Dogged lending to hounded firms helps Cerberus expand its niche; Offers big bucks where others fear to tread.(Cerberus Capital Management)(Brief Article)(Statistical Data Included)

Crain's New York Business,  November, 2000  by wipperfurth, heike

Tags: asset, Cerberus Capital Management

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Dealing with troubled businesses can be a lucrative enterprise, especially in the case of Cerberus Capital Management. The Manhattan-based company makes successful bets on underperforming firms. Today, 15-year-old Cerberus runs 10 hedge funds with $6.4 billion in assets, which invest in distressed securities and asset-based lending funds.

That's up from just one hedge fund with $100 million under management eight years ago. Now the company-named after the three-headed watchdog that guards the entrance to the underworld in Greek mythology-has plans to expand its business of ...

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