“Cerberus Capital Management's 2006 deal for finance firm GMAC was billed as a bet that no one else was willing to take. Wednesday, it showed why, with a partner in the deal disclosing that it had lost roughly 26% of the value of its piece of the $8 billion investment.
While the private equity firm has acknowledged it has "significant concerns" with GMAC, it has been short on specifics. Wednesday, Aozora Bank Ltd., a Japanese bank that invested in the deal, disclosed that it booked a $130 million loss on its $500M equity investment in GMAC. Cerberus is Aozora's largest shareholder.” (Wall St. Journal, Apr. 24th)