Cerberus to sell gunmaker

U.S. private equity group Cerberus Capital Management says it will put up for immediate sale Freedom Group, the weapons maker it owns that manufactures the Bushmaster AR-15 rifle believed to have been used in Friday’s massacre of school children in Newtown, Connecticut. The decision comes as institutional investors such as pension funds start to review their investments in weapons makers against a background of growing calls for greater gun control. Cerberus is currently looking to raise $3 billion-3.5 billion for a new investment fund.