German asset manager DWS Group and Deutsche Bank have forged a strategic partnership to develop private credit origination and investment opportunities for DWS clients across the private credit space.
The partnership will provide DWS with preferred access to a range of private credit assets, including asset-based finance and direct lending opportunities originated by Deutsche Bank.
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The collaboration combines Deutsche Bank’s expertise in fixed income, liquidity provision, and financing capabilities, with the investment expertise offered by DWS’s alternatives platform, which managed €110bn ($120bn) as of 31 December 2024.
This cooperation allows DWS to leverage Deutsche Bank’s sourcing and origination capabilities, offering its global client base additional private credit investment options.
Deutsche Bank co-head of investment banking and global head of fixed income & currencies Ram Nayak said: “We are pleased to be partnering with DWS to develop private credit investment opportunities for investors.
“Investor demand for private credit assets is strong and we have a market leading financing business with a long track record in private credit origination across all asset classes going back more than two decades.”
As part of the agreement, Patrick Connors will transition from his current position as European Head of the Global Credit Financing and Solutions business at Deutsche Bank to become the global head of private credit at DWS.
Connors, who has over 20 years of experience in private financing and credit markets, will report directly to DWS CEO Stefan Hoops.
Hoops said: “Private credit is a key offering for our clients who are looking for exposure to real-economy investments.
“Origination is the main differentiator for alternative asset managers, especially for asset-based finance which requires very different origination channels than direct lending.”
In November 2024, DWS Group appointed Vincenzo Vedda as its global chief investment officer (CIO) while consolidating its portfolio management, chief investment office and economic research units.
