RREEF expands secondaries team with Pomona pro(4)

RREEF has hired Adam Graev, former vice president of secondaries firm Pomona Capital, to lead secondary and co-investment deals in North America.

RREEF Private Equity, a subdivision of Deutsche Bank’s Asset Management group, has hired Adam Graev as a director for its $775 million (€562 million) DB Secondary Opportunities Private Equity Fund.

At RREEF, Graev is responsible for sourcing and executing secondary and co-investment deals in North America. Based in New York, he reports to Charles Smith and Carlo Pirzio-Biroli, managing directors and co-managers of the fund.

Graev was previously vice president of New York secondaries firm Pomona Capital. Prior to joining Pomona in 2006, he was a senior vice president at Lehman Brothers, where he focussed on direct private equity investments.

“Adam’s direct and secondary private equity experience made him a natural fit for our team,” Christopher Hughes, the chief executive of the private equity and hedge fund group at RREEF, said in a statement. “His relationships with general partners, limited partners and secondary market players will help support RREEF Private Equity’s growth.”

The DB Secondary Opportunities Fund, which closed in April, invests in secondary portfolios, secondary direct portfolios and direct private equity co-investments. As a starting point, it agreed to buy a portfolio of 97 private equity fund interests from its parent Deutsche Bank with a total value of $415 million.

RREEF is one of the world’s largest alternative asset managers, with about €59 billion under management. Earlier this year it bought Aldus Private Equity, a specialist private equity investment advisor.