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.