Reuters reveals Cerberus seeks $3 billion for flagship private equity fund

Reuters broke the news that Cerberus Capital Management LP is seeking $3 billion for its latest flagship fund, which will pursue investments ranging from private equity to the debt of companies in financial distress. Founded in 1992 by Stephen Feinberg and William Richter, New York-based Cerberus has more than $48 billion in assets under management spread across credit, private equity and real estate.