Sunday, 21 December 2014
Last updated 1 day ago
Dec 22 2010 | 11:43am ET
Not long ago, Cerberus Capital Management’s purchase of Chrysler looked like a disaster. Now, it looks more like a bad idea.
The New York-based alternative investments firm will be left with just a 10% loss on its investment in the auto maker following Toronto-Dominion Bank’s acquisition of Chrysler’s former lending unit, Bloomberg News reports. Cerberus took a majority stake in Chrysler in 2007 for $7.4 billion. Just a year later, it was forced to give up control to win government bailout funds for the failing company.
But Cerberus held onto Chrysler Financial, until now. TD will pay about $6.3 billion for the unit; Cerberus will retain about $900 million in assets.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.