Alternatives | Deutsche Asset & Wealth Management


Alternative asset management – at a glance

Deutsche Asset & Wealth Management offers a broad array of alternative investment strategies from core products to bespoke solutions — each built on global perspective, deep knowledge of local markets and in-depth research.

Global in scope, with expertise in key local markets, we help clients access a full spectrum of alternative strategies, all backed by robust risk and compliance technology.

Decades of experience, a worldwide network of investment professionals and expertise in sophisticated product structuring allow us to create custom solutions to address a wide range of objectives and risk profiles.

Targeting best-in-class performance, we leverage a powerful global investment platform and research network to identify and implement the most appropriate strategies to address clients’ specific objectives.


  • assets icon
    EUR 128 bn of assets under management1
  • experts icon
    One of the Largest managers of alternative investments worldwide1
74 bn
83 bn2
Real Estate

Deutsche AWM provides access to the entire real estate spectrum including core, value-added and opportunistic real estate, real estate securities and real estate debt. Each presents potential opportunity for diversification of returns and cash flow generation that have relatively low correlation with traditional investments.

Our real estate investment business invests on behalf of private investors, institutional clients, governments, corporations, insurance companies, endowments and foundations, and retirement plans worldwide. A platform and approach to real estate investing developed over 40 years distinguishes us in the industry. Today, we are ranked among the world's largest real estate managers by AUM in the TowersWatson Global Alternatives Survey (July 2014).

The depth of insight from our integrated, research-driven top-down approach combined with a bottom-up view from portfolio, asset management and transaction professionals gives us unique perspective into the market and allows us to develop actionable strategies. Our size, reputation and long- standing relationships often give us access to a wide range of investment opportunities before they are broadly marketed. Seasoned local teams and a hands-on approach translate into more efficient real estate decisions, potentially increasing property income returns and adding long-term value for investors.

More about real estate


  • Rigorous lifecycle approach to identify, implement and monitor investment themes and tactics seeking superior, long-term, risk-adjusted returns

  • Hands-on, active asset management adding value at the property level

  • Extensive global compliance, portfolio trading and monitoring systems and processes

Deutsche Asset & Wealth Management’s infrastructure investment business has been investing in infrastructure assets since 1994. The global platform – which provides client solutions covering private equity infrastructure, listed infrastructure and infrastructure debt – gives investors access to such economic sectors as transportation, utilities, telecommunications, and other service sectors critical to the basic functioning of local and global economies.

With our extensive experience in acquiring, actively managing, and restructuring investments as an equity or debt investor, we aim to deliver diversification, preservation of capital, competitive yield and long-term performance consistent with our clients’ objectives.

More about infrastructure

  • Global team with regional strategies

  • Coordinated platform provides client solutions in private equity infrastructure and infrastructure debt

  • Private infrastructure teams in Europe and Asia Pacific focus on economic infrastructure such as transportation, utilities and energy-related assets
Liquid Real Assets

For investors interested in accessing alternatives through more liquid strategies, our Liquid Real Assets business offers strategies investing in publicly-traded real estate and infrastructure securities, and commodity investment solutions that include commodities equities and direct commodities (futures). An actively-managed, fundamental, and research-driven approach provides these investment solutions to both individual and institutional investors.

Our integrated research team is able to access and leverage our direct infrastructure and real estate investment teams to help deliver strong relative returns across the U.S. real estate, global real estate, infrastructure and active commodities asset classes.

  • Approximately 40 investment professionals with senior members having long tenures with the firm and in the industry

  • Investment approach focuses on active stock selection by local investment teams, with a global top-down overlay of strategic allocation and risk management

  • Investment solutions available through funds, customized separate accounts or subadvisory appointments
Sustainable Investments

In today's global economy, measurable environmental/social outcomes and competitive market returns are not mutually exclusive. With a primary focus on private equity-type strategies to complement the more liquid sustainability-related strategies offered through Deutsche AWM's Active and Passive businesses, we have a strong track record of creating innovative public-private partnership funds in various themes.

Deep technical expertise and best-in-class knowledge in sustainability, clean technology and social outcome investing serve as the foundation for a strong global platform with the resources to develop public and private investment opportunities to access those areas. To accomplish this, we can leverage strong relationships with local development finance organizations, governments and private institutions around the world. We currently offer strategies focused on African agriculture, European energy efficiency, microfinance and international clean technology.

  • Private equity-type strategies to complement liquid sustainability-related strategies offered through Deutsche AWM’s Active and Passive businesses

  • A strong track record of creating innovative public-private partnership funds

  • An expanding opportunity to mitigate risk, enhance returns, address fiduciary duties or align portfolios to meet investors’ values
Liquid Alternatives

Our holistic approach has integrated structuring, investment management, trading and risk management for more than 12 years.

With deep and long-standing relationships throughout the industry, we have built an open-architecture platform that provides access to in-house expertise across hedge funds, advisory and risk factors, as well as some of the industry's best third-party investment managers. This allows us to help clients attain diversification through access to more than 250 managers across 12 core hedge fund strategies.

