Listed Private equity firm Deutsche Beteiligungs AG (DBAG) has held the first close of its DBAG Expansion Capital Fund.
After this event, the firm has a total of €170m to invest in mid-sized companies. A portion of €100m comes from DBAG’s balance sheet and €70m from investors’ commitments to the new fund it is raising.
As stated by Wilken von Hodenberg, Spokesman of the board of management of Deutsche Beteiligungs AG, after the fund’s first closing today, the firm is confident “that the fund will attract additional commitments in the coming months and reach its targeted size of some €250m”.
Through the new fund, DBAG will continue to make minority investments between €10m and €30m in companies with annual revenues of between €50m and €500m, following the strategy of its ongoing current buyout fund (DBAG Fund V), which is almost half invested.