Deutsche Beteiligungs AG initiates new buyout fund
Category: Transactions Year: 2016
Campbell Lutyens is pleased to report that Deutsche Beteiligungs AG (DBAG) has initiated a new private equity fund.
With capital commitments of €1 billion, the new DBAG Fund VII significantly exceeds the size of its predecessor fund, DBAG Fund VI which closed in 2012 with commitments of €700 million.
DBAG Fund VII consists of two sub-funds: an €800 million principal fund, of which €183 million comes from DBAG, and a supplementary €200 million top-up fund (DBAG’s share: €17 million), which will be used co-invest alongside the principal fund in select larger transactions. The launch of the new fund therefore represents a strategic advancement for DBAG, allowing it to selectively invest in larger transactions.
The fundraising took less than three months. As with DBAG Fund VI, it was not possible to satisfy all subscription requests for DBAG Fund VII. About 80 percent of commitments come from investors in preceding funds.
Investors in DBAG Fund VII comprise a well-diversified group of high quality investors including pension funds, insurance companies, sovereign wealth funds, foundations and endowments, family offices and asset managers and funds of funds. The investor base remains very international, with 23% of the capital coming from investors based in North America, 12% from Asia (including Australia) and the Middle East, 51% from Europe and 14% from Germany.
Campbell Lutyens acted as exclusive global placement agent.