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Transactions / Tenet Equity

Cerberus Sells Tenet Equity to CBRE Investment Management for $1.6 Billion

Exit to a strategic buyerclosedannounced Sep 8, 2026closed Sep 8, 2026Fact
What happened
Target
Tenet Equity
Platform
not an add-on on record
Control
unknown
Share acquired
unknown
Industry
unknown
Target location
AZ, US
Seller kind
Sponsor
Rollover
unknown
Values, only where disclosed
Enterprise value
Not disclosed
Purchase price
Not disclosed
Equity value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
Multiple
Not disclosed
Parties and roles
7 named
Buy side
  • CBRE Investment ManagementStrategic acquirerconfirmed
    “September 8, 2026 – Cerberus Capital Management, L.P. (together with its affiliates, “Cerberus”), a global alternative investment firm with established corporate credit and real estate platforms, today announced that certain funds and accounts have sold Tenet Equity (“Tenet” or the “Company”) to CBR”
  • Bob DavenportDeal partnerconfirmed
    “Bob Davenport, Global Head of Corporate Credit at Cerberus, added: “The net lease asset class sits at the intersection of corporate credit and real estate, and Tenet’s success is a great illustration of the successful collaboration that takes place across the Cerberus platform.”
Sell side
  • Cerberus Capital Management, L.P.Sellerconfirmed
    “September 8, 2026 – Cerberus Capital Management, L.P. (together with its affiliates, “Cerberus”), a global alternative investment firm with established corporate credit and real estate platforms, today announced that certain funds and accounts have sold Tenet Equity (“Tenet” or the “Company”) to CBR”
Advisory side
  • Kirkland & Ellis LLPLegal adviserconfirmed
    “Evercore served as exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Cerberus.”
  • EvercoreSell-side adviserconfirmed
    “Evercore served as exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Cerberus.”
Side not stated
  • Chris VolkManagementconfirmed
    “Chris Volk, Chairman of the Board of Tenet Equity, commented: “Cerberus was an ideal financial partner from the beginning, delivering a combination of capital, business knowledge and net lease market expertise.”
  • Tenet EquityTargetconfirmed
    “September 8, 2026 – Cerberus Capital Management, L.P. (together with its affiliates, “Cerberus”), a global alternative investment firm with established corporate credit and real estate platforms, today announced that certain funds and accounts have sold Tenet Equity (“Tenet” or the “Company”) to CBR”
Evidence
“September 8, 2026 – Cerberus Capital Management, L.P. (together with its affiliates, “Cerberus”), a global alternative investment firm with established corporate credit and real estate platforms, today announced that certain funds and accounts have sold Tenet Equity (“Tenet” or the “Company”) to CBRE Investment Management, which is making its investment on behalf of several of its investment strategies, for $1.6 billion.”
Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)confidence 80%recorded Sep 17, 2026
Cerberus Sells Tenet Equity to CBRE Investment Management for $1.6 Billion | Private Equity Intelligence | DFX