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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tko Group Holdings Inc | NYSE:TKO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.65 | 0.62% | 105.35 | 105.98 | 104.52 | 105.25 | 519,197 | 01:00:00 |
Regulatory News:
Tikehau Capital (Paris:TKO):
Strong growth in Asset Management AuM1
€44.1bn
at 31 March 2024
+13%
YoY growth
Dynamic and selective deployment
€5.4bn
deployed over the LTM
Successful realizations momentum
€2.3bn
realized over the LTM
Robust level of AM net new money
€6.8bn
raised over the LTM
Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital, said:
“Today, we stand at the intersection of a rapidly evolving financial landscape and a transformative era marked by major disruptions and transitions. At Tikehau Capital, we anchor our investment approach in a deep understanding of these shifts, valuing both financial and non-financial criteria.
The global landscape has experienced significant volatility, from fluctuating rates and shifts in international trade balances to evolving monetary policies, escalating climate emergencies, and the central role of digital technology. As we look to the future, characterized by persistent inflation, stringent financing conditions, and tightening regulations, we see these challenges as opportunities. The end of an era of cheap money aligns perfectly with our strategic positioning in private markets, allowing us to leverage our expertise and adaptability to thrive in this environment.
With a compounding balance sheet, innovative strategies and an unwavering commitment to thorough fundamental analysis, we are well-equipped to navigate the challenges and opportunities ahead. Our entrepreneurial spirit and strong convictions position us to capture value and drive performance for all stakeholders.”
“Our entrepreneurial spirit and strong convictions position us to capture value and drive performance for all stakeholders.”
FUND DEPLOYMENT DRIVEN BY PRIVATE DEBT STRATEGIES
Building on its multi-local platform and its solid deal sourcing capabilities, Tikehau Capital’s closed-end funds deployed €0.9bn in the first quarter, mainly driven by the Group’s Yield strategies. This brings deployment over the last twelve months to €5.4bn. Discipline remained a core focus for the investment teams in a market which has not yet stabilized.
POSITIVE REALIZATIONS MOMENTUM
In the first quarter of 2024, realizations within Tikehau Capital’s closed-end funds amounted to €0.3bn, bringing realizations over the last twelve months to €2.3bn. In Q1, Private Debt strategies accounted for 56% of total exit, followed by Real Assets at 31% and Private Equity at 13%. The Group’s investment teams have remained actively engaged in enhancing operational performance across portfolio companies and assets, positioning themselves to capitalize on attractive exit opportunities.
ROBUST LEVEL OF NET NEW MONEY FOR A FIRST QUARTER
Leveraging its robust track record across asset classes and complementary investment strategies coupled with a multi-local and multi-channel platform, Tikehau Capital continued to successfully accommodate shifts in clients’ allocations.
Tikehau Capital attracted a record level of net new money for a first quarter, reaching €1.5bn (+23% compared to Q1 2023), bringing net new money over the last twelve months to €6.8bn. This illustrates Tikehau Capital’s ability to address clients’ evolving needs. Fundraising for the Group’s flagship strategies progressed well, reflecting client confidence and the Group’s strong market positioning.
Net new money for the first quarter was driven by the following developments:
− In addition, the Group successfully priced its European CLO X at an upsized amount of €425m, reflecting strong demand from approximately 30 investors across Europe, North America and the Middle East. This transaction attracted both existing and new investors and was well-received by the market. This achievement reaffirms Tikehau Capital’s established track record in managing and printing CLOs across market cycles;
AuM for Tikehau Capital’s Asset Management business amounted to €44.1bn at 31 March 2024, up 3% compared to 31 December 2023 and up 13% compared to a year ago.
Group AuM at 31 March 2024 reached €44.4bn, up 3% compared to 31 December 2023 and up 12% compared to a year ago.
A BALANCE SHEET COMPOUNDING FUTURE GROWTH
TIKEHAU CAPITAL ADVISORS REINFORCED ITS STAKE IN TIKEHAU CAPITAL
SHARE BUY-BACK
OUTLOOK
CALENDAR
6 May 2024
Annual General Meeting
30 July 2024
2024 half-year results (after market close)
Management presentation to be held via audiocast
22 October 2024
Q3 2024 announcement (after market close)
ABOUT TIKEHAU CAPITAL
Tikehau Capital is a global alternative asset management Group with €44.4 billion of assets under management (at 31 March 2024).
Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies.
Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives.
Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.2 billion of shareholders’ equity at 31 December 2023), the Group invests its own capital alongside its investor-clients within each of its strategies.
Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 778 employees (at 31 March 2024) across its 16 offices in Europe, Middle East, Asia and North America.
Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.
DISCLAIMER
This document does not constitute an offer of securities for sale or investment advisory services. It contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed.
Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.
APPENDIX
AuM at 31-03-2024
YoY change
QoQ change
In €m
Amount (€m)
Weight (%)
In %
In €m
In %
In €m
Private Debt
18,840
42%
+23%
+3,577
+4%
+647
Real Assets
13,377
30%
(5%)
(665)
(1%)
(87)
Capital Markets Strategies
5,074
11%
+18%
+788
+9%
+425
Private Equity
6,811
15%
+29%
+1,534
+5%
+303
Asset Management
44,103
99%
+13%
+5,233
+3%
+1,289
Investment activity
300
1%
(65%)
(560)
(12%)
(42)
Total AuM
44,403
100%
+12%
+4,673
+3%
+1,247
YTD evolution In €m
AuM at 31-12-2023
Net new money
Distributions
Market effects
Change in scope
AuM at 31-03-2024
Private Debt
18,193
+817
(127)
+108
(151)
18,840
Real Assets
13,464
+138
(206)
(19)
-
13,377
Capital Markets Strategies
4,649
+343
-
+82
-
5,074
Private Equity
6,508
+184
(163)
+241
+41
6,811
Total Asset Management
42,814
+1,482
(496)
+412
(110)
44,103
LTM evolution In €m
AuM at 31-03-2023
Net new money
Distributions
Market effects
Change in scope
AuM at 31-03-2024
Private Debt
15,263
+4,464
(892)
+155
(151)
18,840
Real Assets
14,042
+379
(658)
(386)
-
13,377
Capital Markets Strategies
4,286
+456
(2)
+365
(32)
5,074
Private Equity
5,278
+1,477
(548)
+564
+41
6,811
Total Asset Management
38,869
+6,777
(2,100)
+698
(142)
44,103
1Figures have been rounded for presentation purposes, which in some cases may result in rounding differences. 2 Amounts available for investment at the level of the funds managed by the Group. 3 Please refer to press release dated 27 July 2023. 4 Includes investments in funds managed by Tikehau Capital, co-investments alongside Tikehau Capital asset management strategies and SPAC sponsoring. 5 As at 25 March 2024. 6 As at 28 March 2024, taking into account the block trade purchase of 2 April 2024.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240423934042/en/
PRESS: Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30 UK – Prosek Partners: Philip Walters – +44 (0) 7773 331 589 USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238 press@tikehaucapital.com
SHAREHOLDER AND INVESTOR: Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 shareholders@tikehaucapital.com
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