German lenders including Deutsche Bank and fintech platform Trade Republic are expanding access to private equity for retail investors, as financial institutions move to tap Germany’s €9tn pool of household savings, the FT reports.

Deutsche Bank recently launched a private markets fund with Switzerland’s Partners Group, requiring a minimum €10,000 investment and at least €200,000 in assets under management per client. Meanwhile, Trade Republic has teamed up with EQT and Apollo Global Management to offer exposure to private equity from just €1, signalling a broader shift toward democratising access to alternatives.

BlackRock has also partnered with UniCredit’s German subsidiary HVB and online broker Scalable Capital to launch a similar product with a €10,000 entry point.

“German retail investors represent one of the world’s largest untapped pools of wealth, and private equity firms are eager to gain access,” said Claudio de Sanctis, Head of Retail Banking at Deutsche Bank.

The renewed interest follows years of institutional investors pulling back commitments amid slower distributions from existing funds. With retail participation rising sharply through digital platforms, German banks are seeking to channel savings away from low-yield deposits into higher-return alternative assets.

Trade Republic co-founder Christian Hecker said the response from investors has been strong. “We Germans may be sceptical of capital markets, but we are proud of our private companies, and this lets investors take part in that story,” he said.

Germany has historically been wary of private equity, with former Social Democratic leader Franz Müntefering labelling buyout firms “swarms of locusts” in 2004. But industry sentiment has shifted as attitudes toward long-term investing evolve. “Compared to 10 or 20 years ago, perceptions in Germany have changed significantly,” said Partners Group Chair Steffen Meister.

Still, industry leaders warn that investor education remains vital. “If we introduce this critical asset class to affluent and retail investors properly, we’ll have done a real service to our community,” de Sanctis added.

The push mirrors international trends, with U.S. and UK regulators easing access to private markets for individual investors. For Germany, it represents a structural shift, one that could reshape how Europe’s largest economy invests its vast household wealth.

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