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Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Protesters Want Cerberus Capital to Sell Stake in Rifle Manufacturer

Sep 25, 2013
Jing Chen

Demonstrators from Newtown, Conn. protested outside of Cerberus Capital Management on Tuesday to make sure that the hedge fund firm follows through on its promise.

CBS reported that 50 people gathered outside of Cerberus Capital’s New York office to make sure that the firm would sell its stake in Freedom Group Inc., one of the nation’s biggest makers of guns and ammunition.

The firm announced in a statement shortly after the shooting that took place at the Sandy Hook Elementary School in Newtown, Conn. last December that it would sell its stake in the gun maker. One of Freedom’s Group’s products is the Bushmaster rifle, which was used during the shooting that left 26 people dead.

The article also said that Po Murray of Newtown Action Alliance tried to deliver a letter to Cerberus, but was denied entry to the firm.

Established in 1992, Cerberus manages over $20 billion in assets.

Source: 

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