DBAG targets €375m for Fund V

German private equity firm Deutsche Beteiligungs has begun fundraising for its fifth vehicle.

Frankfurt stock exchange-listed private equity firm Deutsche Beteiligungs (DBAG) has begun fundraising for its latest fund, DBAG Fund V.
DBAG Fund V has a target of €375 million ($441 million). Wilken von Hodenberg, spokesman for the board of management of Deutsche Beteiligungs, told PEO that the firm expects to hold a final closing by the spring of 2006.
If it reaches its target cap, Fund V will be the largest private equity fund raised so far by DBAG. The firm held a final close of Fund IV on €228 million in September 2003, below its original target of €250 million. Van Hodenberg said Fund IV was now 71 percent invested.
According to von Hodenberg, DBAG expects to increase the number of international investors in Fund V. “Seventy-five percent of the money in Fund IV came from institutional investors in Germany,” he said. “We’re hoping to get 55 to 60 percent of commitments from abroad for Fund V.”
Von Hodenberg added that the firm also expects a significant number of existing investors in Fund IV to contribute to the new fundraising.
The new fund will continue DBAG’s investment strategy of investing in companies with enterprise values of €50 million to €500 million in German-speaking countries. Typical equity investments for the fund will be somewhere between €30 million and €60 million, added Von Hodenberg.
DBAG currently has around €500 million of assets under management and has existing interests in 40 portfolio companies.