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Tikehau IM closes Direct Lending III fund at EUR610m

Tikehau IM has held the close of its Tikehau Direct Lending III (TDL III) fund at EUR610 million.

Tikehau IM’s total asset under management in private debt amount to EUR3.3 billion.
 
Over 40 per cent of the fund is already invested through 15 portfolio companies based in France, Spain and Norway.
 
Most recent investments include a unitranche financing for the acquisition of Financière Rive Gauche by the ATLAND Group and the acquisition of Marlink, Airbus Group’s commercial satellite communication business, by Apax.
 
The investor base predominantly includes insurance companies, pension funds, private banks and family offices based in France, Spain, Italy, Belgium, Finland, Hong Kong and Canada.
  
TDL III is a fund incorporated in Luxembourg offering a diversified portfolio of private debt solutions (senior debt, stretched senior, unitranche, mezzanine, PIK Note and preferred equity). The fund targets companies valued between EUR50 million and EUR500 million from different sectors and geographic areas.
 
Antoine Flamarion, co-founder of Tikehau Capital, says: “This new generation of fund is larger than our previous vintages and has attracted top-tier investors. This is a recognition of the private debt team’s expertise and its ability to anticipate the needs from both portfolio companies and investors. In a context of growing banking disintermediation, we are convinced that private debt is an attractive and long-lasting solution adapted to the profound changes of the financing markets.”
 
Tikehau IM arranges private debt financing solutions from EUR10 million to EUR300 million and has commitments in over 90 companies in Europe. 
 
Since the beginning of 2016, Tikehau has arranged in excess of EUR700 million of financing, a significant increase compared to 2015 reflecting a growing market share in Europe.

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