Cerberus Capital Management is raising more than $4 billion for...

Cerberus Capital Management is raising more than $4 billion for Cerberus Institutional Partners, Series Four, a distressed debt fund that will invest in the U.S. and Asia, according to agenda documents from the $54.8 billion Pennsylvania Public School Employees' Retirement System, Harrisburg. The system plans to commit up to $200 million to the fund. Cerberus spokesman Peter Duda said the firm does not comment on fundraising as a matter of policy.