Deutsche Beteiligungs is a German-based and listed private equity investment and fund management company that invests in mid-sized companies in Germany and neighbouring countries via management buyout transactions and growth capital financings. It also manages c €2bn of third-party capital, which generates stable recurring fee income. Following the acquisition of a majority stake in ELF Capital, DBAG will expand its offer to include private debt.
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Dr Matthias Döll
Director Legal
Tom Alzin
Board spokesman
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (9.8) | (11.4) | (20.7) |
Relative | (6.7) | (14.4) | (33.7) |
52 week high/low | €30.1/€21.9 |
Deutsche Beteiligungs (DBAG) reported a c 4% NAV total return in 9M24, supported primarily by higher valuation multiples on the back of more benign public markets and the successful realisation of in-tech. DBAG’s management has recently experienced a significant increase in deal flow, which we attribute to the first signs of a recovery in global M&A activity, reduced competition (as evidenced by two of its competitors no longer pursuing new investments), as well as cross-deal flow from the recently acquired ELF Capital Group. This has encouraged the company to issue a €100m convertible bond to further boost its dry powder.
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