A rundown of the Caritas deal

Cerberus - which takes its name from the mythical three-headed dog that guards the gates of hell - is perhaps best known for two big gambles that went spectacularly wrong: Its acquisitions of Chrysler Corp. and GMAC, both of which ultimately required huge government bailouts and lost billions for Cerberus and its partners. At right, Cerberus Capital Management chairman John Snow (left) listened in May 2007 as DaimlerChrysler chief executive Dieter Zetsche said the company would hand control of the struggling automaker to Cerberus after a nine-year investment in the company.
Thorsten Jochim/Bloomberg News/File 2007

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Cerberus - which takes its name from the mythical three-headed dog that guards the gates of hell - is perhaps best known for two big gambles that went spectacularly wrong: Its acquisitions of Chrysler Corp. and GMAC, both of which ultimately required huge government bailouts and lost billions for Cerberus and its partners.

At right, Cerberus Capital Management chairman John Snow (left) listened in May 2007 as DaimlerChrysler chief executive Dieter Zetsche said the company would hand control of the struggling automaker to Cerberus after a nine-year investment in the company.