Firm: Deutsche Bank
Fund Type: Secondary
Expected Size: $750M to $800M
Deutsche Bank has been showing the deal to clients of its private bank, one person says. Fundraising is to begin “imminently,” a source told sister Web site peHub.
While Deutsche Bank has been in the secondaries market for some time, it has only publicly acknowledged one fund. In 2007, the bank announced the final close of its DB Secondary Opportunities Private Equity Fund, which raised $775 million.
News of of the bank’s fundraising comes as
Deutsche Bank earlier this year reorganized its asset management business following the acquisition of Sal. Oppenheim Group, Germany’s biggest independent private bank. In April, Deutsche Bank combined three divisions under DB Private Equity, including the secondaries business, the private equity group of Deutsche Bank private wealth management and Sal. Oppenheim Private Equity Partners.
Officials for Deutsche Bank declined comment.