P+P advises on closing of DBAG Fund VII
On July 21, 2016, the listed Frankfurt-based company, Deutsche Beteiligungs AG, successfully initiated the next generation of DBAG buyout funds with the closing of DBAG Fund VII.
With capital commitments of EUR 1 B, DBAG Fund VII significantly exceeds the volume of its predecessor, DBAG Fund VI, which closed in 2012 with commitments of EUR 700 M.
DBAG Fund VII consists of two constituents: a primary fund with a fund size of EUR 800 M and a "top-up fund" for larger transactions with a fund size of EUR 200 M.
DBAG Fund VII is a Luxembourg fund structured with a Guernsey manager and a German consultant and it has an internationally broadly diversified investor base from Asia, the Middle East, Australia, Europe and the USA. The already existing expertise of P+P Pöllath + Partners from numerous fund structurings in Luxembourg and Guernsey advisor structures has been combined in a new constellation.
P+P Pöllath + Partners comprehensively advised the manager of DBAG Fund VII and its advisor, Deutsche Beteiligungs AG, on all contractual, tax and regulatory aspects of the fund formation and launch, as well as the marketing with the following private funds team:
- Andreas Rodin (partner, Frankfurt)
- Patricia Volhard (partner, Frankfurt)
- Fabian Euhus (counsel, Berlin)
- Joel El-Qalqili (associate, Frankfurt)
- Juliane Seiferth (associate, Berlin)
P+P Pöllath + Partners coordinated with other consultants, including:
Gilles Dusemon, Nicolas Bouveret, Florie-Anne Gonera of Arendt & Medernach (Luxembourg); Tom Carey and Chris Hurtley-Hurst of Carey Olsen (Guernsey) and Ira Bogner, Stephanie Berdik, Jamiel Poindexter and Alec Campbell of Proskauer Rose (USA), each as local counsel.
P+P Pöllath + Partners coordinated with local counsel in Denmark, France, Italy, Finland, the Netherlands, Sweden, Switzerland, Norway, the UK, Australia and Japan on distribution issues.