Cerberus expands in PH, to invest another P15B
New York-based private equity giant Cerberus Capital Management is looking to invest an additional $250 million (P15 billion) in shipyard improvement and key infrastructure projects in the Philippines.
In a statement on Friday, the Office of the Special Assistant to the President for Investment and Economic Affairs of the Philippines said Cerberus’ investment covers the upgrading of its Agila Subic Shipyard in Subic Bay and undertaking of logistics, energy and transport infrastructure projects over the next 12 months.
Cerberus acquired and redeveloped the Agila Subic Shipyard (formerly called Hanjin Shipyard) located at the Subic Bay Freeport Zone in 2022 and invested $40 million to revitalize its operations.
Since then, the 300-hectare facility has become a vital strategic hub for industrial, naval and logistics operations.
Currently, the shipyard hosts major tenants including global shipbuilder HD Hyundai Heavy Industries, subsea fiber optic data cables manufacturer SubCom, publicly listed logistics firm V2X and the Philippine Navy, which operates a portion of the facility.
According to Cerberus, HD Hyundai Heavy Industries will commence shipbuilding operations in the fourth quarter of this year from the original schedule of January 2026.
“This milestone marks a major step forward in the ongoing transformation of Agila Subic Shipyard into a world-class industrial and maritime hub,” it said.
Beyond Subic, Cerberus is pursuing additional investments in critical infrastructure and logistics projects across the Philippines.
Long-term potential
“We believe the Philippines holds significant long-term potential as a regional hub for industrial and logistics activity,” Cerberus managing director Alexander Benard said.
“We look forward to building on this momentum and supporting the development of our key strategic assets in the Philippines,” added Bernard.
Special Assistant to the President for Investment and Economic Affairs Frederick Go said Cerberus’ projects in the pipeline would generate thousands of jobs, open new avenues for regional growth and secure the country’s position as a key logistics hub in Southeast Asia.
“These projects are vital to improving our country’s energy resilience and logistics infrastructure,” Go said.
Headquartered in New York, Cerberus manages more than $65 billion in assets across complimentary credit, real estate and private equity strategies.
“For more than three decades, we have provided capital solutions and operating experience to help companies and properties around the world improve performance and drive value creation,” according to its website.
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