European alternative asset manager Tikehau Capital raised $300 million for its inaugural collateralized fund obligation (CFO), according to a corporate regulatory announcement.
The underlying CFO assets consist of interests in private debt funds that were mainly held on Tikehau Capital’s balance sheet. These holdings include exposure to the firm’s flagship direct lending strategy and to its private debt secondaries strategy.
Tikehau said the rated debt and equity tranches have been placed to large U.S. institutional investors, while the $40 billion management firm retains part of the equity. The structure offers investors a way to access to private debt. Officials added that the interest in the CFO highlights U.S. investor’s confidence in Tikehau’s strategies and marks a milestone for Tikehau Capital’s expansion in North America.
