资方抛售美校园枪击案涉案枪支生产商

    今天，受到密斯威森（Smith & Wesson）和斯图姆•鲁格公司（Sturm Ruger & Co.）等上市枪械制造商史股票价格暴跌的影响，自由集团的市值被人为压低。同时，我们很难想象会有哪一家公司会愿意从赛伯勒斯手中买下自由集团。近几年，赛伯勒斯一直试图将自由集团上市，但由于销售疲软和管理层整顿，一直未能如愿。笔者预测的最好结果是，一家外国枪械公司最终会以较大折扣买下自由集团。

    到目前，我们尚不确定自上周五以来，赛伯勒斯的有限责任合伙人给公司施加了多大的压力。昨天，我们曾报道，赛伯勒斯私募股权基金最大的投资者之一加州教师退休系统（California State Teachers' Retirement System，CalSTRS）在枪击事件发生后曾表示将对在自由集团的间接投资进行评估（之前发生的奥罗拉枪击案中，疑犯同样使用了“大毒蛇”步枪，但当时该机构并未发表类似声明）。事实上，加州教师退休系统等有限责任合伙人在完成最初的出资之后，除了二级出售其全部基金股份，其他也无能为力（因此，我认为该机构应该更加主动，而非被动响应）。当然，除非它与其他有限责任合伙人迫使赛伯勒斯做出今天上午的决定——提醒公司，有时候它们希望基金经理们更多关注理性，而非只关注金钱。

    最新消息：彭博社报道称，赛伯勒斯公司创始人兼CEO史蒂芬•费恩伯格的父亲是康涅狄格州纽敦市居民。目前尚不清楚这一点是否影响到了该公司的决策过程。

    译者：刘进龙/汪皓

    What we still don't know if what pressure, if any, Cerberus limited partners brought to bear on the firm since last Friday. Yesterday we reported that one of the largest investors in Cerberus private equity funds was the California State Teachers' Retirement System, which subsequently said it would review its indirect investment in Freedom Group (it made no such pledge following the Aurora shooting, where a Bushmaster rifle also was used).

    Truth is, however, an LP like CalSTRS really can't do much after the original fund commitment is made, save for a secondary sale of its entire fund stake (which is why I argued it should have been proactive, rather than reactive). Unless, of course, it and others helped prod Cerberus into this morning's decision -- reminding the firm that they sometimes want their fund managers to focus more on the sense than the dollars.

    Update: Bloomberg is reporting that the father of Cerberus founder and CEO Stephen Feinberg is a resident of Newtown, Connecticut. No word yet on if this factored into the firm's decision-making process...