<p>According to MarketWatch, citing The Wall Street Journal, the German bank sold the business to two of the unit's former executives, Peter Dowding and Albin Kurti. Meanwhile, Thomson Financial reported, the two former executives have formed a new private equity business, Propel Investments. The new business will continue to manage the funds, worth A$450 million, that the German bank previously managed.<br /><br />Thomson Financial revealed that this sale follows the earlier sales of Deutsche Bank's private equity operations in Europe and the US. <br /><br />The terms of the transaction remain undisclosed.</p>
