Paris-based firm Tikehau Capital’s team had a high level of client demand in the first half, with €3.2 billion ($3.25 billion) of net new asset flows as assets totaled €36.8 billion.
Net new money specifically for Tikehau’s private markets strategies amounted to €3.5 billion for the first half, which was a 77% increased compared to assets raised in the first half of 2021. The majority of assets raised (53%) were in private debt strategies, which deployed 2.1 billion during the first half, driven by direct lending strategies and the CLO platform in Europe and in the U.S.
“Tikehau Capital stayed the course in H1 2022, in a challenging market environment,” said Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau, in a statement. “Our discipline, selectivity and strong conviction in focusing on resilient sectors have enabled us to deliver solid results for the first six months of the year.”
Income rose as well with year-on-year growth of 58% of net income, which totaled €277 million in the first half.
Performance and asset valuations remained strong across debt, real estate and private equity investments. Stable marks were reported across private debt funds since the end of 2021. Middle to single digit asset appreciation took place in Tikehau Capital Real Estate funds and IREIT Global in H1 with rent collection rates consistently above 95%.
Average mid-to-single digit appreciation was reported in growth equity and energy transition funds’ holdings in the first half of 2022. Portfolio companies within the private equity funds recorded on average over the last 12 months revenue growth above 50% and EBITDA growth above 1.4x.
Last month, Tikehau Capital through its SPAC raised over €645 million for FL Entertainment and Pegasus Entrepreneurs including €116 million ($122 million) contributed by the SPAC.
“We look to the future with vigilance and confidence and reaffirm our commitment to delivering our 2026 targets: double the size of our asset management AUM, scale up our platform and pursue the expansion of our geographical footprint, whilst generating value for our investors and shareholders,” added Flamarion and Chabran.