DWS achieves final close on maiden mid-life secondaries Private Equity Solutions fund

DWS today announced the final close of its inaugural Private Equity Solutions (PES) fund achieving USD 550 million including discretionary co-investment vehicles, which is in excess of its target and hard-cap of USD 500 million and USD 525 million respectively.

Demonstrating significant demand for its mid-life secondaries strategy, the inaugural fund closed with a global investor base consisting of state pension plans, insurance companies, corporate institutional investors and family offices in North America, Europe and the Middle East. The fund has made a total of 12 investments, which have exhibited positive performance to date.

The private equity business at DWS has focused on developing a differentiated mid-life secondaries strategy that offers a compelling risk-return profile to investors whilst allowing existing private equity sponsors to continue to back their better performing portfolio companies. The strategy provides acquisition / M&A capital to existing portfolio companies, delivering partial liquidity solutions on single assets or structuring continuation fund solutions for GPs and their investors.

In a joint statement, Kumber Husain, Head of Private Equity Americas, and Daniel Green, Head of Private Equity EMEA at DWS, said: "We are proud to have attracted such a high-quality investor base to our mid-life secondaries strategy, which offers an appealing solution to private equity sponsors to continue growing their better performing assets. The strong portfolio of investments we have developed to date has contributed to demand from investors against the backdrop of the on-going growth in GP-led secondaries and bespoke capital solutions."

Mark McDonald, Global Head of Private Equity at DWS added, "It is a testament to the strength of our team globally for the inaugural PES fund to be oversubscribed, and with the majority of the fundraise taking place during the current Covid pandemic. We seek to deliver consistent risk-adjusted returns to our investors as we continue to build out our team and extend our reach going forward".

For further information please contact:

Nick Bone
+44 (0) 20 754 72603
nick.bone@dws.com

Kenny Juarez
Phone: 1-212-454-9994
kenny.juarez@dws.com 

 

About DWS – Private Equity

DWS's Private Equity business provides follow-on capital and liquidity solutions for private equity sponsors and select portfolio assets at different points in the fund's life. Key catalysts for a capital solution typically include add-ons, growth in new markets or products, debt reduction, cap table reorganization and liquidity for existing investors. The team aims to provide an elegant solution for private equity funds to maintain control of their best assets, while enhancing value via new capital and our involvement as an independent third party, to mitigate conflicts of interest.

About DWS Group

DWS Group (DWS) is one of the world's leading asset managers with EUR 880bn of assets under management (as of 30 September 2021). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.

DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients' future.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.

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