Latest news with #CerberusCapitalManagement
Bloomberg
a day ago
- Business
- Bloomberg
Cerberus CFO Deirdre O'Connor to Depart, Replaced by Andrew Leitten
Cerberus Capital Management 's Chief Financial Officer Deirdre O'Connor has departed the investment management firm, according to people familiar with the matter. Andrew Leitten, a finance director who has been at Cerberus for more than 14 years, will become CFO, according to the people, who asked not to be identified discussing a private matter.
Epoch Times
7 days ago
- Business
- Epoch Times
Trump-Linked US Firm Circles Port of Darwin Amid Calls to End 99-Year Chinese Lease
U.S. investment firm Cerberus Capital Management, which is linked to the Trump administration, has shown interest in taking over the Chinese-leased Port of Darwin. Before the federal election on May 3, both the Albanese government and the federal opposition pledged to take back the port from the Beijing-linked company, Landbridge. 'We've been informally engaging with potential buyers for some time,' Prime Minister Anthony Albanese On May 28, Terry O'Connor, Landbridge's non-executive director for Australia, confirmed that a representative from Cerberus had met with Darwin Port's management, but had not made an offer for the asset. 'In that meeting [Cerberus] expressed interest about potential investment in the port, given that the company had a fairly high investment portfolio around the world,' he told the ABC. 'There's certainly been no prices negotiated [for the port], no prices even discussed or raised. 'We would see Cerberus's interest as the same level of interest as we've received from multiple other companies who have talked to the port [management] over the past couple of months.' In 2015, the Northern Territory's then-Country Liberal Party government leased the port to Landbridge on a 99 year deal valued at $506 million. The agreement raised national security concerns, including from former U.S. President Barack Obama, prompting the Turnbull Liberal government to strengthen asset sale regulations through the Foreign Investment Review Board. Who is Cerberus? Known for its expertise in distressed asset acquisitions, Cerberus Capital Management manages approximately $65 billion in assets, spanning sectors such as military, automotive, real estate, and aviation. In March, the U.S. Senate In this capacity, Feinberg will serve as the Department of Defense's chief operating officer, overseeing day-to-day management and executing the Secretary of Defense's strategic priorities. Xiao Qian, the Chinese Communist Party (CCP) Ambassador to Australia, issued a strong rebuke of the Australian government's plan to reclaim the port lease. 'It is ethically questionable to lease the port when it was unprofitable and then seek to reclaim it once it becomes profitable,' he said in a statement published on his website on May 25. This statement came days after his trip to Darwin, where he visited the port, met with staff at Landbridge, and took questions from both Chinese and Australian media. The Epoch Times has reached out to Landbridge, the Prime Minister's Office, and the Northern Territory government for comment.
Bloomberg
27-05-2025
- Business
- Bloomberg
Private Equity Targets Contested Port of Darwin
Morning. Rich Henderson here in Bloomberg's Melbourne bureau with the latest headlines... Today's must-reads: • Private equity targets Port of Darwin • Productivity reform priorities • New Zealand primes for rate cut US private equity group Cerberus Capital Management has expressed an interest in buying the lease for the Port of Darwin, which is currently owned by Chinese company Landbridge Group. The move is the latest in a politically charged commercial arrangement following the 2015 decision to sell the lease to the Chinese firm.
AU Financial Review
27-05-2025
- Business
- AU Financial Review
Toll, super funds join suitors for Chinese-owned Darwin Port
Logistics powerhouse Toll is part of a US private equity fund's bid to buy out the Chinese owner of the Port of Darwin, offering an Australian flavour to a transaction being driven by national security imperatives that superannuation funds are also weighing up. The partnership by Toll and Cerberus Capital Management is just one potential suitor for the port, which is effectively on the market after Prime Minister Anthony Albanese pledged during the election campaign to terminate Chinese company Landbridge's 99-year lease on the key cargo gateway for northern Australia.
Sky News AU
27-05-2025
- Business
- Sky News AU
‘Golden opportunity': US-based group interested in purchasing Darwin Port lease
Strategic Analysis Australia Peter Jennings discusses interest from US private equity firm Cerberus Capital Management in buying the lease of the Port of Darwin from the Chinese-owned company Landbridge Group. 'I think Albanese has a golden opportunity here because, for the first time, there is a company with a serious interest in wanting to take over the port facility,' Mr Jennings told Sky News host Peta Credlin. 'Cerberus, I think, has an interest in Northern Australian infrastructure with a mind towards defence and security.'
