Tikehau Capital Achieves Record Net New Money in 2021 With €6.3bn Raised for Its Asset Management Business
January 05 2022 - 11:45AM
Business Wire
Regulatory News:
2021 was an outstanding year for Tikehau Capital (Paris:TKO).
The firm is reaping the benefits of its differentiating strategy
with record-breaking levels of net new money achieved in 2021,
reaching €6.3bn for the full year, a 50% increase compared to the
€4.2bn average yearly fundraising achieved over the past 3 years.
As a consequence, Tikehau Capital will reach over €33.5bn in assets
under management at 31 December 2021.
Client demand for Tikehau Capital strategies remained strong all
along the year 2021, which was marked by a particularly strong
finish with net new money of €2.5bn recorded in the sole 4th
quarter. This is a new historical quarterly record for Tikehau
Capital, representing 1.5x the firm’s previous record level
achieved in Q2 2021 at €1.9bn of net new money.
The excellent fundraising performance of 2021 was achieved
across Tikehau Capital’s entire asset management platform and
validates once more the relevance of the Group’s unique model, with
high alignment of interests, strong investment performance and
constant innovation at its core:
- Tikehau Capital’s flagship strategies are scaling up
rapidly, as evidenced by Tikehau Direct Lending V, the Group’s
flagship strategy in direct lending, which already attracted nearly
€2bn of client commitments at end-December 2021, already close to
the total size of its predecessor fund, with fundraising still
ongoing. In addition, Tikehau Capital’s North American
infrastructure strategy1 successfully closed its second vintage in
Q4 with total capital raised of $700m (c.€615m²), a 133% size
increase compared to its predecessor. Finally, 2021 was marked by
the final closing of Tikehau Capital’s second vintage of European
Special Opportunities Strategy (TSO II) which exceeded expectations
with €617m of total commitments.
- In 2021, Tikehau Capital enhanced its product range for
private investors, which offer significant growth potential.
Two unit-linked products have been successfully launched in France,
one in private debt and the other one in private equity, attracting
a total of around €200m of commitments at 31 December 2021, just a
few months after launch. These initiatives, in addition to the
growth at Sofidy as well as the two listed REITs and crowdfunding
platforms operated by Tikehau Capital, are putting the Group in a
strong position to capture the growing demand from private
investors to access alternative assets.
- Tikehau Capital also demonstrated its strong ability to
innovate successfully. For example, the firm successfully
launched its first secondary private debt strategy which attracted
total commitments of c.$310m (c.€275m2) at end-December 2021. 2021
is also a milestone year for Tikehau Capital’s CLO business, with
the successful reset and upsizing of European CLOs I and II, the
closing of European CLO VI as well as the successful launch and
closing in Q4 of the firm’s first US CLO for a size of $400m
(c.€350m²). In addition, 2021 was marked by the final closing of
the firm’s cybersecurity and digital trust fund3 with €175m of
client commitments, exceeding the initial €150m target.
- Finally, leveraging on its expertise, its platform and
track-record, Tikehau Capital has been affirming in 2021 its
position as partner of choice for European governments in
providing financing to the real economy and support the post-Covid
recovery, with material successes recorded in France, Spain and
Belgium.
Building on these successes, Tikehau Capital recorded a
record-high €6.3bn in net new money for its asset management
activities for the full year 2021. Private debt and real assets
accounted for approximately three quarters of net new money, while
Capital markets strategies and Private equity respectively
accounted for c.15% and c.10% of the total.
In addition, in December 2021, the firm’s sponsored-SPAC,
Pegasus Entrepreneurs, successfully raised €210m in a
private placement, which was upsized due to strong investor demand.
This marked the second successful SPAC launch for Tikehau Capital
in 2021, following the IPO of Pegasus Europe which raised
€500m in April, becoming the largest European SPAC to date. These
achievements4 make Tikehau Capital the only European sponsor to
successfully launch two European SPACs in 2021 despite a more
challenging market sentiment.
Leveraging its multi-local platform, its seasoned investment
teams and its strong corporate culture, Tikehau Capital is ideally
positioned to capture the rapidly growing demand from global
investors for alternative assets.
As a consequence of 2021 strong
achievements, Tikehau Capital will reach over €33.5bn in assets
under management at 31 December 2021.
Calendar
3 February 2022
Q4 2021 announcement (after market
close)
9 March 2022
2021 annual results (after market
close)
22 March 2022
2022 Capital Markets Day
21 April 2022
Q1 2022 announcement (after market
close)
28 July 2022
2022 first half results (after market
close)
ABOUT TIKEHAU
CAPITAL
Tikehau Capital is a global alternative asset management group
with €31.8 billion of assets under management (as of 30 September
2021). 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 (€2.9 billion of shareholders’ equity as of
30 June 2021), 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 672 employees (as of 30 September
2021) across its 12 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 document does not constitute an offer of securities, fund
units or any financial instruments 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. In particular, an investment in a fund is
speculative and presents risks, including a risk of loss of
capital. All references to Tikehau Capital’s advisory activities in
the US or with respect to US persons relate to Tikehau Capital
North America.
1 Operated through Star America Infrastructure Partners.
2 Using a 1.13 €/$ exchange rate at 31 December 2021.
3 Managed by Tikehau Ace Capital. 4 The amounts
raised by these SPACs are not included in the net new money nor
assets under management.
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PRESS CONTACTS: 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 INVESTOR CONTACT: Louis Igonet – +33 1 40 06 11
11 shareholders@tikehaucapital.com
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