Cerberus Said to Name Goldman, JPMorgan, BofA for IPO

Cerberus Capital Management LP, the private-equity firm led by Stephen Feinberg, is moving ahead with an initial public offering of its German retail-property assets after hiring three banks to manage the sale, people with knowledge of the plan said.

Cerberus, which owns buildings valued at about 2 billion euros ($2.6 billion) that house German department stores, is working with Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp., said two of the people, who asked not to be identified because the plans are private. The IPO could take place in the second half, they said.