Brookfield Asset Management nears deal for Deutsche Bank's secondaries PE
Brookfield Asset Management $BROOKFIELD ASSET MANAGEMENT LTD(BAM)$ is in advanced talks to acquire the private equity secondaries business of Deutsche Bank's $Deutsche Bank AG(DB)$ asset management unit, Bloomberg reported Monday, citing a person familiar with the matter.
An agreement may be announced as soon as this week, according to the report.
The secondaries market comprises deals in which investors looking to exit private asset investments and fund managers who want to increase ownership stakes or hold assets for longer. Deutsche Bank's (DB) DWS Group has been marketing its secondaries business, which raised its first $550M fund a little over a year ago, to potential buyers as part of its plan to scale back from businesses that lack sufficient scale, Bloomberg had reported.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Ok