Cerberus Forges $400M Investment Deal With Turkish Bank

Law360, New York (October 4, 2011, 4:20 PM EDT) -- Private equity giant Cerberus Capital Management LP is keying in on the Turkish market and has teamed up with Garanti Bank to invest $400 million in Turkey as a prelude to the creation of a $1 billion jointly managed fund next year, the parties announced Tuesday.

Cerberus Turkey LLC and Garanti Securities, a subsidiary of the private Turkey-based bank, inked an agreement to invest an initial $400 million while they focus on raising additional capital in 2012 for a $1 billion private equity fund, according to...
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