May 24, 2017 2:17 PM ET

Capital Markets

Company Overview of Cerberus Capital Management, L.P.

Company Overview

Cerberus Capital Management, L.P. is a private equity firm specializing in investments in undervalued companies and distressed corporate debt and securities and Buyouts. It invests in equity of public and private large-cap and middle-market companies and also makes mezzanine investments. The firm seeks to invest in aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, fertilizers and agricultural chemicals, manufacturing and distribution, paper, packaging, and printing, real estate, logistics, technology and telecommunications, transportation, and travel and leisure sectors. For distressed inves...

875 Third Avenue

28th floor

New York, NY 10022

United States

Founded in 1992

Phone:

212-891-2100

Fax:

212-891-5212

Key Executives for Cerberus Capital Management, L.P.

Co-Founder, Chief Executive Officer, Senior Managing Director and Chief Investment Officer
Age: 55
Senior Managing Director and Chief Executive Officer
Vice Chairman, Senior Managing Director and Co-Head of Global Private Equity
Age: 64
Senior Managing Director, Chief Administrative Officer and Co-General Counsel
Senior Managing Director, Chief Operating Officer and General Counsel
Age: 59
Compensation as of Fiscal Year 2016.

Cerberus Capital Management, L.P. Key Developments

Cerberus Reportedly Bids For HSH Nordbank

Cerberus Capital Management, L.P. has reportedly joined the bidding for HSH Nordbank AG., looking to potentially acquire the lender's 22 billion nonperforming loan portfolio. Cerberus Capital Management LP, one of the world's largest financial investors with around $30 billion in assets under management, is the second private equity bidder for HSH Nordbank AG, Handelsblatt reported May 15, 207, citing financial sources. Previously, Apollo Global Management LLC was named as one of the companies participating in the sale process, which was launched by the states of Hamburg and Schleswig-Holstein earlier this year, in accordance with EU state aid proceedings. After concluding a preliminary round of talks with interested parties at the end of March, the two states, which hold an 85% direct stake in HSH Nordbank, began talks with a shortlisted group of bidders. All of them are offered access to HSH Nordbank's books. Private equity investors are said to be primarily interested in HSH Nordbank's bad bank unit, which contains all remaining nonperforming loans of the German lender. The total value of the portfolio is estimated at around 22 billion, and Cerberus is keen on buying precisely that part of the business, according to Handelsblatt's sources.

Investors Reportedly Seeks To Acquire Intesa Sanpaolo's Bad Loans

Intesa Sanpaolo S.p.A. (BIT:ISP) is in talks to sell €2.5 billion in bad loans to Christofferson, Robb & Company, LLC and Bayview Asset Management, LLC, three sources close to the matter said. The sources said Intesa had not yet entered into an exclusivity agreement with Christofferson, which may give other bidders a chance to re-enter the game. Two consortia comprising Apollo Global Management, LLC (NYSE:APO) with Credito Fondiario S.p.A. on one side and Cerberus Capital Management, L.P. with Cerved Information Solutions S.p.A. on the other were also in the running for the sale, dubbed "Beyond the clouds". A second source said binding bids for this €1.35 billion portfolio, dubbed "Project Rep", were due by May 19. The first source said around a dozen international investors had shown an interest as they bet on a recovery in the Italian property market. Bidders are expected to include Fortress Investment Group LLC, Apollo, Cerberus Capital Management, L.P., PIMCO with GWM Capital Advisors LLP, Starwood Capital Group with TPG Capital, L.P. All the interested parties declined to comment.

Cerberus, Sycamore Reportedly Still In Talks To Buy Staples

Cerberus Capital Management, L.P. and Sycamore Partners are the two private equity firms actively exploring an acquisition of Staples, Inc. (NasdaqGS:SPLS), people familiar with the matter said on May 2, 2017. Staples has held talks with several private equity firms over the last few weeks about a potential deal, the sources said. Cerberus and Sycamore have emerged as the frontrunners, as other prospective buyers have become discouraged by the challenges Staples faces in shifting its business model from serving consumers to catering to companies, the sources added. Clayton Dubilier & Rice, Inc., Advent International Corporation and Bain Capital, LP are among the private equity firms that have also held discussions with Staples but are now less actively pursuing a deal, according to the sources. Staples, Cerberus, Sycamore Partners, Clayton Dubilier, Advent and Bain all declined to comment, reported Reuters. Bain Capital, LP, reportedly not pursuing a deal with Staples, Inc.

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