Tikehau Capital, the global alternative asset management group, has held the final close of Tikehau Special Opportunities Fund II (TSO II) with total commitments of EUR617 million.
TSO II, which had an initial target of EUR500 million, is the second vintage of Tikehau Capital’s Special Opportunities strategy and is more than four times larger than its predecessor.
Launched in late 2019, TSO II has a flexible investment mandate, providing corporate and asset-backed capital solutions across primary and secondary credit markets in Europe. The strategy’s opportunistic and multi-sector approach enables it to invest through market cycles and macro-economic environments. It is managed by a diverse and experienced team of eight professionals and draws upon the expertise of the wider Tikehau Capital investment platform across private debt, private equity, real estate and capital markets.
To date, TSO II has deployed more than 50 per cent of its commitments through closed and secured investments. The pace of deployment increased substantially in 2020 following the onset of the Covid-19 pandemic. More recently, the Tactical Strategies team has pivoted its focus towards private situations across real estate and corporate credit, demonstrating the agility of the strategy. Typical investments range from rescue loans to corporate liquidity financings, to bespoke capital solutions to support the expansion plans of companies with limited access to traditional capital markets and financing solutions.
Maxime Laurent-Bellue, Head of Tactical Strategies at Tikehau Capital, says: “TSO II exceeded its fundraising target thanks to the support of existing and new LPs and partners, including the insurance companies, pension funds and family offices across 16 countries. Our differential strategy is attractive to clients and they value the expertise of our team and Tikehau Capital’s track-record of delivering strong risk-adjusted returns. We have a very strong pipeline of opportunities, and we will continue to focus on the fund’s deployment.”
Jean Odendall, Fund Manager of Tikehau Special Opportunities II, adds: “We will continue to follow the same disciplines patient and opportunistic strategy which is designed to help borrowers in Europe who are currently unable to access traditional funding solutions. Each situation is unique, and our priority is to provide bespoke, innovative and flexible capital solutions on a case-by-case basis to generate attractive risk-adjusted returns for our investors.”
