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Deutsche AWM closes Secondary Opportunities Fund III at USD1.65bn

Deutsche Asset & Wealth Management’s DB Private Equity has held the first and final close of its Secondary Opportunities Fund III (SOF III) at the USD1.655 billion hard cap.

SOF III is dedicated to acquiring a diversified set of private equity fund interests and assets in the secondary market globally.
 
Carlo Pirzio-Biroli, global head of DB Private Equity and co-head of DB PE Secondary Funds, says: “We are very pleased to have received support from an impressive roster of institutional and private clients globally. In line with our proven value investing approach, we expect to deploy capital consistently across the investment cycle in transactions ranging from USD1m to USD500m globally. We have a strong pipeline of potential deals for SOF III in place."
 
The closing of SOF III included new and existing investors, such as public and corporate pension plans, sovereign wealth funds, insurance companies, foundations & endowments, and family offices from across the Americas, Europe, Middle-East and Asia.
 
Stephane Farouze, head of alternatives and fund solutions, which includes DB Private Equity, says: “We believe the secondary market fundamentals will remain attractive. We will continue to expand our secondary investment platform to provide clients with access to unique investment opportunities across the private equity, hedge fund, and real estate asset classes.” 

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