Tikehau IM ended 2011 with over EUR700 million in assets under management, having raised in excess of EUR300 million across its entire product range (encompassing open and closed-end funds, co-investment vehicles and mandates).
Tikehau IM more than doubled assets under management in its open-ended funds and managed accounts, collecting over EUR150 million while the Credit Funds sector had record outflows of -18.1% (source: Europerformance).
The fund Tikehau Credit Plus has reached circa EUR70 million, tripling its balance. Tikehau Credit Plus mainly focuses on the high yield bond market..
The fund Tikehau Variable Rates (Tikehau Taux Variables), which strategically invests in short-duration bonds, also experienced a notable rise in its inflows.
The fund TSF – Tikehau Subordonnées Financières (focused on Subordinated Financial debt) was launched in February 2011 in anticipation of calls on subordinated bonds issued by banks or insurance companies following new regulations (Basel III, Solvency II). The fund outperformed its peers on this strategy.
Finally, the fund TK Rendement 2016, a target maturity fund launched last December, has already collected in nearly EUR8 million. The fund, which has an indicative target of 7% annual yield, is open to subscription until the end of February and has already recorded a performance of 3.03% at the end of January.
Tikehau IM also collected over EUR200 million in its closed-end funds focused on the private debt markets. Private debt opportunities, spanning from unirates to second lien loans and mezzanine financings have been on the rise given the structural changes faced by the leveraged and corporate debt markets in Europe. Tikehau IM has been active on a number of transactions across Europe in 2011 and plans to continue bolstering its presence in these markets through new initiatives.