Cerberus Capital Management, an American private equity firm, has acquired a 3% stake in German lender Deutsche Bank.
The deal makes Cerberus the fourth largest shareholder in Deutsche Bank, after China’s HNA Group, Qatar’s royal family and BlackRock.
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Earlier this year, the private equity firm also bought a 5% stake in another 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 stated.
“We welcome every investor who believes in the value potential of the Deutsche Bank share,” the bank noted.
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