Centerbridge Partners
Reputation? Are they legitimate?
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yes
Centerview?
What do you want to know about them? Pretty big fund and fairly active lately.
Centerbridge - Any info? (Originally Posted: 01/28/2011)
Not much on this forum about these guys. Anyone have any info?
I think they have a distressed focus. Founders from Angelo Gordon Distressed and Blackstone PE. At least from checking Linkedin, associates come from top IBD groups
Hybrid distressed/PE. Raising a second fund now and starting to harvest some stuff from the first; they also have a non-control distressed fund. I've heard that if you come in and they like you, you're pushed onto a PE track (Even if you came in doing distressed debt). As noted, the foudners are the former head of BX PE (Go Irish) and the former head of Angelo, Gordon distressed debt.
They had a buyout in place for Penn National Gaming w/BX that fell through. They've got a couple of financial-services portfolio companies (BankUnited, Green Tree Loan Servicing) but I think that was just where the opportunity was.
You see them as coinvestors on some deals with really big players (BankUnited for example), which makes sense I guess given the big-time connections of the founders.
Centerbridge to return $500mm to investors (Originally Posted: 10/01/2012)
From the FT:
"Centerbridge Partners, the $20bn hedge fund and private equity investment firm, is returning $500m to investors in its Credit Partners hedge fund, in an illustration of the double-edged effect that easy money policies are having on the debt market."
The credit fund has been sitting on top of $2 B in cash unable to find godo opportunities to deploy the capital. Granted a lot of this has to do with the fact that at this point most of the low hanging distressed fruits are gone, still this is a good problem to have at a time when many experienced GPs are having trouble raising a lot less money.
They could short Sallie Mae before the impending doom.
Centerbridge - Mega level funds (Originally Posted: 04/01/2008)
What do you guys think? Sounds like a sick opportunity -- Aronson and Gallogly former heads of AG Distressed and Blackstone PE. How does this compare against some of the mega level funds; know lots of people considering this place as they dont necessarily have to go back to b-school
opportunity, founders have great backgrounds. Still don't have track record as a firm obviously, their one officially signed deal is going to fall apart (Penn National with Fortress) and I think they are trying to do some stuff in the distressed auto space which isn't working out. Wouldn't call a sick opportunity, just another in the list of very good ones out there
Bumping this-anyone ever work at Centerbridge credit? Do they invest in club/mezz deals or exclusively distressed?
I'm going to bump this again.
Anyone have any insight into the structure here? At the associate level, is there a distinction between the credit team and the PE team?
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