Cerberus has the on-the-ground presence to invest in multiple asset classes globally.