The Aztec Group, along with Carey Olsen, has supported Deutsche Beteiligungs (DBAG) on the final close of its latest fund, Fund VIII, domiciled in Guernsey.
Founded in 1965 and with more than €2.5bn of assets under management and advisory, DBAG is a listed private equity firm with shares traded on the Frankfurt Stock Exchange.
The firm has an investment focus on small and medium-sized German companies, particularly those in the industrial sectors, broadband telecommunications, software and IT services and healthcare.
The fund has total commitments of €1.1bn, including €255m co-invested from DBAG’s balance sheet capital.
Aztec Group’s Private Equity team in Guernsey, led by Group Head of Private Equity Matt Horton, managed the set-up of the fund and will provide administration, accounting and investor services. It will also act as Fund VIII’s depositary from its office in the UK.
The Carey Olsen team, led by Partner Tom Carey with support from Senior Associate Chris Hutley-Hurst and Associate Felicity Wai, provided Guernsey legal, regulatory and tax advice to DBAG in respect of the formation, structuring and launch of Fund VIII.