Tikehau Capital has launched its first private equity continuation fund for portfolio company Egis. The €1bn-plus fund will “support Egis’s growth trajectory and accelerate its global development, particularly through strategic acquisitions”, according to a press statement.
This investment is backed by the second vintage of Tikehau Capital’s flagship private equity decarbonisation strategy, as well as a leading group of investors, including co-lead investors Neuberger Berman (managed funds on behalf of clients), and a Consortium of Apollo S3 and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
The transaction marks the fourth investment made through the second vintage of Tikehau Capital’s private equity strategy dedicated to decarbonisation. The second vintage has now surpassed €2bn in capital raised, just one year after its first closing, reaching a size 1.5x larger than its predecessor vehicle.
Egis is a global specialist in architecture, consulting, engineering, construction and mobility services. The company designs, develops and operates smart infrastructure and buildings that address climate change challenges while fostering more balanced, sustainable, and resilient development.
Tikehau Capital initially acquired a control position in the business from Caisse des Dépôts et Consignations (CDC) in January 2022 through the first vintage of its flagship private equity decarbonisation strategy.
Egis exceeded the growth targets it set out in 2022 several years ahead of plan, and since then has more than doubled its EBITDA and exceeded its revenue targets, with revenue surpassing €2.2bn in 2024.
The capital raise secured via the continuation fund managed by Tikehau Capital should enable Egis to continue this journey and will support its next growth phase, with the company aiming to double its size by 2028 and further solidify its position as a global specialist in the decarbonisation of transport, cities and energy.
In addition, as part of this transaction, the continuation vehicle also benefits from additional subscription commitments to support future capital increases, supporting Egis with the necessary financial resources to pursue its successful buy-and-build-strategy. CDC remains a key shareholder to support Egis’ development.
Tikehau Capital’s decarbonisation strategy focuses on investing in companies at the forefront of global electrification, resource and energy efficiency, low-carbon solutions and climate adaptation.
