Cerberus Capital Management has penned a USD 1 bln deal with Turkish financial player Garanti to invest in buyouts in the Turkish market. The initial funding will be USD 400 mln each, with further PE funds coming in from other investors. The investment range will be between USD 20 and 250 mln; with ten acquisitions already planned, 80 percent of that will be made in Turkey, with the remaining in neighboring countries.
Garanti Securities (www.garanti.com.tr)
Garanti Securities is a premier banking institution based in Turkey which offers SME, retail and commercial banking locally and overseas. The bank is overseen by a board of directors chaired by Ferit Faik Şahenk, who is also chairman of Doğuş Group, with Ergun Özen heading the company as CEO and President.
Cerberus Capital (www.cerberuscapital.com)
Cerberus Capital Management L.P. is a global private investment firm established in 1992. Their holding period is typically long-term as the company invests funds and operational expertise on undervalued and underperforming organizations. Portfolio companies include Austrian bank Bawag P.S.K., German real estate company GSW Immobilien AG and others across the globe. The firm is headed by co-founder, CEO and Senior Managing Director Stephen A. Feinberg.