Centerbridge Partners
| Company type | Private |
|---|---|
| Industry | Private equity, Investment management |
| Founded | 2005 |
| Founder | Jeffrey Aronson, Mark Gallogly |
| Headquarters | New York City , United States |
Area served | Global |
Key people | Jeffrey Aronson, Mark Gallogly |
| Products | Leveraged buyouts, Distressed securities, Private equity, Public debt investments |
| Website | www |
Centerbridge Partners, L.P. is a private investment firm employing multiple strategies, with a focus on leveraged buyouts and distressed securities. Headquartered in New York City and maintaining an additional office in London, the firm oversees assets exceeding $56 billion. Centerbridge targets both control investments—including private equity and public debt through a "loan-to-own" strategy—and non-control opportunities such as public market debt, equities, and various securities.
Established in 2005 by Jeffrey Aronson and Mark Gallogly, the company benefits from the founders' significant industry backgrounds—Aronson previously at Angelo, Gordon & Co., and Gallogly at the Blackstone Group. In 2006, Centerbridge launched its inaugural fund, raising $3.2 billion to pursue control investments in distressed assets and leveraged buyouts. Subsequently, between 2009 and 2010, it created Centerbridge Special Credit Partners, a $2 billion fund dedicated to non-control credit trading. By 2011, the firm closed its second main fund at $4.4 billion and followed with a second Special Credit Partners fund totaling $2 billion in 2012.
Among Centerbridge’s prominent investments are the acquisition of controlling interest in Extended Stay Hotels in 2010, the purchase of GMAC Commercial Finance (a division of Ally Financial), and the consolidation of Rock Bottom Restaurants with Gordon Biersch Brewery to establish CraftWorks Restaurants & Breweries. In 2012, the firm took ownership of the restaurant chain P. F. Chang's China Bistro. Expanding into clean energy, Centerbridge agreed to acquire Senvion SE in 2015 and also purchased Great Wolf Resorts, the largest indoor water park resort operator, for $1.35 billion.
In August 2016, Centerbridge joined other investment funds in providing €1.17 billion to rescue Spanish conglomerate Abengoa. The following January, it divested Vela Energy to Sonnedix for €600 million, transferring a portfolio comprising 136MWp across 43 solar photovoltaic plants located in Spain.
During the 2020 Democratic primary season, Centerbridge drew scrutiny due to political contributions connected to its role in acquiring distressed Puerto Rican debt through the Ad Hoc group—a coalition engaged in litigation seeking repayment on general obligation bonds.
Later that year, Centerbridge acquired a minority interest in online grocery retailer FreshDirect as part of a transaction alongside Dutch supermarket operator Ahold Delhaize.
External links
- Centerbridge Partners (official website)
- Centerbridge Partners (NYT Deal Book)