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DB Private Equity closes latest secondary opportunities fund at $1.7 bln

Deutsche Asset & Wealth Management said Tuesday that DB Private Equity has closed its latest secondary opportunities fund at its hard cap of $1.665 billion. Secondary Opportunities Fund III LP will buy private equity fund interests and assets in the secondary market globally. New and existing investors of SOF III included public and corporate pension plans, sovereign wealth funds, insurance companies, foundations & endowments, and family offices from across the Americas, Europe, Middle-East and Asia.

PRESS RELEASE

Deutsche Asset & Wealth Management announced today that DB Private Equity held the first and final close of its Secondary Opportunities Fund III, L.P. (“SOF III”) at the $1.655 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, said, “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 $1m to $500m 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, commented, “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.”