Cerberus Capital Management is a New York City-based private equity firm established in 1992 that specializes in distressed company investments. With affiliates and advisory offices in the United States, Asia and Europe, Cerberus currently has more than $20 billion in assets under management (AUM). It is a U.S. Securities and Exchange Commission Registered Investment Advisor (RIA) and has investors in the government and private sectors and that include universities, charitable foundations, pension and retirement funds and insurance companies.
Areas of Focus
Cerberus has acquired several companies over the past few years. It has invested in companies in a variety of industries, including health care, government services, financial services, natural resources, commercial and retail services, real estate and travel. The firm's investment portfolio contains more than 40 companies from around the world, and typically holds companies for at least five years.
Cerberus has a number of active operations. Among them, it invests in private equity, acts as a lender, performs specialty financing, invests in real estate and also trades securities. As of 2011, it also took a vested interest in the opportunities that mortgage-backed securities may provide.
Cerberus Operations & Advisory Company LLC
Cerberus actively maintains the Cerberus Operations & Advisory Company (COAC) to support its due diligence and to assist its portfolio companies. COAC is comprised of more than 100 staff members, at least half of which are also employed by companies in the firm's portfolio. Members of the COAC staff conduct due diligence, plan acquisitions, staff special projects and help control private equity investments.
Stephen Feinberg is a founder and the Chief Executive Officer (CEO) of Cerberus. He previously managed assorted capital sources for Gruntal & Company and a number of its accounts from 1985 to 1992. He graduated from Princeton University and is a member of various committees at Cerberus, including the Europe distressed debt investment, allocation, brokerage and lending committees.
William Richter is another founder of Cerberus, and serves as the firm’s Senior Managing Director. He is also the President of merchant bank Richter Investment Corp., and was the Chairman of Nexus Industries Inc. from the 1970s to 1982. He graduated from Harvard and received his MBA from Harvard Business School.
Mark Neporent joined Cerberus in 1998, and serves as a general counsel, Chief Operating Officer (COO) and Senior Managing Director. Before joining the firm, he was a partner and associate at the law firm Schulte Roth & Zabel LLP, where he performed a substantial amount of work for Cerberus. He has nearly three decades of experience in distressed securities, high-yield finance and bankruptcy. He graduated from Lehigh University and Syracuse College of Law. He is part of the allocation, brokerage and valuation committees at Cerberus.
Rounding out Cerberus' senior leadership team are Chief Administrative Officer (CAO) Seth Plattus, Chief Financial Officer (CFO) Jeffrey Lomasky, Chief Compliance Officer (CCO) Andrew Kandel, Chairman of Cerberus Global Investments LLC J. Danforth Quayle, and John Snow, the Chairman of Cerberus Capital Management.
Investment Strategies Heads
Frank Bruno is the President of Cerberus Global Investments LLC and one of its Senior Managing Directors. He joined Cerberus in 1998, and is responsible for managing Asian, European and Latin American businesses for the firm. Prior to working at Cerberus, Bruno was a Vice President at Merrill Lynch and for Weber Management Consultants.
Robert Davenport is the Head of investments in distressed corporations, and a Senior Managing Director of Cerberus Capital Management and Cerberus California LLC. He joined Cerberus in 1996. He graduated from the University of California.
Kevin Genda is the Chairman of U.S. Lending Business, as well as a Senior Managing Director at Cerberus. Prior to joining Cerberus in 1995, he served as the Vice President for new business evaluation at Foothill Capital Corp. from 1992 to 1995. He is a Yale University graduate.
W. Brett Ingersoll is a Co-Head of Global Private Equity and a Senior Managing Director at Cerberus. Prior to joining the firm in 2003, he was a partner at J.P. Morgan Partners, focusing primarily on private equity and business restructuring throughout various industries.
Ronald Kravit is a Co-Head of U.S. Real Estate Investing, a managing member of Cerberus Real Estate Capital Management LLC and a Senior Managing Director at Cerberus Capital Management. Before joining the firm in 1996, he was a Managing Director at Apollo Real Estate Advisors LP, where he specialized in developing new businesses, asset management and acquisitions. He graduated from Georgetown University and received his MBA from The Wharton School of Business.