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 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.
Cerberus Capital Management LP, the private-equity firm led by Stephen Feinberg, has raised $1.32 billion for a middle-market loan fund that will seek to take advantage of a pullback in lending, a marketing document shows.
Cerberus Capital Management LP said Robert Nardelli will leave his post as head of its operations and advisory business and become an adviser to Stephen Feinberg, the firm’s founder and chief executive officer.
Lenders could lose $168 billion if banks sell loans into the Public-Private Investment Partnership at market prices instead of their balance-sheet valuation, Jamie McGee and Margaret Chadbourn of Bloomberg News report, citing estimates in regulatory filings.
KKR & Co. hired David Petraeus, the former director of the Central Intelligence Agency, to run a new unit for public policy, economic research and emerging-market due diligence at the private-equity firm.