French asset management group Tikehau Capital has reported €13.8bn of assets under management as of 31 December 2017, exceeding the target set of €13bn.
AUM are up 9.6% quarter-on-quarter and up 38.2% compared to end December 2016. The €3.8bn rise in AUM over the full year 2017 was primarily driven by net inflows of €3.9bn and the impact of capital gains and distributions more or less offsetting at +€0.4bn and -€0.5bn, respectively.
As of 31 December 2017, private debt accounted for 43.3% (€6bn) of Tikehau’s total assets, the firm’s strategies on this asset class have recorded €1.5m of net inflows throughout 2017 but were hit by a negative distribution impact of – €0.5bn.
Liquid strategies represented 22.5% (€3.1bn) of the company’s assets, with €1.1bn net new money reported over 2017, mainly in fixed income fund Tikehau Taux Variables.
Real estate and private equity accounted for 16.3% and 17.9% of Tikehau’s AUM respectively at the end of last year. The former asset class recorded €0.4bn of net inflows while net new cash for the latter amounted to €0.9bn.
Tikehau Capital has renewed its objective to reach €20bn of AUM by 2020. The firm announced the opening of a New York office as part of its internationalisation strategy outlined at the time of its listing on Euronext Paris on 7 March 2017.
“Given the size of the local market, North America is a natural growth region and a local presence will enable the group to establish closer ties with prospective clients and to capture the best investment opportunities,” Tikehau Capital stated.
Last year, the group opened two new locations in 2017: a branch in Madrid, Spain, and a representative office in Seoul, South Korea. It is also developing client-investors base in Western Europe and has clients in Asia.