Braunstein, a former finance chief of JP Morgan Chase, invested in Deutsche in 2018, backing Chief Executive Christian Sewing's efforts to turn around Germany's biggest bank and making him one its largest shareholders. Braunstein declined to comment on the reason for the reduction. Deutsche Bank, whose shares have risen 35% since Braunstein's investment was announced, said in a statement it was aware of the move, "which we understand is an in-kind distribution to certain" limited partners.
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