Deutsche Bank to launch Asia fund
Deutsche Bank has begun the fundraising process of a $150 million Asia-focused private equity fund, with a portion of that – nearly $31 million – already raised.
According to a filing submitted to the SEC, the Private Equity Asia Select IV GP, Ltd., has raised $30.85 million. Reuters, which first reported the news, noted that around 70 LPs have committed capital, with the filing revealing that all LPs are US-based and the minimum investment accepted from any outside investor was $500,000.
"An SEC filing was made reporting that Deutsche Bank has raised more than $30 million from 70 investors for DB Private Equity Asia Select Fund IV (U.S.) LP. This is part of a broader capital raising on behalf of Deutsche Bank's Private Wealth Management business," a Deutsche Bank spokesperson told AVCJ.
The spokesperson could not disclose the fund's intended targets or a timeline for capital deployment.
Among the DB executives submitting the prospectus is Singapore-based Peter Pfister, the bank's Director of Private Equity Investments for Asia Pacific, part of the DB's private wealth management division. Pfister has been in that role for two years DB's private wealth management site notes that the bank specializes in VC, leveraged buyout and special situation investments. In Asia Pacific, the bank claims 15 offices across 9 markets dedicated to private wealth management.
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