Sunday, 25 January 2015
Last updated 2 days ago
May 1 2008 | 2:00am ET
Alternative investments giant Cerberus Capital Management will not invest in controversial security firm Blackwater Worldwide, it said yesterday.
Cerberus had been in talks to invest $200 million in Blackwater, with its auditors reportedly looking at Blackwater’s books since the beginning of the year. But ABC News says that the talks have broken down, with a Cerberus spokesman saying the firm had decided not to pursue a deal with Blackwater.
Blackwater has hundreds of millions in contracts with the U.S. government for providing security in Iraq. The firm has been the subject of intense controversy over its practices in that war-torn country, as well as alleged arms trafficking and overbilling.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…