Cerberus Hires Apollo Credit Specialist Abrams for U.K. Unit

Jan 4 2016 | 7:17pm ET

Cerberus Capital Management has hired former Apollo Management executive David Abrams as senior managing director of the company’s Cerberus UK Advisors unit.

Abrams will play an integral role in expanding the firm's credit platform, according to the company. He will focus on =unique and compelling distressed opportunities in the emerging markets, Europe and other sectors of interest, and will be based in London.

At Apollo, Abrams was founder and managing partner of the Apollo European Principal Finance Funds franchise, which had €4 billion in AUM and a primary focus on acquiring distressed debt, real estate and non-performing loans.

"We are very fortunate to welcome David to our Cerberus team,” said Steve Feinberg, co-founder and CEO of Cerberus, in a statement. “David has an excellent investment track record and his success in developing new businesses and in raising capital will greatly strengthen our ability to connect with our investors and present them with attractive opportunities."

Prior to joining Apollo Management, Abrams was a managing director in the leveraged finance group of Credit Suisse. From 1996 through 2004, David was a founding member and co-head of the global distressed sales and trading group at Credit Suisse and its predecessor Donaldson Lufkin & Jenrette. He began his career in 1989 as an analyst at Bear Stearns.

Founded in 1992, Cerberus Capital Management is one of the world's leading private investment firms, with more than $28 billion in assets under management across distressed securities, private equity, commercial mid-market lending and real estate.

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