US buyout fund Cerberus Capital Management has acquired a 3% stake in German banking group Deutsche Bank.
The move makes Cerberus the fourth largest shareholder in the German lender, followed by Chinese conglomerate HNA Group, Qatar’s royal family and American money manager BlackRock.
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“We welcome every investor who believes in the value potential of the Deutsche Bank share,” the bank noted.
The latest deal increases Cerberus’ exposure to the German market. Earlier this year, the investment firm bought a 5% stake in German lender Commerzbank.
“We have a constructive view of European fundamentals and believe Germany is a highly attractive place to invest, in particular. Within Germany, we believe there are attractive long-term opportunities in retail and corporate banking due to Germany’s robust economy, high savings rate, and a number of other factors,” a Cerberus spokesman said.
