FROM FORBES: Named after the mythical three-headed dog that guards the gates of hell, Cerberus Capital Management has become a driving force among private equity firms.
One of its more recent moves is the purchase of 80% of Chrysler from Daimler in 2007.
Cerberus was also the lead investor of a group that acquired 51% of GMAC, the financing arm of General Motors.
The company also owns bus manufacturer Blue Bird and car parts maker TA Delaware (formerly Tower Automotive). Other holdings include a 45%-stake in Japanese bank Aozora, real estate services firm LNR Property, and a 52%-stake in ACE Aviation Holdings, the parent company of Air Canada.
>>Other holdings include a 45%-stake in Japanese bank Aozora, real estate services firm LNR Property
Ah, I forgot about LNR!
LNR Property was a principal in the miraculous disappearance last year of about $1 Billion of Calpers funds. (okay... not disappearance, more like musical chairs.) It was a risky joint venture land deal called “Landsource” that involved Calpers, Lennar, and Cerberus/LNR Property. Landsource filed for bankruptcy shortly before the RE market tanked.
http://www.sacbee.com/opinion/story/1518469.html
CalPERS made a bet – and lost
I forget the gory details but there are several articles on FR
http://www.freerepublic.com/tag/landsource/index
http://www.freerepublic.com/tag/calpers/index