Tikehau Capital has launched its first semi-liquid private debt fund for private investors accessible outside of French life insurance.

The Tikehau European Private Credit fund, which is structured as a European Long-Term Investment Fund (ELTIF), will finance the growth of a range of profitable, mid-sized European companies with the aim of offering investors an attractive risk-return profile, the business said. 

The ELTIF vehicle is designed to encourage individuals to invest in long-term, illiquid assets including private credit. The rules were revised last year, with the updated structure – dubbed ELTIF 2.0 – offering more flexbility and a wider range of eligible investments.

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Tikehau’s evergreen fund is structured as a Luxembourg SICAV and is aimed at intermediary investors via banks, asset management firms, family offices and asset management companies.

It will be available from €40,000 (£33,700) and will be distributed primarily in Europe to professional and non-professional investors.

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“Tikehau Capital has helped to make private debt a benchmark asset class in French life insurance, with more than €1.3bn raised to date,” said Thomas Friedberger, deputy chief executive of the firm.

“Building on this experience, we now want to broaden our approach by offering European investors a semi-liquid evergreen fund backed by private debt assets.”

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