Tikehau Capital is in discussions with quite a lot of banks to arrange “mutually helpful” partnerships on merchandise.
The French asset supervisor, which has €51bn (£44bn) in belongings beneath administration, 46 per cent of which is in credit score, has an extended historical past of partnerships with different asset managers, insurance coverage firms and banks.
Most not too long ago, the group arrange a strategic alliance with Nikko Asset Administration to broaden into Asian non-public markets; partnered with stockbroker UOB-Kay Hian to launch a credit score technique; and launched a defence-focused fund with Société Générale Assurances, CNP Assurances and CARAC Group.
Again in 2014, the agency had signed a partnership with Amundi, with the previous taking a stake within the latter and cooperating on non-public debt administration.
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“The agency has been constructed with partnerships. We like partnerships,” Maxime Laurent-Bellue, deputy chief government and co-head of credit score, instructed Different Credit score Investor.
“We’ve performed partnerships with all types of gamers over the previous 20 years. With households, with banks, with asset managers. So, that is one thing we’re all the time open to. Now we have some dwell discussions with banks, for example.
“That is an space that we’re very a lot centered on. And this will take many alternative types. It may be very a lot native…or it may be world on a product. It must be mutually helpful. I believe it’s actually the chance that can drive the choice to maneuver ahead. However we’re consistently having discussions.”
Tikehau’s non-public credit score arm, with €23.4bn in belongings beneath administration, invests throughout direct lending, secondaries, collateralised mortgage obligations (CLOs), particular alternatives and actual property debt. Though it’s a large platform, enlargement and development are nonetheless very a lot entrance of thoughts.
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Laurent-Bellue mentioned the group has just a few strategic tasks within the pipeline, which may embrace new adjacencies or complementary merchandise inside its present core methods. Whereas he wouldn’t elaborate on any additional particulars, he famous that on the CLO aspect they’re actively working to launch a captive fairness fund within the fourth quarter of the 12 months.
He additionally mentioned that though they’re at the moment investing in digital infrastructure via the true property technique, “sooner or later the query will likely be whether or not we must always dedicate a method as nicely”.
“We’re European-rooted however we wish to proceed to broaden,” he added. “For certain, Europe will stay and remains to be our core playground. Particularly within the present atmosphere, the place there may be lots of curiosity in Europe for good causes. That is only a reflection of how the enterprise has grown not too long ago. We’re now working with 17 workplaces globally. So, naturally, we elevate and deploy extra capital globally.”
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The group can be innovating in terms of tapping the non-public wealth channel, which Laurent-Bellue mentioned is a key focus. Personal capital at the moment makes up round 30 per cent of Tikehau’s belongings beneath administration. Most not too long ago, Tikehau rolled out a personal credit-focused European long-term funding fund.
“We’ve been efficiently launching some unit-linked methods partnering with insurance coverage firms in non-public credit score and extra not too long ago non-public fairness,” he mentioned. “As well as, we not too long ago launched an evergreen semi-liquid non-public credit score product which is rising quick and we intend to scale it over the approaching months.”
