Law firm Stephenson Harwood LLP has advised DPE Deutsche Private Equity (DPE) on the establishment of a €708 million continuation vehicle, DPE Continuation Fund I (DPE CF I), Germany's largest GP-led secondary.

DPE CF I was established to acquire interests in Eraneos Group and valantic Group – two strongly performing assets from DPE's third fund. The vehicle will provide additional capital and time, allowing DPE to continue its highly successful growth strategies which have been implemented since DPE's initial investments in both companies.

DPE CF I has been capitalised by a consortium of leading global secondary investors, led by AlpInvest Partners and co-led by HarbourVest Partners and Pantheon Ventures, alongside several further new and existing investors.

DPE is an independent German private equity firm and is one of the largest growth capital investors in Germany. DPE invests in SMEs across Germany, Austria and Switzerland and focuses on medium-sized companies that are active in sectors with a positive long-term development perspective. Founded in 2007, DPE has invested in 36 companies which have performed over 10 add-on acquisitions and today employ more than 10,000 people. DPE has total assets under management of c. €3.0 billion.

The Stephenson Harwood team was led by private equity partners Gabriel Boghossian and Sarah de Ste Croix, who were supported by managing associate Emily Davies and associates Elliott Dagul and Bethany Carr. Stephenson Harwood worked in collaboration with Latham & Watkins, Walder Wyss, Arendt, Alvarez & Marsal, Pöellath + Partners and Proskauer who supported the transaction as German, Swiss and Luxembourg specialist counsel. PJT acted as exclusive financial adviser to DPE.