Problems for Cerberus Capital

Don’t know if this will affect Remington or their Illion facility, “Clients Flee Cerberus, Fallen Fund Titan“:

“… Investors in hedge funds run by Cerberus Capital Management LP, whose audacious multi-billion dollar bet on the U.S. auto industry went bust, are bolting for the door, clinching one of the highest-profile falls from grace of a superstar in the investment world. Clients are withdrawing more than $5.5 billion, or nearly 71% of the hedge fund assets, in response to big investment losses and their own need for cash, according to people familiar with the matter …”

H/T: Say Uncle