Cerberus-Controlled Japanese Bank Burned By Hedge Funds

Jul 31 2008 | 12:22pm ET

A Japanese lender controlled by private equity firm Cerberus Capital Management is having difficulty with another part of the alternative investment world.

Aozora Bank blamed its hedge fund investments in part for its plummeting fiscal first-quarter profit. The firm said today that net income fell to ¥9.33 billion (US$86.6 million), down 75% from the ¥37 billion it made a year earlier. A decline in fees collected was also noted as a cause of the shrinking profit.

Cerberus earlier this month struck a deal to pay as much as US$416 million to raise its stake in Aozora to 46%.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note