RREEF Closes Secondary Fund

RREEF Alternative Investments, a unit of Deutsche Bank Asset Management, has closed its inaugural secondaries fund with $775 million in capital commitments. As part of the closing, RREEF has agreed to purchase a “seed portfolio” of 97 private equity fund interests from Deutsche Bank for $415 million. Going forward, the fund will acquire secondary positions in existing partnerships and portfolios of direct investments. It also will provide co-investment capital. www.db.com