Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of the underworld, is on the verge of becoming Germany’s leading ship financier.
The New York-based hedge fund has teamed up with private equity rival Centerbridge to make a joint bid for a major stake in restructuring German lender Nord/LB.
A successful bid could see Cerberus emerge as the largest financier of the German fleet with loans linked to nearly 1,000 vessels, according to estimates by German financial sources.
