DBAG funds

DBAG funds pool the assets of German and international institutions – pension funds, funds of funds, banks, foundations, insurance companies or family offices. These assets constitute the largest part of our capital base. The DBAG funds invest on their own account. The contractual terms at which they do so are aligned to the principles found in the private equity sector.

Deutsche Beteiligungs AG currently advises the assets of more than 60 investors in seven private equity funds. This includes the assets of the funds that is presently investing: DBAG Fund VIII. It was closed in May 2020 with commitments of 1,109 million euros. It has been investing since August 2020. 

DBAG funds Launched Size Status
DBAG Fund VIII 2020 €1,109mn Active
DBAG ECF III 2018 €97mn Investment period terminated
DBAG Fund VII 2016 €1,010mn Investment period terminated
DBAG ECF II 2016 €85mn Investment period terminated
DBAG Fund VI 2012 €700mn Investment period terminated
DBAG ECF I 2011 €213mn Investment period terminated
DBAG Fund V 2006 €539mn Investment period terminated
DBAG Fund IV 2002 €328mn Realised
DBG Fonds III 1998 DM283mn Realised
DBG Fonds II 1975 DM139mn Realised
DBG Fonds I 1965 DM473mn Realised


DBG Fonds I, DBG Fonds II and DBG Fonds III had a basically different structure and investor base than the funds launched since 2002.

Each of the DBAG funds consists of several entities to account for country-specific and regulatory requirements, among other things. Investments by members of the DBAG investment team are also made through separate entities. The funds invest together with Deutsche Beteiligungs AG and the members of the investment team at a contractually fixed co-investment ratio for each fund. Co-investments by DBAG alongside the funds are also made via a separate entity in each case. This entity invests at the same terms and in the same instruments. Thus, the investment ratio between DBAG and the other investors is fixed for the lifetime of a fund. This structure ensures an identity of interest between the investors in the funds and DBAG with its shareholders.

We maintain a close, regular dialogue with our investors.

Investors: type

Investors: regions

The charts above consider the investors of DBAG ECF II and DBAG ECF III, DBAG Fund VII and DBAG Fund VIII (as of October 2020).

Contact

Jürgen Fischer
Jürgen Fischer
Jürgen Fischer
+49 69 95787-322

Jürgen Fischer

Managing Director

Jürgen Fischer joined DBAG in 2011. Since then he has been Head of Fund Investor Relations.

Prior to joining DBAG, he worked at Union Investment, focusing on product management, and at Feri Trust being responsible for primary investments in private equity funds. Jürgen Fischer started his career at Landesbank Berlin working as an Analyst.

He holds a degree in Business Administration from the Philipps University, Marburg. Prior to his university education, he completed a bank apprenticeship. Jürgen is a CFA Charterholder.

Three questions for Jürgen Fischer

They are clearly satisfied with how we put their capital to work in the precedessor funds. Investors consider it important that their capital is invested as agreed at the start of a fund’s term, which, after all, is at least ten years. For example, they expect that we will invest within the agreed period and will achieve the returns that were envisaged and that the fund will unvaryingly adhere to its investment strategy.

For regulatory reasons, only professional investors can become partners in the funds. Nearly all investors have an extensive programme for commitments to private equity funds – regularly investing, for example, in funds focused on certain geographical regions, sectors, company sizes and investment types. To limit the number of investors in an individual fund, a minimum amount may be specified that each investor must commit.

This depends very much on the investment progress of the funds from which investments are currently being made. DBAG Fund VIII made its first investments in September 2020 and we expect the investment period to last about four years.

Do you have questions for Jürgen Fischer?