Cerberus Capital Management, L.P.
is one of the largest private equity
investment firms in the United States
. The firm is based in New York City
, and run by -year-old financier Steve Feinberg
. Former U.S. Vice President Dan Quayle
has been a prominent Cerberus spokesperson and runs one of its international units.
The firm's headquarters are located at 299 Park Avenue
in New York City
Founded in 1992, Cerberus
is named for the mythological three-headed dog
that guarded the gates of Hades
. Feinberg has stated to his employees that while the Cerberus name seemed like a good idea at the time, he later regretted naming the company after the mythological dog.
The company has been a very active acquirer of businesses over the past several years and now has sizable investments in automotive, sportswear, paper products, military services, real estate, energy, retail, glassmaking, transportation, and building products. In 2006, its holdings amounted to $24 billion.
On October 19, 2006, John W. Snow
, President George W. Bush
's second Treasury Secretary
, was named chairman of Cerberus.J. Ezra Merkin
is a partner in Cerberus. Merkin invested his funds into Cerberus and its portfolio companies. His Gabriel fund invested $79 million in Chrysler, $66 million in GMAC and $67 million in Cerberus partnerships, according to year-end statements. The Gabriel Fund was a feeder fund
for Bernard L. Madoff Investment......