Tikehau Capital: Q1 2017: Assets under Management (AUM) as at 31 March 2017 and Further Dynamic Development
May 17 2017 - 12:01PM
Business Wire
First quarter 2017
highlights
- Tikehau Capital listing on Euronext
Paris on 7 March 2017
- €10.3bn1 AUM as at 31 March 2017
- Momentum in the asset management
business line remained buoyant
- Proactive management of the private
equity portfolio
- New locations: a branch in Madrid
(Spain) and a representative office in Seoul (South Korea)
Regulatory News:
Tikehau Capital (Paris:TKO):
I – AUM growth during Q1
2017
Tikehau Capital AUM came to €10.3bn as at 31 March 2017. Growth
of €0.3bn in AUM since 31 December 2016 was primarily due to net
inflow of €0.3bn in liquid strategies. It should be noted that AUM
published by the Company on 31 December 2016 were established on a
pro forma basis, including events occurring in early Q1 2017, such
as the €200m capital increase.
Tikehau Capital AUM breakdown as at 31 March 2017:
- Private Debt: €4.9bn, i.e., 48% of AUM
- Real Estate: €1.8bn, i.e., 17% of AUM
- Private Equity: €1.4bn, i.e., 14% of AUM
- Liquid Strategies: €2.2bn, i.e., 21% of AUM
AUM on 31 March 2017 do not include capital raised concerning
Group strategies which were launched during Q1 and have been
completed since 31 March, or are expected to be finalised
during 2017.
_______________________
1 Unaudited data
II – Main events since
1st January 2017
Asset management
Since 1st January 2017, Tikehau Capital has reached a number of
symbolic milestones in its asset management business, illustrating
the Group’s strong commercial momentum driven by the recent
IPO:
- Tikehau Taux Variables, the flagship
bond fund managed by our Liquid Strategies team, broke through the
€1bn AUM threshold in February; and
- Tikehau Senior Loan II, the Group’s
main senior debt fund completed its final closing at the end of
April, at €615m.
Tikehau Capital Europe launched the warehousing phase for its
3rd CLO transaction (CLO III) which should be finalised during
Q3.
The Tikehau Investment Management teams continued deploying
existing strategies through the launch of new funds in private
debt, real estate and private equity, which will contribute to the
Group’s dynamic development strategy.
Investment
Tikehau Capital has also actively rotated its private equity
portfolio since the beginning of 2017.
Divestments:
- In early April, Tikehau Capital sold
its stake in Ecotel Chomette Favor (E.CF) to Naxicap
Partners. This investment generated gross capital gains of €18.2m
for Tikehau Capital, i.e., a gross
return on its initial investment of 2.8x.
- At the end of April, Tikehau Capital
announced its divestment from Groupe Flo in the context of
the company’s restructuring. Subject to suspensive clauses being
satisfied, Groupe Bertrand will buy Financière Flo, paying the
symbolic price of €1. Financière Flo is 66% controlled by GB Inno
BM (held jointly by Compagnie Nationale à Portefeuille and
Ackermans van Haaren) and 34% owned by Tikehau Capital. Tikehau
Capital’s investment totalled €7.9m as at 31 December 2016. In the
context of the company’s restructuring, Tikehau Capital shall
continue to hold approximately €2.1m of Groupe Flo bond debt.
- At the beginning of May, Tikehau
Capital and the other shareholders of Asten Santé announced
that exclusive negotiations were underway with Groupe La Poste for
the sale of a majority stake in Asten Santé, which is one of the
leaders in homecare services on the French market. In April 2014
and April 2016, Tikehau Capital had invested a total of
approximately €28.5m for a 21% capital stake in Asten Santé.
Following the sale of its stake and the simultaneous unwinding of
the agreements binding the Group to the other shareholders, Tikehau
Capital will generate a pre-tax capital gain of around €16m,
i.e., a gross return on its initial
investment of 1.6x.
Investments:
- At the end of March, Tikehau Capital
announced its role as lead manager in a deal securing funding of up
to €65m for the European leader in sensitive-data management
solutions Oodrive, to accelerate the company’s growth. The
deal raised a total of €43m in investments in Oodrive, including
€28m for Tikehau Capital.
- In May, Tikehau Capital entered into an
agreement to take a minority stake in Claranet alongside the
current shareholders. Claranet is an independent leader in
integrated hosting, networks and communications managed-services
based in London and operating in seven European countries and
Brazil. Tikehau Capital will invest £80m in ordinary and preference
shares alongside the current shareholders.
- In May, Tikehau Capital announced the
acquisition of a 7.6% stake in the listed investment company
Eurazeo.
III – Outlook and development
strategy
In line with its strategy, the Group is pursuing its
international development. In this respect, the Group’s asset
management subsidiary Tikehau Investment Management has taken
initial steps towards opening a branch office in Madrid in Spain
and a representative office in Seoul in South Korea. The
inauguration of these new sites will boost the Group’s
international sales momentum.
The Group is also actively developing all of its business lines,
either by expanding into new activities, or reviewing growth
opportunities, in-line with the strategic plan presented in
connection with the IPO.
Forthcoming events
• Annual shareholders meeting: 1st June 2017
• Interim results release: 21 September 2017
About Tikehau Capital
Tikehau Capital is an asset management and investment group
which manages €10,3bn of assets, with shareholders’ equity of
€1.5bn. The group invests in various asset classes (private debt,
real-estate, private equity and liquid strategies), including
through its asset management subsidiary Tikehau IM, on behalf of
institutional and private investors. Controlled by its managers,
alongside leading institutional partners, Tikehau Capital employs
170 staff in its Paris, Milan, Brussels, London and Singapore
offices.
Tikehau Capital is listed on Euronext Paris, compartment A (ISIN
code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com
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Tikehau Capital Press and Investor
Relations:Julien Sansonjsanson@tikehaucapital.comTel.:
+33 1 40 06 18 40orPress Contact:Leslie
Jungljung@image7.uk.com+44 781 864 18 03
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