Tikehau Capital has announced the final close of Tikehau Special Opportunities Fund II (TSO II) with total commitments of €617 million.
TSO II, which had an initial target of €500m, is the second vintage of Tikehau Capital’s Special Opportunities strategy and is more than four times larger than its predecessor.
Launched in late 2019, TSO II has a flexible investment mandate, providing corporate and asset-backed capital solutions across primary and secondary credit markets in Europe.
To date, TSO II has deployed more than 50% of its commitments through closed and secured investments, said Tikehau Capital.
”The pace of deployment increased substantially in 2020 following the onset of the Covid-19 pandemic. More recently, the Tactical Strategies team has pivoted its focus towards private situations across real estate and corporate credit, demonstrating the agility of the strategy. Typical investments range from rescue corporate and asset backed loans, to bespoke capital solutions to support the expansion plans of companies with limited access to traditional capital markets and financing solutions.”
“TSO II exceeded its fundraising target thanks to the support of existing and new LPs and partners, including insurance companies, pension funds and family offices across 16 countries. Our differentiated strategy is attractive to clients, and they value the expertise of our team and Tikehau Capital’s track-record of delivering strong risk-adjusted returns. We have a very strong pipeline of opportunities, and we will continue to focus on the fund’s deployment,” said Maxime Laurent-Bellue, Head of Tactical Strategies at Tikehau Capital.
“We will continue to follow the same disciplined patient and opportunistic strategy which is designed to help borrowers in Europe who are currently unable to access traditional funding solutions. Each situation is unique, and our priority is to provide bespoke, innovative and flexible capital solutions on a case-by-case basis to generate attractive risk-adjusted returns for our investors,” added Jean Odendall, Fund Manager of Tikehau Special Opportunities II.