Tikehau Capital
Tikehau Capital is a global alternative asset management group founded in 2004 and headquartered in Paris. It manages approximately €47 billion in assets across private debt, private equity, real assets, and capital markets strategies, with offices in Europe, Asia, and North America.
Tikehau Capital is a Paris buyout firm with €52.8B AUM, 71 active companies and 49 exits.
- ·34 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 48 realized deals: 6 years.
- ·Best return: 2.4x MOIC on Preligens (2024).
- ·Top sector focus: Aerospace & Defence (32% of portfolio).
- ·Fund cadence: ~2Y between vintages · last raise 2025.
Sector breakdown
120 companiesGeography breakdown
11 geographiesKey facts
Recent exits
Tikehau Capital sold Build38 to OneSpan in 2026 after 4 years.
Tikehau Capital sold Yogosha to Groupe Créative in 2026 after 5 years.
Tikehau Capital sold Aubert & Duval to Airbus, Safran in 2026 after 3 years.
Tikehau Capital sold Spherea to Andera Partners (continuation, majority) / Idico in 2026 after 2 years.
Coverage notes
13 funds tracked, 120 portfolio companies (71 active · 49 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Tikehau Capital has raised, with its portfolio companies. Hand-checked from public filings.
Tikehau PE Aerospace IIIAerospace & Defence2025€900M4 assetsAerospace & Defence2025 · 1yr€900M4–
Unrealized
4 held| Company | Entry |
|---|---|
| GMP Group Aerospace & Defence · France | 2025 |
| KEP Metal Logistics · France | 2025 |
| Scioteq Aerospace & Defence · Belgium | 2025 |
| TTSP HWP Group Business Services · Germany | 2025 |
Tikehau PE Decarbonisation ContinuationDecarbonisation2025€1.0B0 assets1 exitsDecarbonisation2025 · 1yr€1.0B01
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Egis Business Services · France | 2025 | 2025 | Continuation Vehicle | Apollo S3 / ADIA consortium and Neuberger Berman | – |
Tikehau Brienne IVCybersecurity2024€500M3 assetsCybersecurity2024 · 2yr€500M3–
Tikehau PE Decarbonisation IIDecarbonisation2023€2.1B7 assetsDecarbonisation2023 · 3yr€2.1B7–
Tikehau Regenerative AgricultureImpact2023€560M3 assetsImpact2023 · 3yr€560M3–
Unrealized
3 held| Company | Entry |
|---|---|
| BioFirst AgTech · Belgium | 2023 |
| Horizon Ag AgTech · US | 2025 |
| Juan Navarro Garcia Agriculture · Spain | 2025 |
Tikehau Brienne IIICybersecurity2022€400M4 assets2 exitsCybersecurity2022 · 4yr€400M42
Unrealized
4 held| Company | Entry |
|---|---|
| Chapsvision Software · France | 2022 |
| Provenrun Cybersecurity · France | 2023 |
| Trustpair Cybersecurity · France | 2022 |
| Vmray Cybersecurity · Germany | 2022 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Build38 Cybersecurity · Germany | 2022 | 2026 | Trade Sale | OneSpan | – |
| Hornetsecurity Cybersecurity · Germany | 2022 | 2025 | Secondary | Oktey (LBO) | – |
Tikehau Brienne IICybersecurity2021€200M3 assets1 exitsCybersecurity2021 · 5yr€200M31
Unrealized
3 held| Company | Entry |
|---|---|
| Glimps Cybersecurity · France | 2021 |
| jscrambler Cybersecurity · Portugal | 2021 |
| Unique Héritage Media Business Services · France | 2021 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Yogosha Cybersecurity · France | 2021 | 2026 | Trade Sale | Groupe Créative | – |
Tikehau PE Aerospace II (T5)Aerospace & Defence2020€750M9 assets5 exitsAerospace & Defence2020 · 6yr€750M95
Unrealized
9 held| Company | Entry |
|---|---|
| Aries Industries Aerospace & Defence · France | 2020 |
| BT2i Aerospace & Defence · France | 2022 |
| Crouzet Aerospace & Defence · France | 2022 |
| Elvia PCB Aerospace & Defence · France | 2022 |
| Figeac Aero Aerospace & Defence · France | 2022 |
| Jogam Aerospace & Defence · France | 2023 |
| Mecachrome Aerospace & Defence · France | 2020 |
| PMA (Precision Manufacturing Aerospace) Aerospace & Defence · Spain | 2022 |
| Secan Construction · France | 2023 |
Realized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Aubert & Duval Aerospace & Defence · France | 2023 | 2026 | Trade Sale | Airbus, Safran | – |
