Cerberus, Feinberg Switch Strategy to Shake Up German Banks
- American financier announces 3% investment in Deutsche Bank
- Follows July disclosure of 5% stake in Germany’s No. 2 lender
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Stephen Feinberg, the reclusive American financier, is probably best known for his connection to President Donald Trump, his firm’s brief ownership of Chrysler, its investments in distressed debt, and its involvement in weapons, from pistols to military aircraft.
Add this surprise to Feinberg’s portfolio: He’s put himself in a position to be an activist investor in a pair of German banks that have been mentioned as possible merger partners.