Brookfield recently purchased DWS Group, a division of Deutsche Bank. I would love to hear everyone's thoughts on it - especially considering Bruce Flatt said that secondaries could grow into a $50 billion business for them a few years ago.
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They picked the wrong platform to buy. DWS has no real senior talent left. Brookfield failed a few times trying to launch a secondaries platform. They started with real estate and infra and both are going terribly as they have poor leadership.
Interesting. I’ve met some of the RE secondaries folks there and they seem sharp.
I believe the poster above is the one who says every Secondary platform is shit, so take it with a grain of salt
Frankly puzzled by this acquisition. Like Brookfield couldn't assemble a team from scratch and fundraise a measly $550mm themselves? I would get it if they acquired a scaled platform (like Ares with Landmark) or what Brookfield themselves did with Oaktree.
Doesn't seem to make much sense to me, maybe they didn't have to pay that much for it??
So in other words, you agree with me
I agree that the DWS acquisition doesn't make sense.
I don't have any comment on the existing Brookfield infra/real estate teams, which you think have poor leadership while another commenter views them as sharp.
To clarify the original post, they didn't buy ALL of DWS Group, just their secondaries business
Agree it doesn't make too much sense though - DWS is not a top player here
Weird, I thought DB’s old secondaries business was Glendower. So they spun-out Glendower and then started another secondaries business?? Which they have now sold again to Brookfield?
Glendower is CVC
Deutsche > spun out to form Glendower > acquired by CVC.
DWS was the rebirth of Deutsche's secondary program after the Glendower spinout. Issue is all the key people for DWS left over the last few years so they bought a ghost platform.
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Any thoughts on Brookfield's real estate secondaries platform?
Low quality
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