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Deutsche Beteiligungs

GR: DBAN

Market Cap€470m

Last Close €25

Deutsche Beteiligungs is a Germany based and listed private equity (PE) investment and fund management company that invests in mid-sized companies in Germany and neighbouring countries via MBO transactions and growth capital financings. There is a focus on growth-driven profitable businesses valued between €50m and €250m. It also manages €2.6bn of third-party capital, which generates stable recurring fee income.

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Investment summary

Deutsche Beteiligungs (DBAG) reported a 5.3% NAV decrease to €631.6m (defined as equity value) in H122 in total return terms. The main driver of the decrease was the revaluation of the held portfolio, which reduced NAV by 8pp, on the back of contracting market valuation multiples (amid the recent public market sell-off) and higher discount rates to reflect the risk of several companies not achieving their respective FY22 budgets. Meanwhile, DBAG continues its capital deployment agenda and invested a significant €92m in H122 versus its €114m annual investment target and has sufficient resources to continue to do so.

Content on Deutsche Beteiligungs
Deutsche Beteiligungs – Valuations hit by macro headwinds
Investment companies | research Update | 26 May 2022
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Deutsche Beteiligungs – Solid investment pace in Q122
Investment companies | research Update | 22 February 2022
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Deutsche Beteiligungs – Targeting a 10%+ AUM and NAV CAGR to FY24
Investment companies | research Review | 17 December 2021
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Price performance
%
1m
3m
12m
Actual (16.7) (14.5) (27.3)
Relative* (6.2) (3.6) (11.7)
52-week high/low €40.5/€25.0
*% relative to local index
Key management
Torsten Grede CEO
Susanne Zeidler CFO
Roland Rapelius IRO