About European banks and concerns with asset valuations, Feinberg said that the region's banks might benefit from an independent assesment of their assets similar to BlackRock's ( BLK)

valuation of loan losses at six Irish banks earlier this year. Even without a confidence-inspiring loan assesment Feinberg said, "Europe is an exciting opportunity... We've bought a lot of loan portfolios already and there are more in the pipeline."

Like other private equity firms, Cerberus Capital is also seeking to create value in the companies it owns by adding its operational expertise to lower costs and better manage risks. In some private finanicial sector-based investments, Feinberg said his team can even lend a specialty in processing complicated interest rate and loan risks to the companies it has a stake in.

-- Written by Antoine Gara in New York

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