Deutsche Bank’s private equity arm has offered to buy out existing investors in Zurmont Madison's one and only fund in a near-Sfr100 million ($102 million) deal that would throw a lifeline to the decade-old Swiss private equity firm, which has been attempting to restructure the vehicle for a year.

Deutsche Bank's proposal has emerged as northern Europe-focused private equity firm Triton Partners - which has been eyeing Zurmont's companies for a few months and offered to buy a portfolio of assets in May and again in September - is planning to increase its bid for the three assets owned by Zurmont's fund by 15% to 20% by the end of this week, according to two people familiar with the matter.