Firm: Centerbridge Partners
Fund: Centerbridge Special Credit Partners LP
Amount Raised: $467.1 million
No target has been set for the debt fund, which follows
Centerbridge wasn’t immediately available for comment.
Centerbridge tapped the buyout fund for its recent club investment in BankUnited, a Coral Gables, Fla., bank, alongside
Known for keeping its cards close to the vest, Centerbridge has been making headlines of late. In addition to the coverage generated by the BankUnited deal, the firm has also been embroiled in a controversy involving the June 15 bankruptcy filing by hotel chain Extended Stay America. According to various media reports, the firm is being sued along with
Debt investing was very much on Aronson’s mind last summer when he reportedly told attendees of a June 2008 conference sponsored by the Wall Street Journal that Centerbridge had spent “billions of dollars” buying loans and high-yield bonds from banks in the preceding months. Prior to founding Centerbridge with Gallogly in 2006, Aronson was a partner at Angelo, Gordon & Co. Gallogly had been a senior managing director at Blackstone.
Centerbridge’s investments include Dana Holding Corp., a Toledo, Ohio-based automotive components maker; Greatwide Logistics Services, a Dallas-based provider of transportation and distibution services; Green Tree Servicing; a St. Paul, Minn.-based consumer financial services company.