Deutsche Private Equity closes third fund on €575m

The fund reached its hard-cap, according to placement agent Monument Group, which assisted DPE for the fundraising.

This marks a quick return to market and a bump in assets under management for DPE, which closed its DPE Deutschland II fund and its related feeder fund with approximately €350m of capital commitments in early 2013. The fund hit its hard-cap of €350m, while exceeding its €300m target, four months after the first capital commitment was made, according to unquote" data. Monument Group had also acted as placement agent for fund II.

Buyout fund closes have been relatively thin on the ground in Germany in recent months, although Deutsche Beteiligungs AG closed DBAG Fund VII on its €1bn hard-cap in July last year. CMP also closed its CMP German Opportunity Fund III on its €250m hard-cap in April.

Investors
According to Monument Group, the vehicle received commitments from a group of global investors including endowments, family offices and funds-of-funds. LPs primarily hail from Europe and North America.

Investments
DPE has traditionally focused on financing the succession of medium-sized businesses in the DACH region, providing between €20-60m of equity per company. It is not yet clear how the increased size of fund III will affect this strategy.

The GP recently acquired chrome-plated plastic components manufacturer Fischer Surface Technologies in December. Prior to that, it bought RFID readers business Elatec in January 2016.

People
Deutsche Private Equity – Marc Thiery, Volker Hichert (founding partners).

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