French financial group Tikehau Capital has completed its share capital increase with preferential subscription rights to existing shareholders announced on 30 June 2017.
Some €701.8m have been raised by the company after the issuance of 31,903,367 new shares at a price of 22 euros per share. Initially, Tikehau Capital targeted €610m of commitments for the right issue.
This share capital increase will support Tikehau Capital’s development as the firm has plans to reach assets under management of €20bn by 2020.
The company has announced further launch of new funds in three segments : private debt (in particular direct lending (Tikehau Direct Lending IV) and debt securitization (CLO III)), real estate and private equity.
In addition, it will consider opportunities for external growth “in several strategies in France and abroad”.
Through the operation, Tikehau Capital has welcomed AXA IM within its shareholding.
AXA IM is the only shareholder that has not agreed to a lock-up period of 180 calendar days for the shares subscribed through the rights issue.
Tikehau Capital has proceeded to two share capital increases last year for a total of €510m. Following the operation, Amundi held 5% of Tikehau.