Tikehau raises €400m private capital fund for HNWs

Through a new vehicle, the Paris-based manager is offering clients of Italy’s largest private banking network access to private debt, private equity, real estate and special opportunities.

Tikehau Capital, the French alternative asset manager, has announced a €400 million fundraising for a vehicle that offers European private market solutions to high-net-worth clients of Fideuram-Intesa Sanpaolo Private Banking, Italy’s largest private banking network.

The fund’s multi-asset offering will invest across private debt, private equity, real estate and special opportunities to give HNW individuals diversified exposure to European private markets and the ability to “extract value across cycles”.

The fund becomes part of the fourth generation of the Fideuram Alternative Investments platform. Almost 3,000 Italian investors who are clients of Fideuram-Intesa Sanpaolo Private Banking networks have subscribed to the vehicle.

“The quality of our platform, combined with Tikehau Capital’s rigorous and diversified investment capabilities, enables us to offer a unique and differentiated investment solution to our private clients,” said Gianluca La Calce, chief executive of Fideuram Investimenti.

At the end of November, Tikehau announced its assets under management had grown by 11 percent in the first three quarters of the year driven, an increase driven primarily by private equity and real estate strategies. Its total AUM was €24.3 billion at the end of September, split between €22.2 billion for asset management and €2.1 billion for investment activities.

In February, Tikehau closed its €2.1 billion fourth-generation private debt fund and, in the summer, finalised its fifth CLO at €500 million.

HNW interest in private debt and other alternative assets has been growing in recent times. A recent survey by the UK’s Connection Capital found that 35 percent of its HNW clients were allocating 20 percent or more of their investment portfolio to alternatives – up from 26 percent a year previously.