P+P advises on first closing of DBAG Fund VIII at over EUR 1 bn

With capital commitments of more than EUR 1 bn, DBAG Fund VIII already at its first closing exceeds the volume of its predecessor, DBAG Fund VII, which closed with commitments of roughly EUR 1.01 bn in 2016.

Deutsche Beteiligungs AG itself will co-invest EUR 255 m alongside the new fund, which represents a 25 % increase from the co-investment with DBAG Fund VII. Just like its predecessor fund, DBAG Fund VIII consists of two constituents: a primary fund and a "top-up fund" for exceptionally large transactions. DBAG Fund VIII is a Guernsey fund structured with a Guernsey manager and a German consultant.

P+P Pöllath + Partners advised the manager of DBAG Fund VIII and its advisor, Deutsche Beteiligungs AG, on all German contractual and tax aspects of the fund formation and launch with the following private funds team:

• Dr. Andreas Rodin (partner, private funds/tax law, Frankfurt am Main)
• Jan Philipp Neidel (senior associate, private funds/tax/venture capital, Berlin)
• Dr. Simon Schachinger (associate, private funds/tax law/venture capital, Berlin)

Other consultants include Simpson Thacher & Bartlett LLP (London, lead counsel), Debevoise & Plimpton (Frankfurt/London, regulatory), Carey Olsen (Guernsey law).