Cerberus Capital Management

New York – October 15, 2026 -- The Ad Hoc Group of Term Lenders to Leslie's, Inc. intends to appoint Steven L. Ortega as chief executive officer of the pool and spa care retailer once it emerges from chapter 11 proceedings.

Leslie's describes itself as the largest direct-to-consumer brand in the U.S. pool and spa care industry. Ortega will advise the lender group and sit on a transformation committee for the duration of the bankruptcy case. The committee will advise on strategy and turnaround priorities.

Ortega returns after nearly two decades of senior roles at Leslie's

Ortega previously worked at Leslie's for almost 20 years. He served as chief financial officer, chief operating officer, president and CEO, and later as chairman of the board of directors.

New York – September 13, 2026 -- Cerberus Capital Management has agreed to acquire a substantial part of the Mechanical Engineering Division of Goodwin plc for a headline cash consideration of up to approximately £1.1 billion, subject to customary purchase price adjustments. The deal is expected to close in the first quarter of 2027, pending regulatory approvals and other customary closing conditions.

Deal covers five businesses serving global defense and nuclear markets

The transaction includes Goodwin Steel Castings Limited, Goodwin International Limited, Noreva GmbH, Easat Group, and the Pump Division. These units supply proprietary design, advanced manufacturing, and technical expertise to aerospace and defence, nuclear, power, and mining customers worldwide.

New York – September 13, 2026 -- Cerberus Capital Management has sold its equity stake in Tenet Equity to CBRE Investment Management for $1.6 billion, exiting a net lease platform it built from scratch five years ago.

Tenet's portfolio spans 200 properties across 39 states

The company's holdings total approximately 12 million square feet across 26 industries and more than 65 tenants. CBRE Investment Management is acquiring the stake on behalf of several of its investment strategies.

Cerberus founded Tenet in 2021 with industry executives

Cerberus launched the platform alongside Executive Partners Nick Eggert and Andrew Gallagher, building a management team focused on triple net lease financing for middle-market companies and financial sponsors. Tom Wagner, Head of North American Real Estate at Cerberus, said the firm established Tenet as a reliable capital source for growing middle-market companies.