Guggenheim Partners is focusing solely on the purchase of RREEF after talks to buy all of Deutsche Bank’s asset management business stalled.
In a statement, the German bank confirmed it had “agreed to focus its exclusive negotiations” with the US investment manager “on a potential sale of RREEF”.
The Guggenheim-family vehicle had been in exclusive negotiations to take over the entire €516bn (£443bn) global asset management group.
The deal reportedly fell apart after Deutsche Bank withdrew its offer to guarantee revenue shortfalls of up to €800m for five years from a revenue baseline of €1.2bn.
The group comprises DWS Americas, the mutual fund business; Deutsche Insurance Asset Management, the global insurance asset management business; and DB Advisors, the global institutional asset management business, as well as RREEF.
