Germany's Deutsche Beteiligungs AG has set up DBAG Fund VIII, a new private equity fund.

It has raised over €1 billion to date and will itself commit €255 million. It will be split into a main fund of €900 million and a top-up fund with €200 million.

DBAG Fund VIII will make equity investments worth between €40 million and €100 million in companies that are valued between €75 million and €250 million.

Deutsche Beteiligungs expects to close the fund in early 2020, and with it anticipates that total assets under management will reach about €2.5 billion.

The fund's predecessor closed on €1.01 billion.