Deutsche Bank AG ( DB Quick Quote DB - Free Report) has launched an investment manager, DB Investment Partners ("DBIP"), to provide private credit investment opportunities to institutional and high net worth clients.
DBIP will be investing across a range of opportunities, like in corporates, real estate, asset-based finance including renewable fund, energy transition as well as infrastructure financing on a global basis.
DB will be retaining its existing private credit business which is operated using the banks’ capital.
DBIP will be operating independently from DB’s existing private credit business. It will be chaired by Jon Aisbitt, who has formerly been the chairman for Pension Insurance Corp. Group Ltd. and Man Group PLC. Also, Raheman Meghji, the chief executive officer of DBIP, will look after its day-to-day functioning.
Jon Aisbitt stated, “I am excited to be taking on the chairmanship at DB Investment Partners. Investor and borrower demand for private credit solutions continues to grow. Deutsche Bank has a strong track record in the space and the senior DB Investment Partners team has a wealth of investment experience through the cycle and across asset classes.”
The private credit industry recorded a market value of approximately $1.5 trillion as on Jul 3, 2023, per Dechert LLP
article. DB is expecting a rebound in the global deal-making business and hence believes the addition of this product offering will be beneficial for the company.
Moreover, in May 2023, Deutsche Bank expanded its mergers and acquisitions team. Particularly, Fabrizio Campelli, overseeing DB’s investment bank and the commercial banking division, stated, “We have hired close to 50 industry coverage deal makers and product experts since the start of the year to target growth in strategic revenues as the market rebounds for deal activity.”
Shares of DB have lost 1.2% on the NYSE over the past three months against the
industry’s growth of 2.7%.
Image Source: Zacks Investment Research
Currently, DB carries a Zacks Rank #3 (Hold). You can see
the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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