Cerberus takes 3 percent stake in Deutsche Bank

A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany, September 30, 2016.
Kai Pfaffenbach | Reuter

U.S. buyout fund Cerberus has taken a 3 percent stake in Deutsche Bank, Germany's flagship lender said on Wednesday.

The investment makes Cerberus the fourth-largest shareholder after China's HNA group, Qatar and money manager Blackrock .

The move comes after the investor built a 5 percent stake in the country's second-largest listed bank, Commerzbank, in July.

Cerberus declined to comment.