DPE closes fund II on €350m

DPE closed its DPE Germany II fund and its related feeder fund DPE II with approximately €350m of capital commitments. The fund hit its hard-cap of €350m, while exceeding its €300m target, four months after the first capital commitment was made.

The new fundraising also saw DPE buy out its Dutch partner Parcom, a subsidiary of the ING Group, one of the main investors in both DPE funds.

The fundraising was advised by P+P Pöllath + Partners which acted as the lead law firm in relation to German law, alongside regional advisers Proskauer Rose LLP (US and UK), Gowling Lafleur Henderson LLP (Canada), the Luxembourg office of Arendt & Medernach and Mourant Ozannes, which advised on Jersey law. Monument Group acted as placement agent.

Investors
The fund was closed with commitments from approximately 20 institutional investors. Existing investor ING Group was one of the main backers alongside pension funds, foundations, family offices and funds-of-funds.

The vehicle attracted both national and international investors. The GP also contributed a 'significant' amount of funding. 

Investments
DPE Fund II will invest in medium-sized companies with enterprise values of €10-100m in Germany, Switzerland and Austria. It will target predominantly niche players with growth rates of more than 10% and seeks to apply organic growth and buy-and-build strategies to its portfolio companies. First investments are expected to be made in the coming months.

People
Marc Thiery and Volker Hichert are founders and managing directors of DPE. Martin Anthonsen, managing director at Monument Group, acted as placement agent.

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• Topics
• Buyout
• DACH
• Germany