Cerberus investing P15 billion for Subic shipyard upgrade, new projects

MANILA, Philippines — American alternative investment firm Cerberus Capital Management is planning to pour in P15 billion over the next 12 months to strengthen its presence in the Philippines.

In a statement yesterday, the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said Cerberus’ plans were discussed during a meeting with President Marcos in Washington.

Cerberus’ planned investments include further upgrades to the Agila Subic Shipyard as well as new projects in logistics, energy and transport infrastructure.

“We’re encouraged by the progress we’ve seen and by the strong support from the Philippine government,” Cerberus managing director Alexander Benard said.

“We believe the Philippines holds significant long-term potential as a regional hub for industrial and logistics activity. We look forward to building on this momentum and supporting the development of our key strategic assets in the Philippines,” he said further.

Cerberus made a landmark investment in the Philippines in 2022 through its acquisition of the former Hanjin Shipyard in Subic Bay, now known as the Agila Subic Shipyard.

The 300-hectare facility has been transformed into a vital strategic hub for industrial, naval and logistics operations.

It now hosts major tenants including the world’s largest shipbuilder HD Hyundai Heavy Industries.

Cerberus said HD Hyundai Heavy Industries is set to begin shipbuilding operations in the fourth quarter of this year, ahead of its original schedule of January 2026.

Other tenants include subsea cable systems leader SubCom, logistics firm V2X and the Philippine Navy.

Apart from Subic, Cerberus is pursuing additional investments in critical infrastructure and logistics projects in the country.

SAPIEA Frederick Go, who joined Marcos and Trade Secretary Cristina Roque at the meeting, said the projects are vital to improving the country’s energy resilience and logistics infrastructure.

“They will create thousands of jobs, open new avenues for regional growth and position the Philippines as a key logistics hub in Southeast Asia,” Go said.

Founded in 1992, Cerberus has $65 billion in assets across complementary credit, private equity and real estate platforms.