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  6. Cerberus Capital Management Acquires FirstKey

M&A Deal Summary

Cerberus Capital Management Acquires FirstKey

On January 1, 2015, asset manager Cerberus Capital Management acquired real estate company FirstKey

Acquisition Highlights
  • This is Cerberus Capital Management’s 4th transaction in the Real Estate sector.
  • This is Cerberus Capital Management’s 31st transaction in the United States.
  • This is Cerberus Capital Management’s 4th transaction in New York.

M&A Deal Summary
Date 2015-01-01
Target FirstKey
Sector Real Estate
Buyer(s) Cerberus Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

FirstKey

New York City, New York, United States
FirstKey provides acquisition and property management services to a diverse portfolio of single-family rental homes across the United States. The services provided by FirstKey include leasing, rental collection, credit screening, repairs and maintenance, construction, renovation oversight services, and quality control. FirstKey was founded in 2015 and is based in New York City, New York.

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Buyer(S) 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

DEAL STATS #
Overall 44 of 93
Sector: Real Estate M&A 4 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 27
State: New York M&A 4 of 5
Country: United States M&A 31 of 68
Year: 2015 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-04 Deb Shops

Philadelphia, Pennsylvania, United States

Deb Shops is a mall-based, specialty retailer of fashionable, value-priced apparel and accessories for junior females in both regular and plus sizes. Headquartered in Philadelphia, PA, the Company operates over 340 stores in the U.S. principally under two store formats: junior only and junior / plus combination.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-18 GCBE

Barcelona, Spain

GCBE is an independent servicing platform in the unsecured consumer debt segment, specializing in the collection of all types of debts for financial institutions, corporations and distressed debt investors. GCBE was founded in 1980 and is based in Barcelona, Spain.

Buy -
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