Tikehau Capital has held a €2.1bn final close for its flagship Direct Lending V fund. It has raised a record €3.3bn including commitments to the bespoke mandates and side vehicles of the same generation.
The size of the fifth generation strategy is 57% bigger than the previous €2.1bn vintage, which the firm raised in 2019.
The firm said existing investors has increased their commitments to the new fund by 60%.
83% of capital commitments were received from LPs based outside of France, and 35% came from outside Europe.
TDL V aims to provide bespoke financing solutions to European SMEs including stretched senior, unitranche, mezzanine financing and PIK notes.
It has already invested in 55 companies in countries including Benelux, Spain, Italy, Germany, UK and France, as well as Canada.
Cécile Mayer-Lévi, head of private debt for Tikehau Capital, said, “The successful closing of TDL V is tribute to the work of Tikehau Capital’s experienced private debt team and its capacity to finance highly diversified operations in Europe. It also illustrates the support of new and existing LPs and partners globally with investors in the fourth vintage reinvesting in this latest generation.
“This is testament to Tikehau Capital’s disciplined investment approach and solid long-term track record. We have a very strong pipeline of opportunities and will continue to focus on deploying the fund’s capital to finance Europe’s leading SMEs.”
Tikehau, which manages more than €30bn of assets, brought in more than €1bn in February for a new fundraise focused on energy transition.
It hired Silverfleet Capital partner Ricardo Sommer as its head of private equity for Germany.
The firm was brought in by the Belgium government last year to manage the Belgian Recovery Fund.
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