French boutique Tikehau Capital has announced the completion of two share capital increases amounting to €510m.
The firm has first proceeded to a €94m capital increase through which it welcomed two new institutional investors as shareholders of Tikehau’s holding company, Tikehau Capital Advisors (TCA).
Singaporean investment firm Temasek and FFP, the listed family office of French car manufacturer Peugeot, along with French insurance group MACSF, will hold 5% of TCA, like Credit Mutuel Arkea and Amundi.
Founders, partners and senior management of Tikehau Capital have subscribed for €17m of the rights issued in order to maintain their current ownership and remain the controlling shareholders of the group.
In addition, Tikehau Capital Partners (TCP) completed a €416m capital increase through the conversion of €176m convertible bonds issued in 2015, as well as a rights issue raising an additional €240m in cash.
Tikehau said these transactions would help the group to pursue its organic and external growth, to develop its global strategy and to expand its international footprint.
Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital commented: “These two capital increases mark a major milestone in the development of Tikehau Capital, as they provide us with additional capacity to grow regardless of the current market turbulence and to compete with leading players in the asset management field.”
As of 1 July 2016, the group had assets under management of over €8bn.