Report: Deutsche Peddling its Global Real Estate PE Fund

December 19, 2003 ( - A deal is reported to be near for Deutsche Bank to sell off its global real estate private equity fund to an investor group that include US pension funds for about $1.2 billion.

According to the Financial Times and confirmed by an unnamed Reuters source, the purchasing investor group includes institutional and private investors in the US and Europe.

The Reuters source said a deal announcement could come as early as next week and that the current Deutsche Bank team, under its head David Brush, will continue to manage the fund,

The German bank last month sold one billion euro worth of real estate – office and bank buildings – in nine countries to US private equity house Blackstone Group.