(Bloomberg) -- Deutsche Bank AG’s private-equity group is seeking $1 billion for its next fundthat will buy investors’ stakes in private-equity funds, according to two people familiar with the situation.

DB Secondary Opportunities Fund III LP, which the firm is raising just less than a year after closing its predecessor, will purchase stakes at a discount in funds that have already invested a substantial amount of capital, said the people, who asked not to be identified because the information is private. The prior fund raised $614 million last year.

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