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The fund of funds will target primary funds, secondaries and co-investments.

The private equity unit of Deutsche Bank has invested in about eight deals so far from its $1.7bn secondaries fund.

The Blackstone secondaries unit and Willowridge have both picked up stakes in Doughty Hanson's tail-end single-asset third fund.

BAE Systems' pension fund achieved a high price for its stake in DeAWM-managed RREEF Pan-European Infrastructure Fund, according to a source close to the deal.

The fund and Neuberger Berman will continue to have joint discretion on co-investments and secondaries investments for another 3 years starting in August 2016.

This is the 12th office for the Paris-based firm, which is building a local team to focus on fund of funds relationships, and direct, infrastructure and private debt investments.

The Spanish asset manager, which invested €65 million in nine secondaries transactions in 2014, will make sporadic secondaries purchases with its latest VC fund of funds.

The Switzerland-based firm has bought three stakes in a fund managed by IK Investment Partners, which topped a recent list of most in-demand European mid-market LBO managers.

The San Francisco-based firm is in the midst of raising Industry Ventures Partnership Holdings IV. It also recently hired an associate and is looking for a vice-president to focus on secondaries.

Germany's Afinum and capiton came second and third, with buyers paying close to par for the most in-demand funds, according to a report by Setter Capital.