Investment presentation Tikehau Capital


Tikehau Capital was founded in 2004 by Antoine Flamarion and Matthieu Chabran, and is an asset management and investment group focusing on four asset classes: private debt, real estate, equity and liquid strategies. The group employs almost 200 people across eight offices (Paris, London, Brussels, Madrid, Milan, New York, Seoul and Singapore).

The group reorganised its business in 2017 in order to simplify its ownership structure and bring all its activities under the Tikehau Capital banner. That reorganisation led to the group’s IPO in early 2017.

Tikehau Capital has seen rapid growth and had €13.8 billion of assets under management at 31 December 2017, up 38.2% compared with 31 December 2016, and attracted net new money of €3.9 billion in 2017. Net profit, group share, amounted to €314.4 million in 2017, driven by asset management (operating income of €16.0 million) and investing activities (operating income of €347.3 million). Tikehau Capital’s equity amounted to €2.5 billion at the end of 2017, having been strengthened by the €702 million capital increase in July 2017. At end-2017, the group had €975 million of cash and €900 million of undrawn credit facilities, along with €548 million of debt.

Tikehau Capital Advisors (TCA) is the Tikehau group’s parent company and owns 100% of the managing company of Tikehau Capital SCA, the group’s listed investment vehicle.

FFP’s investment

FFP Invest invested €73 million in the Tikehau Capital group in 2016, and then a further €26 million in 2017, mainly through capital increases. Those investments were made in both Tikehau Capital Advisors and Tikehau Capital.

The FFP group (via wholly owned subsidiary FFP Invest) is party to a Tikehau Capital Advisors shareholder agreement.

At 31 December 2017, the FFP group (via its wholly owned subsidiary FFP Invest) owned 6.0% of Tikehau Capital Advisors’ equity and 3.0% of Tikehau Capital’s equity.

The value of the Tikehau Capital Advisors stake for the purposes of Net Asset Value and the consolidated financial statements is estimated using FFP’s policies for valuing unlisted assets. The value of the Tikehau Capital shareholding, for the purposes of Net Asset Value and the consolidated financial statements, is based on the share price at 31 December 2017.

Robert Peugeot is a member of Tikehau Capital Advisors’ Board of Directors.

Update at 2017 December 31st