Cerberus nabs Apollo’s ex-NPL head for credit expansion

London-based David Abrams will use his distressed debt experience to source opportunities in Europe and the emerging markets as well as drive the expansion of the firm’s credit business.

Cerberus has hired former Apollo managing partner David Abrams to expand its credit platform. 

Abrams joins Ceberus UK Advisors as senior managing director and will focus on distressed opportunities in the emerging markets and Europe from his base in London, Cerberus said. 

Abrams was managing partner of Apollo Management’s European Principal Finance Funds business, which focuses on buying distressed debt, real estate and non-performing loan portfolios. 

“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,” said Steve Feinberg, co-founder and chief executive officer of Cerberus. 

Abrams’ CV includes more than 10 years at global investment bank Credit Suisse where he first helped found the global distressed sales and trading group before establishing the bank’s specialty finance business in 2004. 

New York-headquartered Cerberus Capital Management has more than $28 billion in assets under management across four primary strategies: distressed securities & assets; control and non-control private equity; commercial mid-market lending; and real estate-related investments.