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February 08, 2016 1:47 AM ET

Capital Markets

Company Overview of Centerbridge Partners, L.P.

Company Overview

Centerbridge Partners, L.P. is a private equity firm specializing in leveraged buyouts, credit investing, and distressed debt securities and distressed debt for control opportunities. The firm makes investments in corporate partnerships and buildups. The firm seeks to invest in various sectors including restaurants. It typically invests in companies based in Europe and North America with a focus on United States. The firm seeks to make investments between $50 million and $300 million. Centerbridge Partners, L.P. was founded in 2005 and is based in New York, New York with an additional office in London, United Kingdom.

375 Park Avenue

12th Floor

New York, NY 10152-0002

United States

Founded in 2005

Phone:

212-672-5000

Fax:

212-672-5001

Key Executives for Centerbridge Partners, L.P.

Co-Founder and Managing Principal
Co-Founder and Managing Principal
Age: 58
Managing Director
Age: 34
Senior Managing Director
Senior Managing Director
Age: 53
Compensation as of Fiscal Year 2015.

Centerbridge Partners, L.P. Key Developments

Investors Are Seeking Stake In Italian Banks

Investors are seeking stake in Italian banks. Apollo Global Management, LLC (NYSE:APO), Centerbridge Partners, L.P. and AnaCap Financial Partners LLP are among private equity firms considering bidding to buy the four Italian lenders bailed out last month, according to people familiar with the matter. The sale of the banks could fetch more than €1 billion ($1.1 billion), or almost 30% of the €3.6 billion that was invested in Banca delle Marche S.p.A., Banca Popolare dell'Etruria e del Lazio - Società Cooperativa, Cassa di Risparmio di Ferrara S.p.A. and Cassa di Risparmio della Provincia di Chieti SpA, said the people, who asked not to be identified because the deliberations are private. As part of the banks’ reorganizations, they’re splitting off bad assets such as non-performing loans. Bidders are likely to focus on the largest banks, such as Banca delle Marche, the people said. They may also bid for Banca Popolare dell’Etruria e del Lazio and merge the two lenders, sources said. Deliberations are at a preliminary stage and the private equity firms may decide against a bid, the people said. Representatives for Apollo Global Management didn’t immediately return calls and e-mails seeking comment. Representatives for AnaCap Financial Partners and Centerbridge Partners wouldn’t immediately comment. A spokesman for the four banks declined to comment.

Lone Star, Apollo Reportedly Seen Bidding For BTG Pactual Unit

Investors reportedly seeks stake in Recovery do Brasil Consultoria S.A. from BTG Pactual Group (BOVESPA:BBTG11). BTG Pactual Group has asked interested parties in its stake in Recovery do Brasil Consultoria to deliver their proposals by December 23, 2015, five people with direct knowledge of the situation said. According to one source, as many as 23 firms expressed interest in Recovery do Brasil Consultoria, although no more than half a dozen are expected to submit non-binding offers. Lone Star Funds, Apollo Global Management, LLC (NYSE:APO), Elliot Management Corp, Oaktree Capital Group, LLC (NYSE:OAK) and KKR & Co. L.P. (NYSE:KKR) are among firms specializing in distressed debt investments that may bid for the 82% stake that BTG Pactual owns in Recovery, said the sources, who requested anonymity because negotiations are under way. BTG Pactual is seeking about BRL 1.7 billion ($439 million) from the sale, should it include the bank's platform that Recovery uses to price loans, two of the sources said. Without that, the sale could earn BRL 800 million for BTG Pactual, the same sources added. Centerbridge Partners, L.P. and Monarch Alternative Capital LP are also eyeing the asset and may submit a proposal, the second source noted. The results of the first round will define how fast the divestment will occur, the sources said. An unidentified Sao Paulo-based distressed debt company, which is teaming up with undisclosed partners to explore the purchase of Recovery's bad debt portfolio or collection platform, has also entered talks and is considering bidding, said the first source. BTG Pactual declined to comment. Interested parties have done some due diligence work on Recovery's portfolio and platform, the sources said. Apollo, Elliot, Oaktree, Centerbridge and Monarch did not have an immediate comment. A representative for Lone Star declined to comment. Credit Suisse Group AG (SWX:CSGN) is in talks to buy part of BTG Pactual Group's BRL 22 billion credit portfolio, a person with direct knowledge of the matter said. No agreement has been made and a deal might not be reached, the person said, asking not to be identified discussing private negotiations. Officials at BTG and Credit Suisse declined to comment on the talks. BTG is shopping its loans to large corporations after the November 25, 2015, arrest of its founder, Andre Esteves, forced BTG Pactual into a life-or-death struggle to sell assets and raise cash. BTG’s total loan portfolio was BRL 43 billion at the end of the third quarter, though half are guarantees that can’t be sold, another person said.

Arca To Be Sold Reportedly

Three suitors have lined up for Arca SGR Spa which has been put up for sale as part of the divestment strategies of Banca Popolare di Vicenza S.c.p.A. and Veneto Banca s.c.p.a, each owning 19.99% of the investment manager’s capital. Both are seeking to plug capital gaps and conform to the European Central Bank’s capital requirement. The three candidates include Atlas Merchant Capital LLC and Centerbridge Partners, L.P. and Italian Anima Holding S.p.A (BIT:ANIM) , Milano Finanza said citing Banca popolare dell'Emilia Romagna, Società cooperativa. (BIT:BPE) Chief Executive Alessandro Vandelli as saying at an Italian Banking Association (ABI) meeting.

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