Rreef Alternative Investments, the alternative investments business of Deutsche Bank’s asset management division, has announced the final close of the DB Secondary Opportunities Private Eq
Rreef Alternative Investments, the alternative investments business of Deutsche Bank’s asset management division, has announced the final close of the DB Secondary Opportunities Private Equity Fund, which raised USD775m from investors in the US, Europe and the Middle East. The fund will be managed by Rreef Alternative Investment’s private equity business and marks its first private equity offering.
As part of the transaction, the fund has agreed to purchase a seed portfolio of 97 diversified private equity fund interests from Deutsche Bank for a total of USD415m. The fund will also purchase secondary positions in existing partnerships and portfolios of direct investments, as well as co-invest in companies alongside other private equity investors. Investors in the fund include a mix of institutions, pension plans, discretionary fund of funds and family offices.
‘With the growing demand from our clients for sophisticated alternative products, this fund allows us to expand our private equity offering to include secondary and co-investment opportunities,’ says Chris Hughes, head of global private equity and hedge funds at Rreef Alternative Investments.
In January, Rreef Private Equity agreed to acquire a minority stake in Aldus Equity, an alternative asset management and advisory boutique specialising in customised private equity investing.
‘We are excited to be expanding Rreef Private Equity’s offering for our clients,’ said Charles Smith, head of global private equity, who will co-manage the fund with Carlo Pirzio-Biroli. ‘Deutsche Bank’s global origination network combined with our team’s expertise in the secondaries market provides us with a powerful platform to offer clients.’
Headquartered in New York, Rreef Alternative Investments employs more than 1,400 investment professionals in 16 cities around the world and had EUR73bn in assets under management in real estate, infrastructure, private equity and hedge fund investments worldwide at the end of last year.