| Brown Europe Aerospace & Defence · France | 2021 | 2024 | Trade Sale | STS Metals (Tinicum) | – |
| LMB Aerospace & Defence · France | 2022 | 2025 | Trade Sale | Loar Group | – |
| Spherea Aerospace & Defence · France | 2024 | 2026 | Continuation Vehicle | Andera Partners (continuation, majority) / Idico | – |
| Visco Aerospace & Defence · France | 2022 | 2024 | Secondary | Latour Capital | – |
Tikehau Brienne ICybersecurity2019€175M5 assets2 exitsCybersecurity2019 · 7yr€175M52
Unrealized
5 held| Company | Entry |
|---|---|
| EclecticIQ Software · Netherlands | 2020 |
| Egerie Cybersecurity · France | 2019 |
| Quarkslab Cybersecurity · France | 2020 |
| Tehtris Cybersecurity · France | 2020 |
| TrustInSoft Software · France | 2019 |
Tikehau PE Decarbonisation IDecarbonisation2019€800M8 assets3 exitsDecarbonisation2019 · 7yr€800M83
Unrealized
8 held| Company | Entry |
|---|---|
| Amarenco ClimateTech · Ireland | 2020 |
| Cetih Construction · France | 2021 |
| Cool Planet Group Energy · Ireland | 2020 |
| EuroGroup Laminations Energy · Italy | 2020 |
| GreenYellow ClimateTech · France | 2018 |
| Isotrol ClimateTech · Spain | 2022 |
| Sterne Logistics · France | 2021 |
| Valgo Industrials · France | 2021 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Egis Business Services · France | 2022 | 2025 | Continuation Vehicle | Continuation fund (Apollo S3 / ADIA / Neuberger Berman) | – |
| Enso Software · Spain | 2020 | 2024 | Secondary | Igneo Infrastructure Partners | – |
| Groupe Rougnon Construction · France | 2019 | 2022 | – | – | – |
Tikehau Growth PartnershipsGrowth2014€500M10 assets9 exitsGrowth2014 · 12yr€500M109
Unrealized
10 held| Company | Entry |
|---|---|
| Carbonex Energy · France | 2018 |
| Credit.fr Fintech · France | 2017 |
| DoveVivo/Joivy Business Services · Italy | 2019 |
| Ecopol Industrials · Italy | 2021 |
| Ekimetrics Business Services · France | 2020 |
| Medtrade/Celox Medical MedTech · UK | 2019 |
| MINT Software · Italy | 2021 |
| Oodrive Software · France | 2017 |
| Oryx PropTech · France | 2022 |
| PTSL Business Services · UK | 2022 |
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| ADDEV Materials Business Services · France | 2019 | 2025 | Secondary | Naxicap Partners | – |
| Assiteca Financials · Italy | 2019 | 2022 | Trade Sale | Howden Group Holdings | – |
| Asten Sante Healthcare · France | 2014 | 2018 | Trade Sale | La Poste Silver | – |
| Ateliers de France Construction · France | 2017 | 2023 | Secondary | Management buyout (founders, Bpifrance Large Cap, North American investor) | – |
| DRT Agriculture · France | 2014 | 2020 | Trade Sale | Firmenich | – |
| Filiassur Financials · France | 2018 | 2025 | MBO | Denis Bizien (founder) | – |
| Linkfluence Data & Analytics · France | 2018 | 2021 | Trade Sale | Meltwater | – |
| Total Eren ClimateTech · France | 2015 | 2023 | Trade Sale | TotalEnergies | – |
| Verona Group Business Services · France | 2015 | 2025 | – | – | – |
Tikehau PE Aerospace IAerospace & Defence2013€200M5 assets25 exitsAerospace & Defence2013 · 13yr€200M525
Unrealized
5 heldRealized
25 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| 3DTrust Cybersecurity · France | 2016 | 2021 | Trade Sale | Bassetti Group | – |
| ADF Business Services · France | 2016 | 2018 | MBO | Management and Abenex | – |
| Aeds Groupe Aerospace & Defence · France | 2014 | 2019 | Trade Sale | Rafaut | – |
| Agora Industries Healthcare · France | 2011 | 2012 | – | – | – |
| Arelis Aerospace & Defence · France | 2012 | 2021 | Trade Sale | Groupe LGM | – |
| Aries Alliance Aerospace & Defence · France | 2016 | 2018 | Secondary | Astorg | – |
| ATG / Sotip Aerospace & Defence · France | 2012 | 2023 | Trade Sale | Nexteam | – |
| Bio UV Aerospace & Defence · France | 2014 | 2020 | – | – | – |
| Ceruse Aerospace & Defence · France | 2016 | 2025 | Trade Sale | Carlesimo Groupe | – |
