Tikehau Capital, the global alternative asset management group, has announced the final close of Tikehau Special Opportunities Fund II (TSO II) with total commitments of €617 mln.
TSO II, which had an initial target of €500 mln, 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 to date deployed more than 50% of its commitments through closed and secured investments. The pace of deployment increased substantially in 2020 following the onset of the Covid-19 pandemic.
More recently, it has pivoted towards private situations across real estate and corporate credit. Typical investments range from rescue loans to corporate liquidity financings, to bespoke capital solutions to support the expansion plans of companies with limited access to traditional capital markets and financing solutions.
Maxime Laurent-Bellue, head of tactical strategies at Tikehau Capital, said: 'TSO II exceeded its fundraising target thanks to the support of existing and new LPs and partners, including the insurance companies, pension funds and family offices across 16 countries.
'Our differential 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.'
Jean Odendall, fund manager of Tikehau Special Opportunities II, added: 'We will continue to follow the same disciplines 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.'
