Cerberus Capital Management announced today David Abrams was appointed Senior Managing Director of Cerberus UK Advisors, Ltd in its London office.  He will play an integral role in expanding the firm's credit platform, focus on pursuing unique and compelling distressed opportunities in the emerging markets, Europe and other sectors of interest.

Abrams joins from Apollo Management, where he founded and was the Managing Partner of the Apollo European Principal Finance Funds franchise which had €4 billion in AUM with a primary focus on acquiring distressed debt, real estate and non-performing loans.

Steve Feinberg, Co-founder and Chief Executive Officer of Cerberus said, "We are very fortunate to welcome David to our Cerberus team.  David has an excellent investment track record and his success in developing new businesses and in raising capital will greatly strengthen our ability to connect with our investors and present them with attractive opportunities."

Mark Neporent, Chief Operating Officer and General Counsel of Cerberus said, "We are thrilled to have added David, whom we have known and worked with for many years.  David will enhance our strong European franchise and will help us further capitalize on the deleveraging of European financial institutions.  We are one of the largest and most active investors in European non-performing loans and other distressed credit.  David's experience will greatly benefit us as we pursue this category across the continent and into the emerging markets."

Abrams stated "I am excited to be joining Cerberus and look forward to working with individuals that I have known both personally and professionally for nearly 20 years.  Cerberus has an incredible platform and we see tremendous growth potential in our investment disciplines of distressed debt, real estate, direct lending and private equity."

Prior to joining Apollo Management, David was a managing director in the Leveraged Finance Group of Credit Suisse, based in London and New York.  From 2004 through 2007, he founded and was the Head of the Specialty Finance Investment business which included investing in non-performing loan portfolios and distressed assets.  From 1996 through 2004, David was a founding member and Co-Head of the Global Distressed Sales and Trading Group at Credit Suisse (and its predecessor Donaldson Lufkin & Jenrette, Inc.). 

Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Cerberus has more than US $28 billion under management invested in four primary strategies: distressed securities & assets; control and non-control private equity; commercial mid-market lending and real estate-related investments. From its headquarters in New York City and large network of affiliate and advisory offices in the U.S., Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors, through multiple investment strategies in countries around the world.