Tikehau Capital deployed €1bn (£867.4m) in the first quarter of 2026, driven by its direct lending and collateralised loan obligation (CLO) strategies, while net new money for the period also reached €1bn.
In its first-quarter results, the Paris-headquartered alternatives manager reported that assets under management (AUM) rose seven per cent year on year to €53bn in March 2026. Deployment totalled €6.9bn over the last 12 months, with realisations of €3.7bn and net new money of €7bn over the same period.
Tikehau said €743m of the €1bn deployed during the quarter came from private credit, driven by active deployment in European real estate debt and the pricing of European CLO XV and US CLO VIII.
The firm added that increased diversification across geographies, including the Netherlands, the UK, Germany, Italy, Spain and Belgium, also supported deployment.
Of the €1bn in net new money raised during the quarter, around €736m came from its credit strategies, the results reported.
Read more: Tikehau Capital prices €402m European CLO
Overall, the firm said its private credit performance remains “robust”, with an annualised default rate of 1.3 per cent as of 31 December 2025 for its direct lending strategies. It also noted that software accounts for nine per cent of total AUM and 12 per cent of credit AUM.
“In the first quarter of 2026, Tikehau Capital demonstrated its ability to generate value across market cycles,” said Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital. “Our flagship strategies continue to attract capital, and our portfolios are delivering solid underlying performance. Supported by a robust equity base, substantial dry powder and short-term resources, we are well-positioned to capture attractive opportunities across our markets.”
The first quarter results highlighted that an area of expansion for Tikehau is its real estate debt platform, which it said has launched in the US through a partnership with the Brodsky Organization. The firm has also launched Tikehau Amova Investment Management, a joint venture focused on Asia-based private assets strategies.
Tikehau said its investment portfolio stood at €3.9bn as of 31 March 2026, down from €4.4bn as of 31 December 2025, primarily reflecting the disposal of its Schroders stake in February 2026.
Read more: Private credit drives record realisations for Tikehau Capital
