Tikehau raises €1.2bn for third vintage of special opportunities strategy
French alternative asset manager Tikehau Capital has raised €1.2bn (£996m) for the third generation of its special opportunities strategy, exceeding its initial target of €1bn and nearly doubling the previous vintage, which closed at €617m.
The fundraise includes Tikehau Special Opportunities III (TSO III), the flagship vehicle for the group’s special opportunities strategy, which has reached a final close.
Launched in 2023, TSO III has a flexible investment mandate, providing corporate and asset-backed capital solutions across primary and secondary credit markets in Europe.
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To date, the fund has invested in 13 companies, deploying 55 per cent of its capital through closed and secured investments and has already completed its first exit.
Since inception, the fund’s current performance has exceeded expectations, which Tikehau Capital attributes to having a diversified portfolio with strong downside protection.
“We believe that this is an attractive investment opportunity and are confident that this third vintage is well-positioned to perform strongly,” said Jean Odendall, Tikehau Capital deputy head of tactical strategies and head of Middle East. “The success of our fundraising underscores the confidence and trust investors have in our platform and team.
“Our expanding presence in the Middle East has been instrumental in this fundraising effort, reflecting the region’s growing appetite for innovative investment solutions that offer compelling risk-adjusted returns. We look forward to strengthening these relationships by delivering tailored investment solutions that meet the diverse needs of our partners. ”
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Maxime Laurent-Bellue, co-head of credit at Tikehau Capital, added: “Exceeding our fundraising target for the third generation of our special opportunities strategy is a testament to the strong support we’ve received from both existing and new investors, reinforcing confidence in our ability to source and execute differentiated opportunities in the private credit space.
“We are particularly pleased with the diversity of our investor base, with commitments from insurance companies, pension funds, high-net-worth clients and other institutional partners across Europe and beyond. We remain committed to deploying capital strategically, delivering value for our investors and portfolio companies alike.”
The fund has attracted a diverse base of global investors, with significant commitments from pension funds, insurers, family offices and sovereign wealth funds, according to Tikehau Capital.
Tikehau Capital had €47.1bn of assets under management as of 30 September 2024.
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