Tikehau Capital AUM: €12.6bn as at 30 September 2017
November 02 2017 - 2:05PM
Business Wire
- Strong fundraising in Q3
- Close to the €13bn 2017 FY AUM
target
Regulatory News:
Strong AUM growth during Q3
2017
Tikehau Capital (Paris:TKO) AUM came to €12.6bn as at 30
September 2017, a 13% net increase compared to 30 June 2017 and a
26% increase since 31 December 2016.
Growth of €1.5bn in AUM since 30 June 2017 was mainly driven by
inflows of €0.6bn in the private debt business and inflows of
€0.3bn in the liquid strategies. The private equity business also
benefitted from the €0.7bn capital increase completed on 23 July
2017.
In the private debt business, the increase in AUM was mainly
driven by (i) Tikehau Direct Lending IV, the new vintage of
direct lending fund, with the completion of an initial closing
during the third quarter and (ii) the finalization of a third CLO
(Collateralized Loan Obligations) for a final amount of €435m. This
fund, launched on 19 September 2017, enables Tikehau Capital to
exceed €1bn AUM in its CLO business.
The fixed income strategies continued to attract strong inflows
over the third quarter; especially Tikehau Capital’s flagship bond
fund “Tikehau Taux Variables” which broke through the
€1.5bn AUM threshold in August.
Tikehau Capital AUM breakdown as at 30 September 2017:
- Private Debt: €5.5bn, i.e., 44% of the Group’s AUM and an increase of
10% over Q3
- Real Estate: €1.9bn, i.e., 15% of the Group’s AUM and a decrease of 1%
over Q3
- Private Equity: €2.3bn, i.e., 18% of the Group’s AUM and an increase of
39% over Q3
- Liquid Strategies: €2.9bn, i.e., 23% of the Group’s AUM and an increase of
13% over Q3
Outlook and development
strategy
The Group is actively developing all of its business lines,
notably by launching new funds and reviewing growth opportunities,
in-line with the strategic plan presented in connection with the
company’s rights issue in July. On the basis of the fundraising
carried out since the beginning of the second half of 2017, Tikehau
Capital is confident in reaching its objective of €13bn in AUM by
the end of the financial year, i.e.,
an increase of at least 30% in AUM for the full financial year
(assuming stability in the AUM in its liquid strategies).
In particular, on 31 October, Tikehau Capital announced the
acquisition (through a fund managed by its asset management
subsidiary Tikehau Investment Management) of a portfolio of c. 200
office real estate and business assets from EDF Group. The
portfolio is comprised of assets located in Ile-de-France and other
French regions, covering floor space of approximately 400,000
square meters. This transaction brings the Group’s real estate AUM
to over €2.2bn, i.e., a 27% increase
since the beginning of the year.
In addition, the performance of Tikehau IM, Tikehau Capital’s
asset management subsidiary, was recognized through the “Best 2017
Asset Manager” Award Tikehau IM received at the Global Invest Forum
event held by L’Agefi in October this year.
Finally, the Group is currently working on obtaining new
financings which are intended (i) to be used for general corporate
purposes and (ii) to refinance its existing debt. The objective of
the Group is also to benefit from attractive financing conditions
that are currently available. As part of this process, on 31
October 2017, Tikehau Capital secured firm commitments in relation
to a €1bn senior unsecured credit facility. This facility is
comprised of a 5-year term loan and a 5-year revolving facility. In
the credit facility documentation, Tikehau Capital undertook to
respect a maximum loan-to-value ratio of 47.5%.
About Tikehau Capital
Tikehau Capital is an asset management and investment Group
which manages €12.6bn of assets, with shareholders’ equity of
€2.3bn. 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
185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul 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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version on businesswire.com: http://www.businesswire.com/news/home/20171102006417/en/
Tikehau Capital: +33 1 40 06 18 40Julien Sanson –
jsanson@tikehaucapital.comorImage 7: + 44 781 864 18 03Leslie Jung
– ljung@image7.uk.com
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