Tikehau Capital has listed on the Euronext exchange in a bid to ramp up growth, the firm said.
Shares were priced at €21 at the beginning of trading today and had risen to €21.85 at the time of writing. The firm’s market capitalisation is €1.5 billion.
Established in 2004, the firm manages a private debt platform in addition to its offerings in private equity, real estate and liquid strategies. The firm has around €10 billion of assets under management.
Last week, the Fonds Stratégique de Participations (FSP) acquired a 5.5 percent stake in the company for €80 million. The FSP, which is managed by the Edmond de Rothschild group, is a mutual fund corporation which provides capital to French companies on behalf of insurers including BNP Paribas Cardif, Credit Agricole and Sogecap.
The move follows Singaporean investment company Temasek and the listed Peugeot family entity FFP which both became shareholders in Tikehau in the summer.
“Consolidating our asset management and investment business and simplifying our shareholder structure and governance will benefit us as we step up the pace of growth. Listing offers additional visibility and a trust factor for our investor clients,” said Tikehau co-founders Antoine Flamarion and Mathieu Chabran.
In September, Tikehau closed its third direct lending fund after raising €610 million from institutional investors. The firm followed up the announcement with the acquisition of Lyxor’s European private debt funds.
Tikehau employs 170 people across its offices in Paris, Brussels, London, Milan and Singapore.