Tikehau Capital to sponsor SPAC focused on European financial services sector
Tikehau Capital is to sponsor a first Special Purpose Acquisition Company (SPAC), which will focus on the European financial services sector.
Since its inception in 2004, Tikehau Capital has built a strong track-record of backing high-quality companies through equity or debt financing. Investment vehicles like SPACs are a natural extension of Tikehau Capital’s existing investment expertise, and the Group aims to leverage its global network, origination capacity and strong equity base to sponsor value-creating projects, starting with a first SPAC that will focus on European financial services related businesses, with a primary focus on scalable platforms offering strong profit growth potential.
This initiative will leverage the recognised industry expertise, deal sourcing and execution capabilities of its four founding sponsors. Jean-Pierre Mustier and Diego De Giorgi, two of Europe’s most experienced bankers, will be the operating partners of the company. Financière Agache and Tikehau Capital, as strategic and financial sponsors, will bring meaningful resources and support to the company.
Targets will be aligned to four financial services areas undergoing an accelerated transformation: traditional and alternative asset management platforms, innovative financial technology firms, insurance and insurance related services and diversified financial services companies with strong customer propositions in attractive segments.
Financière Agache and Tikehau Capital’s founders and investment teams have already collaborated on several deals across various strategies and sectors. An affiliate of Financière Agache has been a shareholder of Tikehau Capital for the last 15 years. Jean-Pierre Mustier was a partner of Tikehau Capital from January 2015 to July 2016 and has worked closely with Diego De Giorgi on mergers and acquisitions and capital markets transactions for over a decade.
The four sponsors plan to invest collectively a minimum of 10 per cent of the initial amount raised and to commit to enter into a substantial forward purchase agreement.