Administration July 12, 2004

Report: Deutsche Peddling its Global Real Estate PE Fund

December 19, 2003 (PLANSPONSOR.com) - 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.
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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,

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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.

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