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.
Deutsche Beteiligungs AG currently advises the assets of more than 50 investors in five private equity funds. This includes the assets of the two funds that are presently investing: DBAG Fund VII and DBAG ECF.
DBAG Fund VII closed in September 2016 with commitments of 1,010 million euros. It has been investing since December 2016. DBAG ECF has been investing since May 2011; the investment period of its first new vintage starts in June 2017.
We maintain a close, regular dialogue with our investors.