French private debt group Tikehau Capital and fund management group Amundi Asset Management have agreed a strategic partnership, the pair confirmed in a statement.
Amundi, one of the world's top 10 asset managers based on assets under management (it oversees almost €780 billion), will take a 12.8 percent stake in Tikehau Investment Management as part of the deal, alongside existing partners Arkéa. It will also become a shareholder in Tikehau Capital Advisors, the head structure of the Tikehau Group, with a 7.3 percent holding alongside existing backer Unicredit and the firm's partners.
The partnership will for the first time allow retail investors access to Tikehau's private debt operation.
“The two companies will focus their cooperation on private debt management to offer institutional and retail clients high value-added products for their investment return needs in a low interest rates environment,” the statement said. “Leveraging on its strong international presence, Amundi will provide its clients with access to Tikehau IM’s innovative and bespoke product range. This agreement will enable Tikehau to accelerate the development of its asset management platform, Tikehau IM, targeting all client segments from retail clients to institutional investors and sovereign funds,” it added.
The two firms said they would also consider launching new products marketed under the Amundi / Tikehau dual brand.
Amundi has a sizeable fixed income operation with more than €400 billion in AUM and through this deal will “reinforce” its private debt funds offering, which already represents €4 billion of AUM.