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.
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.