Deutsche Bank is creating a combined private equity fund-of-funds business, DB Private Equity, combining the private equity business of newly acquired Sal. Oppenheim Group with Deutsche Bank’s two private equity units, confirmed Mayura Hooper, the bank’s vice president, press and media relations.
The new business, which will be part of Deutsche Bank’s asset management division, has combined assets of €6 billion ($8 billion).
DB Private Equity will include Sal. Oppenheim Private Equity Partners; DB Private Equity, Deutsche Bank Private Wealth Management’s private equity group; and its RREEF secondaries private equity team.
Chris Minter, a managing director and former head of business development for Deutsche Bank’s asset management division, was named global head of DB Private Equity. Rolf Wickenkamp, former partner at Sal. Oppenheim Private Equity Partners, is now vice chairman of DB Private Equity.