Stumbled on something interesting when looking up Cerberus to make sure I was spelling it correctly. (TheEternalJew)
submitted by s23erdctfvyg to TheEternalJew 3.4 years ago
4 comments

Sorry in advance for quoting basically the entire page, but damn it's juicy.
Cerberus Capital Management
https://en.wikipedia.org/wiki/Cerberus_Capital_Management
>Cerberus Capital Management, L.P. is an American private equity firm,[2] specializing in distressed investing.[3] The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.[4] Cerberus has around US$45 billion under management in funds and accounts. The company is a U.S. Securities and Exchange Commission Registered Investment Adviser.[5] Investors include government and private sector pension and retirement funds, charitable foundations, university endowments, insurance companies, family savings and sovereign wealth funds.[2]
Steve Feinberg
https://en.wikipedia.org/wiki/Steve_Feinberg
>Stephen Andrew Feinberg (born March 29, 1960) is an American businessman and investor active in hedge fund management and private equity.[1] He is the co-founder and Chief Executive Officer (CEO) of Cerberus Capital Management. As of March 2019, his net worth is US$1.5 billion.[2] In 2017 Cerberus also owned DynCorp, which is a major national security contractor with the US government, charging billions for overseas military and police training.[3] On May 11, 2018, U.S. President Donald Trump named Feinberg to head the President's Intelligence Advisory Board.[4]
Early life, as expected.
>Feinberg was born to a Jewish family[5][6] and raised in The Bronx, New York. When aged eight, his family moved to Spring Valley, New York,[7] a suburb of New York City. His father was a steel salesman.[7] He graduated with an A.B. in politics from Princeton University in 1982 after completing a 94-page long senior thesis titled "The Politics of Prostitution and Drug Legalization."[8][9] While a student at Princeton, Feinberg captained the tennis team and joined the Reserve Officers' Training Corps.[7]
Professional Career
>After graduating from college, Feinberg worked as a trader at Drexel Burnham in 1982 and later at Gruntal & Co..[10] In 1992, at the age of 32, Feinberg co-founded Cerberus Capital Management with William L. Richter.[10] At the time the firm had $10 million under management; its assets under management have since grown to over $30 billion in 2016.[11][12] In 1999, the firm hired former vice president Dan Quayle as a chairman of Cerberus Global Investment.[13] In 2006, the firm hired former United States Secretary of the Treasury John Snow, who serves as a chairman of Cerberus.[14] In May 2011, Feinberg stated that he believed residential mortgage-backed securities may present "a real opportunity for continued investment for quite a period of time"[15] and that there were opportunities in buying assets from European banks. Feinberg has been critical about the pay received by private equity executives, stating, "In general, I think that all of us are way overpaid in this business. It is almost embarrassing."[16] He has also noted in comments made in 2011 that smaller private equity fund sizes may be better for investor returns: "If your goal is to maximize your return as opposed to assets under management, I think you can be most effective with a big company infrastructure and a little bit smaller fund size."[16] Feinberg has been described as "secretive" in The New York Times.[17] In 2007, Feinberg told Cerberus shareholders, "If anyone at Cerberus has his picture in the paper and a picture of his apartment, we will do more than fire that person. We will kill him. The jail sentence will be worth it."[18] Cerberus is the parent company of DynCorp, which is a major national security contractor with the U.S. government.[3] Cerberus owned Freedom Group, the company that owned Remington, the manufacturer of the gun that was used at the 2012 Sandy Hook Elementary School shooting.
Political Involvment
>Feinberg is a major Republican donor.[19] In 2016, he served on the Trump Economic Advisory Council during Donald Trump's presidential campaign, donated nearly $1.5 million to pro-Trump PACs, and co-hosted a $50,000 per person Republican National Committee and Trump fundraising dinner alongside other financiers.[20][21] In February 2017, the New York Times reported that President Trump will assign Feinberg a role in the White House leading a review of the US intelligence agencies.[22] He is a member of The Business Council in Washington, DC, an association of chief executive officers from a broad range of companies who meet several times a year for high-level policy discussions.[23][24]