Schulte Roth & Zabel represented Cerberus Capital Management, L.P. in connection with the formation of, and raising of capital by, Cerberus Institutional Partners VII, L.P. (including its feeder and parallel funds, collectively, “CIP VII”), the seventh of the private investment firm’s flagship institutional partners funds.
Schulte has represented Cerberus in connection with all seven of its institutional partners fund launches. These funds pursue an opportunistic strategy, with an emphasis on global credit and private equity. The CIP VII strategies leverage Cerberus’ integrated investment platform and proprietary operating expertise to invest in residential and commercial mortgage securities and assets, corporate credit, stressed and distressed corporate debt, non-performing loan portfolios and structured products, and private equity, as well as opportunistic investments in other areas and special situations. CIP VII and its predecessor vehicles have collectively raised over $18 billion.
Cerberus is a global leader in alternative investing with approximately $65 billion in assets under management across complementary real estate, credit and global private equity strategies. Specifically, Cerberus’ global credit and private equity platforms manage approximately $49 billion of corporate credit, direct lending, mortgage securities and assets and are leading investors in opportunistic, undervalued, stressed and distressed assets and/or special situations.
The Schulte team advising Cerberus was led by Investment Management partners Jason Kaplan and Peter Naismith, Tax partners Alan Waldenberg and David Wermuth, Employment and Employment Benefits partner David Cohen, and Finance partner Dan Oshinsky. The team also included Investment Management special counsel Chris Freeman and Finance special counsel Farzaan Ijaz, with Investment Management associates Sean Cunningham, Sarah Heberlig and Milagros Lopez, and Tax associates Michael Jaroslawicz and Hannah Wells.