Deutsche Bank divests Australian DB Capital Partners unit |
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Published
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Mon, 27 Aug 2007 07:26
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LONDON (Thomson Financial) - Deutsche Bank has cut its last ties as a direct investor in private equity after selling off its Australian operations of DB Capital Partners to a local management team.The DB Capital team, led by Peter Dowding and Albin Kurti, have formed a new private equity business, Propel Investments, that will continue to manage funds of 450 mln aud that they previously looked after at the German bank.Chum Darvall, chief executive of Deutsche Bank in Australia and New Zealand, declined to reveal sale terms, the Financial Times reported.The divestment follows Deutsche Banks earlier sale of its private equity operations in Europe and the US.tf.TFN-Europe_newsdesk@thomson.comjmsCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Deutsche Bank declines comment on relation to struggling Australian hedge fund 