(AOF) – Tikehau Capital achieved record net inflows for a first quarter, reaching 1.5 billion euros, up 23% compared to the first quarter of 2023. Net inflows over the last twelve months amounted to 6 .8 billion euros. The assets under management of Tikehau Capital’s asset management activity reached 44.1 billion euros as of March 31, 2024, an increase of 13% over the last twelve months, representing an average annual growth rate of 25 % since 2016.
Tikehau Capital’s closed-end funds deployed 0.9 billion euros in the first quarter, mainly driven by the group’s “yield” strategies. Private debt funds represented 61% of total deployments in the first quarter, “driven by the Group’s CLO platform in Europe and the United States, as well as Direct Lending strategies”.
Looking ahead, the alternative asset management specialist highlights that it “benefits from a strong pipeline of investment opportunities across its asset classes”.
In the first quarter of 2024, divestments within closed funds reached 0.3 billion euros, bringing the level of divestments to 2.3 billion euros over the last twelve months. In the first quarter of 2024, private debt strategies accounted for 56% of total divestments, followed by real asset strategies for 31% and private equity for 13%.
At the end of the first quarter, the group had a dry powder level of 6.7 billion euros (compared to 6.9 billion euros as of December 31, 2023), allowing the funds managed by the group to seize attractive investment opportunities.
Regarding its prospects, Tikehau Capital says it is “convinced of its ability to successfully stand out in a profoundly and rapidly changing environment”. It confirms its objectives of reaching, by 2026, more than 65 billion euros in assets under management for its asset management activity and more than 250 million in fee-related earnings, and of increasing its return on equity to “mid-teens” level, thanks to a net result (group share) increased to around 500 million euros.
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