Successful realisations confirm broader capability

Deutsche Beteiligungs (DBAG) announced four divestments in May 2017, confirming FY17 as an exceptional year for portfolio activity, with five new investments and six realisations agreed. The sale of private tutoring services firm Schülerhilfe proved DBAG’s ability to complete deals successfully beyond its four traditional sectors of core expertise, while the investment in Vitronet Projekte was DBAG ECF’s first buyout transaction, and More than Meals Europe is the first investment that will use DBAG Fund VII’s top-up fund to finance add-on acquisitions. Recent realisation gains suggest that FY17’s NAV total return could exceed 22%, which would be the highest level since FY12.