We provide a full range of access routes, including 40-act mutual funds, UCITS and AIFMC funds, unfunded managed accounts and custom solutions.

Risk factors

Our Risk factors team is prepared to deliver

  • An extensive suite of risk-factors-based strategies, including traditional asset classes ("traditional betas") and style risk premia ("alternative betas") with customizable implementation vehicles based on client needs
  • Unique access that allows individual factors to be accessed in beta neutral (long/short), beta positive (long-only) and/or beta negative (short-only)
  • Reduced fees through well diversified, risk-factors-based portfolios that seek to utilize the fewest, most liquid assets necessary to achieve the portfolio's goals
  • Best execution and transaction cost analysis (TCA) through a multi-broker approach including TCA on a trade-by-trade basis

More about Liquid Alternatives

  • Transparency – full position-level transparency on the platform and enhanced transparency to the end investor

  • Liquidity – full daily, weekly, or monthly liquidity with short-notice and payout periods

  • Risk control – daily monitoring of liquidity, exposure and other risk factors

  • Security – client assets fully controlled by the platform provider, not the hedge fund manager

  • Independent valuation – net asset value calculations made independently by the hedge fund manager

  • Flexibility – multiple access routes versus traditional offshore fund vehicles
Illiquid Alternatives

Deutsche Asset & Wealth Management provides access to investment opportunities that may not be available through traditional investment channels. That includes direct access to more than 450 private markets partnerships with more than 250 general partners globally. We also offer a broad range of private equity investments including buyouts and growth capital, and special situations including mezzanine and distressed debt and venture capital.

A dedicated 100-person team with offices in London, New York, Cologne, Hong Kong and Singapore — including 40 investment professionals and senior advisors with an average of 14 years of relevant experience — manages more than USD 14.5bn globally through co-mingled funds, managed account solutions, access feeder funds and co-investment opportunities.

We employ an integrated approach that includes consulting, private financing, rigorous due diligence, management and risk analysis. Best-in-class fund and account administration provides a sophisticated framework for timely, transparent and comprehensive reporting, and peace of mind in handling legal, compliance and ESG matters.

Private Equity

We offer co-mingled funds, managed account solutions, access feeder funds and co-investment opportunities for institutional and private clients supported by rigorous due diligence, management and risk analysis processes as well as fund administration and reporting, providing timely, transparent and comprehensive reporting.

Our institutional and private clients are serviced by a seasoned and dedicated team located in London, New York, Cologne, Hong Kong and Singapore with over 30 investment professionals and senior advisors with an average of over 12 years of relevant experience.

More about Illiquid Alternatives

  • USD $13bn in primary, secondary and direct co-investment strategies across private equity, debt, infrastructure and real estate

  • Dedicated in-house structuring teams provide solutions for institutional and private clients across commingled funds, separate accounts and advisory mandates

  • Invested in 450 funds and 250 managers globally

  • 100-person team includes 40 investment professionals
Fund Linked Products & Solutions

Deutsche Asset & Wealth management is a market leader in alternative investment solutions and fund-linked products. We provide access to a wide range of funds, with enhanced principal protection, leverage and liquidity, as well as structuring, trading and risk management functions across all asset classes.

An award-winning track record in product innovation is a testament to our commitment to providing solutions across the entire alternatives product spectrum, specific to clients' needs and requirements such as risk transformation, tax, regulatory capital and retirement.

The combined strength of our investment bank DNA and asset management experience creates a powerful open-architecture platform that seeks to serve the need for true diversification, increased returns and/or reduced risk through low cost, liquid trading strategies. Our trading functionality allows clients to benefit from a wide range of risk overlays such as principal protection, leverage and enhanced liquidity, while our trading and market-making capabilities facilitate secondary trading of hedge funds and distressed fund positions.

  • A market-leading provider of financing, structuring, customized products and risk-managed solutions

  • One-stop shop for non-recourse financing collateralized by alternative investment portfolios

  • A robust bottom-up process

  • Dynamic asset pricing model
Retirement Solutions

A deep understanding of quantitative risk management plus decades of investment experience through diverse market conditions informs a leading range of solutions for pensions, insurance companies and asset managers.

Our retirement solutions focus on diversification through rules-based strategies tailored to meet client goals - rather than simply achieving market exposure. We believe this approach helps to create certainty - a valuable factor when choosing an investment partner.

  • Unique platform backed by unmatched support and experience

  • TradeFinder technology has allowed Deutsche Bank to structure a best-selling range of guaranteed products with diverse features

  • Capabilities include structuring, wrapping, capital protection, execution, fiduciary services, asset allocation and bespoke reporting

  • We manage USD 2.6bn in iCPPI products with more than USD 1.3m iCPPI contracts

  • DB My Life is a new technology that offers a range of guaranteed, individualized unit-linked products with diverse features

  • $10bn of capital protection products currently issued Protecting 1.7m individuals across U.S., Europe and APAC


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1 June 30, 2015, note: percentages may not add up due to rounding differences
2 of which EUR 53.8bn Invested Assets, EUR 18.4bn in conjunction with Active, and EUR 10.4bn Notional