Munich-based Deutsche Private Equity has held a final close for its Fund II on its €350 million hard-cap.
The lower mid-market firm exceeded its €300 million target and will continue to invest in companies headquartered in or principally focused on Germany, Austria and Switzerland. Deutsche Private Equity received a re-up commitment from its single existing investor and attracted new commitments from pension plans, foundations, family offices and fund of funds. The final close amount also included a “significant personal commitment” from the firm’s partners, according to a statement.
Monument Group acted as placement agent for Fund II. The firm’s previous fund raised roughly €252 million in 2007.
In conjunction with the fund close, Deutsche Private Equity has completed its buyout from Dutch private equity investor Parcom to become a fully independent firm.
Deutsche Private Equity targets businesses with enterprise values between €10 million and €100 million. The firm has yet to deploy any capital from Fund II, but plans “to be moving a number of these opportunities forward in the coming months”, Deutsche Private Equity co-founder and managing partner Volker Hichert said in the statement.
Deutsche Private Equity was formed in 2007 by Hichert, a former partner at German small-cap investor Granville Baird, and managing partner Marc Thiery. Prior to founding the firm, Thiery was a partner at Englefield Capital, a European mid-market buyout firm, where he was responsible for European healthcare and German investments.