Deutsche Bank secondaries fund raises $614m

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dbDeutsche Bank Private Equity said its Secondary Opportunities Fund II (DB SOF II) has raised $614m – above its initial $500m target – in an oversubscribed round amid strong demand from investors.

The fund’s new and existing investors include insurance companies, public and corporate pension plans and family offices across the Americas, EMEA and Asia Pacific.

DB PE – which is the private markets unit of Deutsche Bank Asset & Wealth Management – said DB SOF II will buy private equity fund interests in the secondary market around the world.

DB PE added that it expects the secondary fundamentals to remain attractive this year.

Stephane Farouze, global head of fund derivatives at Deutsche Bank, said: “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.”

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