Asset Management
Deutsche-Guggenheim Negotiations Now Geared Towards One Unit
Deutsche Bank and Guggenheim
Partners have focused
their negotiations over the sale of Deutsche’s US asset
management business exclusively
towards a potential
sale of RREEF - its global alternative asset
management business.
The New York- and Frankfurt-listed bank initiated a
strategic review of its global asset management
unit in November 2011, with negotiations between the bank and
Guggenheim first becoming known in February.
The business units previously under
discussion were: DWS Americas, the Americas mutual fund business;
DB Advisors,
the global institutional asset management business; Deutsche
Insurance Asset
Management, the global insurance asset management business;
and RREEF, the
global alternative asset management business.
Deutsche said it a
statement that it will “continue to evaluate these businesses.”
Guggenheim Partners is a privately-held global financial services
firm,
with over $125 billion in assets under management.
The New York- and Chicago-headquartered firm provides asset
management,
investment banking and capital markets services, insurance,
institutional
finance and investment advisory solutions to institutions,
governments and
agencies, corporations, investment advisors, family offices and
individuals.