The firm is active in private equity investment, lending, specialty finance, real estate investment, and securities trading. The company has been an acquirer of businesses over the past several years and now has investments in financial services, healthcare, consumer & retail, government services, manufacturing & distribution, technology & telecommunications, building products, energy & natural resources, apparel, paper, packaging & printing, transportation, commercial services, industrial & automotive, real estate, travel & leisure, and weaponry. Cerberus's largest locations include New York City, Chicago, and Boise, Idaho. Ĭerberus has grown to include 11 offices in nine countries. Bush, joined Cerberus in 1999 and is chairman of the company's Global Investments Division. ĭan Quayle, former Vice President of the United States 1989–1993, who served under President George H. Feinberg has stated that while the Cerberus name seemed like a good idea at the time, he later regretted naming the company after the mythological dog. History Ĭerberus is named after the mythological three-headed dog that guarded the gates of Hell. Investors include government and private sector pension and retirement funds, charitable foundations, university endowments, insurance companies, family savings and sovereign wealth funds. Securities and Exchange Commission Registered Investment Adviser. Ĭerberus has around US$60 billion under management in funds and accounts. The firm has affiliate and advisory offices in the United States, Europe and Asia. Richter, who serves as a senior managing director. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. is a global alternative investment firm with assets across credit, private equity, and real estate strategies. Snow (Chairman of Capital Management)ĭistressed securities and assets, Leveraged buyouts, Growth capital, Real estate investing, Commercial lendingĬerberus Capital Management, L.P. Dan Quayle (Chairman of Global Investments).Steve Feinberg (Co-Founder and Co- CEO).The offers were part of a larger strategy for GMAC to become a bank holding company and to avail itself to funds under the Troubled Asset Relief Program. The transaction is the largest private debt exchange offer to date, and included 19 series of outstanding bonds of GMAC and certain of its subsidiaries and 14 series of outstanding bonds of its wholly owned subsidiary, Residential Capital, LLC. Tendering holders of notes accepted in the ResCap offers received a combination of approximately $1.2 billion of new debt securities of GMAC and $500 million of cash. Tendering holders of notes accepted in the GMAC offers received a combination of approximately $11.9 billion aggregate principal amount of new debt securities of GMAC, approximately $2.6 billion aggregate liquidation preference of preferred stock and $2 billion of cash. Approximately $17.5 billion in aggregate principal amount of outstanding notes of GMAC and certain of its subsidiaries were validly tendered and accepted in the GMAC offers and approximately $3.7 billion in aggregate principal amount of outstanding notes of Residential Capital, LLC were accepted in the ResCap offers. and RBS in GMAC Financial Services' separate private exchange offers and cash tender offers to purchase and/or exchange certain of GMAC's and its subsidiaries (the "GMAC offers") and Residential Capital, LLC's (the "ResCap offers") outstanding notes. Morgan, Barclays Capital, Deutsche Bank Securities, Credit Suisse Securities, Morgan Stanley & Co. GMAC Completes Largest Private Debt Swap in HistoryĬahill represented the dealer managers including Bank of America, Citi, J.P.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |