Deutsche Beteiligungs AG announces first closing of its latest buyout fund
€451 million raised for mid-market buyouts in German-speaking countries
Frankfurt/Main, 3 July 2012. Deutsche Beteiligungs AG (DBAG) is pleased to announce it has raised €451 million for investment into mid-market buyouts in German-speaking Europe via a first closing on its latest buyout fund, DBAG Fund VI. Approximately 80% of the total was raised from institutional investors from around the globe. The remaining capital is accounted for by a co-investment commitment from Deutsche Beteiligungs AG, which will co-invest alongside DBAG Fund VI in each transaction in a ratio fixed for the Fund’s lifetime.
The successful first closing for DBAG Fund VI follows the issue of the Private Placement Memorandum for the Fund a mere two months ago.
DBAG Fund VI is targeting a total fund programme of €650 million and is expected to hold a final closing in a few weeks’ time. Fundraising is expected to be substantially oversubscribed.
“We are exceptionally pleased with the enthusiastic response we have received from investors”, said Wilken von Hodenberg, Spokesman of the Board of Management of Deutsche Beteiligungs AG, adding: “As well as enjoying extremely strong support from our existing investors, we are honoured to have received numerous commitments from new investors”.
DBAG Fund VI will continue Deutsche Beteiligungs AG’s highly successful investment strategy of targeting market-leading industrial companies and services-related businesses operating in DBAG’s core sectors in German-speaking countries.
“This is a strong vote of confidence in our ability to identify the ‘hidden champions’ within the Mittelstand and deliver outstanding returns to investors”, commented Torsten Grede, Member of the Board of Management of DBAG.