Cerberus Latest To Set Up Shop In Hong Kong

Feb 13 2007 | 9:07am ET

Cerberus Capital Management is opening an office in Hong Kong as part of a strategy to become active in China, the firm’s chairman said.

John Snow, the former U.S. Treasury secretary, told The Wall Street Journal that the $22 billion New York-based fund is expanding its Asian focus, which currently is on Japan, where it owns a controlling stake in Aozora Bank. Snow, who is in China this week lobbying for better corporate governance, said Cerberus is considering a number of possible transactions, including helping Chinese companies acquire overseas firms.

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