- Tikehau Capital has successfully raised a record €3.3 billion for the fifth generation of its direct lending strategy, up 57% compared to the previous vintage.
- Within this strategy, Tikehau Capital's flagship fund received €2.1bn in capital commitments, a significant upsizing from the previous generation.
- The capital raise received strong support from high-quality institutional investors globally with more than 35% of commitments received from outside of Europe.
Regulatory News:
Tikehau Capital (Paris:TKO), the global alternative asset manager, today announces that it has raised a record €3.3bn for the fifth generation of its direct lending strategy. The fundraise comprises Tikehau Direct Lending V ("TDL V"), the flagship vehicle for the Group's direct lending strategy, which has reached a final close, and bespoke mandates and side vehicles.
The record fundraise reflects Tikehau Capital's position as one of the most established direct lenders in Europe and signals continued strong appetite for the asset class from institutional investors globally. The €3.3bn raised for the fifth generation of the direct lending strategy exceeds by 57% the €2.1bn raised for the previous generation in 2019.
The capital raise received strong support from a variety of investors globally, including family offices, pension funds and insurance companies. The strategy attracted capital from investors already present in the previous vintage and which increased their commitments by c. 60% in the fifth generation, as well as a growing number of new international LPs, which shows a wide recognition of Tikehau Capital's expertise and is a testament to the Group's global expansion strategy.
In addition, 83% of capital commitments were received from LPs based outside of France, and more than 35% outside of Europe.
Launched at the end of 2020, TDL V aims to provide a wide range of bespoke financing solutions to European SMEs. Tikehau Capital is a pioneer in the European private debt market having launched its direct lending strategy in 2007. Since then, the Group has developed a best-in-class platform which offers in depth expertise and a diverse range of financing solutions including stretched senior, unitranche, mezzanine financing and PIK notes and played a leading role in ESG considerations applied to private debt.
This latest generation direct lending fund has already invested in 55 SMEs across Europe to build a highly diversified portfolio, including Benelux, Spain, Italy, Germany, UK and France, as well as Canada. Since inception, Tikehau Capital's private debt team has continued to focus on maintaining its highly disciplined approach towards attractive risk-return profiles and the creation of diversified portfolios.
Cécile Mayer-Lévi, head of Private Debt for Tikehau Capital, declared: "The successful closing of TDL V is tribute to the work of Tikehau Capital's experienced private debt team and its capacity to finance highly diversified operations in Europe. It also illustrates the support of new and existing LPs and partners globally with investors in the fourth vintage reinvesting in this latest generation. This is testament to Tikehau Capital's disciplined investment approach and solid long-term track record. We have a very strong pipeline of opportunities and will continue to focus on deploying the fund's capital to finance Europe's leading SMEs."
ABOUT TIKEHAU CAPITAL
Tikehau Capital is a global alternative asset management group with €36.8 billion of assets under management (at 30 June 2022).
Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies.
Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives.
Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders' equity at 30 June 2022), the firm invests its own capital alongside its investor-clients within each of its strategies.
Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 725 employees (at 30 June 2022) across its 13 offices in Europe, Asia and North America.
Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.
DISCLAIMER:
This fund is managed by TIKEHAU INVESTMENT MANAGEMENT SAS (on behalf of the funds that it manages), a portfolio management company approved by the AMF since 19/01/2007 under number GP-0700000006.
This document does not constitute an offer of securities for sale or investment advisory services. It contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed.
Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties. actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital's advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.
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Contacts:
PRESS:
Tikehau Capital: Valérie Sueur +33 1 40 06 39 30
UK Prosek Partners: Henrietta Dehn +44 7717 281 665
USA Prosek Partners: Trevor Gibbons +1 646 818 9238
press@tikehaucapital.com
SHAREHOLDER AND INVESTORS:
Louis Igonet +33 1 40 06 11 11
Théodora Xu +33 1 40 06 18 56
shareholders@tikehaucapital.com
