RREEF Alternative Investments Announces Final Close of Its Secondary and Co-Investment Private Equity Fund.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- RREEF Alternative Investments, the alternative investments business of Deutsche Bank's Asset Management division, today announced the final close of its DB Secondary Opportunities Private Equity Fund which raised $775 million from investors in the US, Europe and the Middle East. The fund will be managed by RREEF Alternative Investment's Private Equity business and marks its first private equity offering. As part of the transaction, the fund has agreed to purchase a seed portfolio of 97 diversified private equity fund interests from Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank for total consideration of $415 million. The fund will also purchase secondary positions in existing partnerships and portfolios of direct investments, as well as co-invest in companies alongside other private equity investors. Investors in the fund include a mix of institutions, pension plans, discretionary fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. and family offices. "With the growing demand from our clients for sophisticated alternative products, this fund allows us to expand our private equity offering to include secondary and co-investment opportunities," said Chris Hughes Chris Hughes could refer to one of several notable men:
Earlier this year, RREEF Private Equity announced it has signed a definitive agreement to acquire a minority stake in the business of Aldus Equity, an alternative asset management and advisory boutique specializing in customized private equity investing. "We are excited to be expanding RREEF Private Equity's offering for our clients," said Charles Smith Charles Smith may refer to: In basketball:
Smith and Carlo Pirzio-Biroli will manage the fund and collectively have over 14 years of private equity experience. About RREEF Alternative Investments RREEF Alternative Investments is the global alternative investment management business of Deutsche Bank's Asset Management division. RREEF Alternative Investments consists of four businesses: Real Estate, Infrastructure, Private Equity and Hedge Funds. Headquartered in New York, RREEF Alternative Investments employs more than 1,400 investment professionals in 16 cities around the world to help investors meet a wide range of objectives - from diversification, to preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at , to long-term performance. Named the world's largest alternative investments manager in Watson Wyatt's Alternative Survey, September 2006, RREEF has [euro]59 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. worldwide as of 31 December 2006. About Deutsche Bank Deutsche Bank (NYSE NYSE See: New York Stock Exchange : DB) is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Asia and key emerging markets. With Euro 1,128 billion in assets and 68,849 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. www.db.com |
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