RREEF Closes First Private Equity Fund

Mar 21 2007 | 12:30pm ET

New York-based RREEF Alternative Investments has held the final close of it’s first private equity offering at $775 million.

RREEF, the alternative investments business of Deutsche Bank, said investors in the DB Secondary Opportunities Private Equity Fund hail from the U.S., Europe and the Middle East.

The fund has already agreed to acquire 97 p.e. interests from its parent for $415 million, and will invest in secondary positions in existing partnerships and co-invest in other companies.

The new fund is managed by Charles Smith, head of global private equity, and Carlo Pirzio-Biroli.

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