Italian institutional investors gave a warm welcome to last Tikehau Capital‘s direct lending fund (TCP TDL III) (see here the press release) as they committed 80 million euros out of a total of 610 millions raised, MF Milano Finanza writes today, stressing tha major commitement had been given by 5 Italian insurance companies with Eurovita and Sara Assicurazioni among them.
The new fund has been active since March 2015 and about 60% of the fund is already invested through 18 portfolio companies allo ver Europe.
Tikehau just opened an office in Milan one year ago with a team of 5 professionals led by Luca Bucelli who is supported by former BCG senior partner Ignazio Rocco di Torrepadula as TCP’s advisor (see here a previous post by BeBeez).
Tikehau closed two investments in Italy so far. A first one has been already divested as last July the French asset management company was reimbursed of the unitranche financing it had issued in October 2014 together with Emosys Capital sgr to GF spa in order to support a management buyout deal financed by LBO Italia Investimenti srl (see here a previous post by BeBeez).
A second investment was closed last March in the real estate sector and consisted in the acquisition of a shopping center based in the Mapei Stadium in Reggio Emilia. The seller was CBRE and the acquisition was made through the Tikehau Italian Retail Fund I.
Founded in 2004, Tikehau invests both third parties capital committed to funds managed by TCP (about 7.5 billion euros in AUM) and its own capital(about 1.5 billion euros).
Tikehau’s shareholders are Tikehau’s partners (Unicredit’s ceo Jean Pierre Mustier is no more among them and sold its stake in TCP’s capital just after it was appointed in the new role in the bank) and institutional investors: Amundi, Crédit Mutuel Arkéa, Unicredit as well as Temasek and the Peugeot family office, with these latter two that had joined TCP’s capital last July (see here the press release).
