Deutsche inches towards Fund IV target

The bank’s parallel Asia-focused private equity vehicles have struggled with fundraising, collecting only $42.5m since their joint filings in December.

Deutsche Bank has raised $35 million for its fourth Private Equity Asia Select Fund, which is targeting $150 million, according to US Securities and Exchange Commisssion documents.

The bank has collected less than $5 million across 11 investors since its last filing, dated 18 March, according to SEC documents. It received its first commitment in December, 2010.

Private Equity Asia Select Fund IV has a minimum commitment of $500,000. The firm does not appear to have engaged a placement agent for the fund.

A parallel, internationally-raised fund with a similar target has raised only $6.5 million since its initial filing in December, 2010. 

It is unclear when either vehicle expects a final close. Deutsche Bank did not respond to requests for comment by press time.

The bank extended its private equity business to Asia in 2009, when it appointed Peter Pfister as director of private equity investments for the Asia Pacific region.

Deutsche Bank Private Equity controls €6 billion of client assets under management and maintains offices in New York, Cologne, London, Milan, Zurich Copenhagen and Singapore.