Cerberus Capital Management, L.P. is a global alternative investment firm with assets across credit, private equity, and real estate strategies. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.
Cerberus has around US$60 billion under management in funds and accounts. The company is a U.S. Securities and Exchange Commission Registered Investment Adviser. Investors include government and private sector pension and retirement funds, charitable foundations, university endowments, insurance companies, family savings and sovereign wealth funds.
History
Cerberus is named after the mythological three-headed dog that guarded the gates of Hell. 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.
Dan Quayle, former Vice President of the United States 1989–1993, who served under President George H. W. Bush, joined Cerberus in 1999 and is chairman of the company's Global Investments Division.
Cerberus has grown to include 11 offices in nine countries. Cerberus's largest locations include New York City, Chicago, and Boise, Idaho.
Areas of focus
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.
The firm is active in private equity investment, lending, specialty finance, real estate investment, and securities trading. The firm's current investment portfolio includes more than 40 companies around the world with an average hold time of more than five years.
Cerberus maintains the Cerberus Operations & Advisory Company LLC (COAC), which consists of senior operating executives supporting the firm's due diligence and assisting its portfolio companies.
Cerberus Operations and Advisory Company LLC (COAC) Cerberus utilizes an operations team of over 100 professionals to help source, analyze and monitor portfolio investments. Activities performed by members of COAC in the area of control private equity investments, include due diligence, acquisition planning, board membership, special project staffing and, where appropriate, occupying interim or full-time open positions.