Deutsche Bank’s asset and wealth management division’s DB Private Equity & Private Markets has raised USD614m for the DB Secondary Opportunities Fund II (DB SOF II), exceeding its USD500m target.
DB SOF II is dedicated to acquiring a diversified set of private equity fund interests in the secondary market globally.
The close of DB SOF II included new and existing investors, such as insurance companies, public and corporate pension plans and family offices across the Americas, EMEA and Asia Pacific.
Carlo Pirzio-Biroli (pictured), co-head of DB Private Equity & Private Markets and Secondary Funds, says: “This successful capital raise demonstrates how DB Private Equity & Private Markets leverages its differentiated approach to secondary investing and the depth of the Deutsche Bank platform to deliver a compelling investment solution for our clients.”
Stephane Farouze, head of alternatives and fund solutions, which includes DB Private Equity & Private Markets, says: “As investors continue to actively manage their alternatives portfolios, we believe the secondary market fundamentals will remain attractive in 2013. We will continue to expand our secondary investment platform to provide clients with access to unique investment opportunities across the private equity, hedge funds, real estate and infrastructure asset classes.”
