Deutsche Bank Asset Management Sells its US Private Equity Access Fund Platform to iCapital Network

December 15, 2017

iCapital takes over as investment manager for the portfolio of 33 private equity access funds with approximately $2.5 billion in invested assets.

On September 21, it was announced that long-time Willkie client Deutsche Bank Asset Management signed a definitive agreement to sell its US Private Equity Access Fund Platform to iCapital Network. At closing, which occurred on December 8, 2017, iCapital took over as investment manager for the portfolio of 33 private equity access funds with approximately $2.5 billion in invested assets and more than 7,000 domestic and international investors.

In a transaction which closed in 2016, Willkie also represented Deutsche Bank in the sale of its U.S. Private Client Services unit to Raymond James Financial, Inc.  

The current transaction was handled by a multidisciplinary Willkie team including, Corporate: partner Russell Leaf, counsel Jared Fertman, and associate Christine Centola; Asset Management: partners James Silk and Arash Farhadieh, and associates Jed Doench, Colin Fulton, Stephanie Albano, Mia Goschalk, and Olivia Kim; Employee Benefits: partner Jordan Messinger and associate Geri Anne McEvoy; and Tax: partner Hillel Jacobson and associate Kal Dargan.