Cerberus Capital Management LP’s founder Stephen Feinberg and his partners may try to acquire gunmaker Freedom Group Inc. from the private-equity funds managed by his firm, according to two people familiar with the matter.
What with the terrorist attack in Boston, the deadly explosion at a fertilizer plant in Texas and the inane vote against gun control in the U.S. Senate, you may have missed the news late last week about Stephen Feinberg. The reclusive co-founder of the buyout firm Cerberus Capital Management LP is attempting one of his most daring and ill- conceived deals of all time: trying to buy Freedom Group Inc., one of the world’s largest gun manufacturers, from his own company.
Stephen Feinberg , chief executive officer of Cerberus Capital Management LP, said the private- equity industry remains lucrative even as the size of new funds shrinks following the 2008 financial crisis.
Cerberus Capital Management LP, the New York-based investment firm that owns the largest U.S. gunmaker, will put the company up for sale, acting four days after one of its rifles was used in the Connecticut school shootings that left 26 people dead, including 20 six- and seven- year-olds.
Ally Financial Inc. investors who bought $2.38 billion of stock in an initial public offering yesterday join hedge fund manager Dan Loeb and private equity executive Stephen Feinberg seeking to profit from auto lending.
Cerberus Capital Management LP plans to allow some investors to sell their stakes in Freedom Group Inc. a year after the Newtown, Connecticut, school shooting that prompted Cerberus to put the gunmaker up for sale, according to two people with knowledge of the matter.
The father of Stephen Feinberg, the founder of the private-equity firm that owns gunmaker Freedom Group Inc., lives in the town where a Freedom Group-made rifle was used to kill 26 people in an elementary school.
Ally Financial Inc., the largest U.S. auto lender, enlisted Cerberus Capital Management LP’s Lenard Tessler to help oversee turnaround efforts and salvage the government’s $17.2 billion investment, four people with knowledge of the matter said.