Deutsche Bank is set to form a new private equity fund of funds business within its asset management division, following the acquisition of private bank Sal. Oppenheim Group recently.
The new group has been entitled as DB Private Equity and it is expected to manage approximately EUR6bn of private equity fund of fund client assets.
Deutsche Bank will combine the existing three divisions including: the private equity group of Deutsche Bank private wealth management, the secondaries private equity team of RREEF and Sal. Oppenheim Private Equity Partners (SOPEP).
Chris Minter, a managing director, has been named global head of DB Private Equity reporting to Kevin Parker, global head of Deutsche Asset Management division and a member of Deutsche Bank’s group executive committee.
Rolf Wickenkamp, until recently a partner at SOPEP, has been appointed vice chairman of DB Private Equity.
Deutsche Bank has acquired business of the Sal. Oppenheim Group that include asset management activities, the investment bank, BHF Bank Group, BHF Asset Servicing and Sal. Oppenheim Private Equity Partners.