DWS is forming a partnership with Northwestern Mutual Capital (NMC), the private markets division of US insurer Northwestern Mutual.
DWS said NMC had been investing in private markets for more than 40 years, and that the partnership, which is to identify and develop private market opportunities, “represents a strong addition to DWS’s private asset offering to institutional investors”.
The partnership is to see NMC grow third-party assets and further diversify in collaboration with DWS’s global private equity team. NMC has a team of 35 investment professionals.
“The close relationship between NMC and DWS, combined with demand for differentiated alternative strategies from DWS’s global institutional client base, make this partnership a clear and logical next step for our business,” said Mark McDonald, global head of private equity at DWS.
Benefits to NMC, meanwhile, were said to include the ability to “leverage DWS’s investment strength and capabilities, global presence and deep relationships with institutional investors around the world”.
“Joining forces with DWS will enable Northwestern Mutual Capital to provide private equity-related solutions to an expanded institutional investor base while continuing to support Northwestern Mutual’s appetite for these assets,” added Jeff Lueken, senior vice president, Northwestern Mutual.
As at the end of 2019, NMC was responsible for managing portfolios with total assets under management of $55bn (€48bn), including $13bn of private equity and related investments.