NEW YORK–(BUSINESS WIRE)–Cerberus Capital Management, L.P. (“Cerberus”) announced today that Matt Zames is stepping down as President of Cerberus and Chairman of Cerberus Technology Solutions (“CTS”).

Mr. Zames joined Cerberus three years ago. During his tenure, he led a number of investments in the financial services and technology industries, among other responsibilities, including overseeing the build out of Cerberus’ proprietary technology, data, and AI capabilities, and identifying and capitalizing on new investment strategies.

Mr. Zames was instrumental in establishing CTS, an operating subsidiary of Cerberus focused exclusively on applying leading technologies and advanced analytics to drive business transformations. Today, CTS is an industry-leading platform with more than 70 expert technologists organized across practice areas and domains.

“We are grateful for all of the contributions that Matt has made to Cerberus over the past few years,” said Steve Feinberg, Cerberus Co-Chief Executive Officer. “Among other things, he has helped us build a world-class technology platform, FIG advisory team, recruit top industry talent, and drive value in our investment portfolio. Although I am sorry to see Matt leave, I wish him the very best going forward.”

Mr. Zames commented: “I am proud of all that we have accomplished during my time at Cerberus. It is a tremendous firm and I have enormous respect for all my friends and colleagues. It has been a great run, and now is the right time for me to take a step back and assess what I want to do next.”

About Cerberus

Founded in 1992, Cerberus is a global leader in alternative investing with over $50 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. With over 80 managing directors and senior leaders who have been working together for over a decade, our tenured team has experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors.

Cerberus has a dedicated focus on next-generation technologies and telecommunication solutions. Our team of technologists and network of advisors collaborate across our investment and operating platforms to identify opportunities and manage investments in critical IoT, edge computing, artificial intelligence, private wireless networks, network equipment, autonomy, aerospace, and ecosystem development.

For more information about our people and platforms, visit us at www.cerberus.com.