Deutsche Bank to Raise $750M To $800M Secondaries Fund

Deutsche Bank plans to begin marketing soon for a new secondaries fund that is expected to reach $750 million to $800 million, sources say.

Deutsche Bank has been showing the deal to clients of its private bank, one person says. Fundraising is to begin “imminently,” another source says.

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 DB’s fundraising comes as AXA Private Equity is also in the market. AXA Private Equity, a unit of AXA Investment Manager, is looking to raise a $4 billion fund, I reported last week. Coller Capital is also fundraising for a $5 billion pool, according to press reports.

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.