Tikehau Capital has closed the sixth vintage of its European Direct Lending strategy at €5.2bn (£4.4bn), with the majority of commitments raised from investors outside Europe.

The fund attracted support from “a broad and diversified” institutional investor base, with 18 per cent of commitments coming from North America and 29 per cent from Asia and the Middle East.

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The alternative asset manager said the final close represented a nearly 60 per cent increase on its predecessor fund and demonstrated the “continued confidence” of investors in its investment approach across the European middle market. 

The investment period for the sixth generation of its European Direct Lending strategy began in March 2024, and since then the strategy has completed 30 transactions and realised four exits generating double-digit returns.

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To date, the fund is 44 per cent deployed across European companies that exhibit established business models and “strong competitive positioning”, and has an average sector exposure of 10 per cent.

Tikehau Capital, which manages €53bn of assets, said that its 30-strong private debt deal team is “actively pursuing opportunities in the European core mid-market segment”, alongside tier one private equity sponsors “with whom the group has built strong relationships over successive vintages”.

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