Private equity fundraising in Germany this year has already surpassed 2023’s total, pointing to a rebound in investor appetite for Europe’s largest economy.
More than €4.9 billion was raised across eight funds in 1H 2024, beating the total of €4.5 billion raised in 2023, according to PitchBook’s latest Q2 Germany market snapshot.
The largest close came from Munich-based Bregal Unternehmerkapital which raised €2.7 billion for its fourth flagship fund in May. It is the first German fund to raise over €1 billion since 2021.
Deal activity is also on a steady uptick with 2024 recording stronger quarters than in 2023. In Q2 alone, there were three deals worth over €1 billion.
The largest deals of the year include TPG and Caisse de dépôt et placement du Québec’s acquisition of Aareon, a property management systems provider, from Aareal Bank and Advent International for €3.9 billion.
KPS bought into mission-critical electric motor supplier Innomotics from Siemens for €3.5 billion, while a Certares-led consortium bought FTI Group for €1 billion.
The German PE market is on a constant expansion with asset under management reaching €37 billion at the end of 2023.
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