| Cooltech Applications Aerospace & Defence · France | 2013 | 2019 | – | – | – |
| Daher Logistics · France | 2009 | 2017 | Secondary | Daher family | – |
| Fermentalg Biotech · France | 2010 | 2020 | – | – | – |
| Groupe LPF Aerospace & Defence · France | 2011 | 2025 | – | – | – |
| Guimbal Aerospace & Defence · France | 2009 | 2017 | – | – | – |
| Kalray Deep Tech · France | 2008 | 2020 | – | – | – |
| Loiretech Aerospace & Defence · France | 2015 | 2023 | – | – | – |
| Meloche Aerospace & Defence · Canada | 2011 | 2017 | – | – | – |
| Muquans Aerospace & Defence · France | 2014 | 2021 | Trade Sale | iXblue | – |
| New Imaging Technologies Aerospace & Defence · France | 2010 | 2021 | – | – | – |
| Nexteam Aerospace & Defence · France | 2013 | 2026 | Secondary | EMZ Partners, Bpifrance and Amundi Private Equity Funds | – |
| Ocea Aerospace & Defence · France | 2013 | 2021 | – | – | – |
| RB3D Aerospace & Defence · France | 2013 | 2022 | – | – | – |
| Seafin (Neotek-RTSys) Aerospace & Defence · France | 2012 | 2021 | Secondary | Sea Vorian | – |
| Socomore Aerospace & Defence · France | 2013 | 2025 | Secondary | Three Hills | – |
| Spring Technologies Software · France | 2014 | 2018 | Trade Sale | Hexagon AB | – |
Tikehau PE Balance SheetBalance Sheet2006€2.0B10 assets1 exitsBalance Sheet2006 · 20yr€2.0B101
Unrealized
10 held| Company | Entry |
|---|---|
| Angelmar Logistics · France | 2011 |
| Brut. TMT · France | 2021 |
| Claranet Diversified · UK | 2017 |
| Duqueine Healthcare · France | 2007 |
| Fonciere Atland Real Estate · France | 2006 |
| Nafilyan Real Estate · France | – |
| Navec Diversified · Spain | – |
| OSS Ventures Software · France | 2020 |
| Spie Batignolles Construction · France | 2012 |
| Univision TMT · Spain | 2021 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| HDL/Assystem Diversified · France | 2013 | 2020 | – | – | – |
About Tikehau Capital
Tikehau Capital is a French listed global alternative asset management group founded in 2004 and headquartered in Paris, with €47.0 billion of assets under management as of December 2024. The firm operates as a partnership-led platform with majority insider ownership and is listed on Euronext Paris. Tikehau combines private equity, private debt, real assets and capital markets strategies, with offices across Europe, North America, Asia-Pacific and the Middle East serving institutional limited partners globally.
Investment thesis
Tikehau invests across the alternative spectrum with thematic focus on the energy transition, cybersecurity, aerospace and defence, healthcare and business services. Private equity flagship funds target European mid-market buyouts and growth equity, while private debt and capital markets strategies provide complementary financing solutions to mid-cap corporates. The firm emphasises alignment of interests through significant balance-sheet co-investment alongside third-party institutional capital, supporting longer-duration value creation across its 13 tracked funds.
Recent activity
Recent exits include Build38 (cybersecurity, 2026), Spherea (aerospace and defence, 2026), EuroGroup Laminations (energy, 2026 partial listing) and Hornetsecurity (cybersecurity, 2025). Tikehau remains actively deployed across its current vintages while pursuing platform expansion in the energy transition vertical, where dedicated strategy funds have been launched to capture decarbonisation-driven mid-market opportunities across Europe.
Portfolio platforms backed by Tikehau Capital made 10 researched add-on acquisitions during its ownership.
Frequently asked questions
- What investment strategy does Tikehau Capital focus on?
- Tikehau Capital focuses on Buyout, Growth strategies in the private equity space.
- How many portfolio companies does Tikehau Capital have?
- Tikehau Capital has 71 active portfolio companies and 49 completed exits and 13 funds tracked on GP Intel.
- Where is Tikehau Capital headquartered?
- Tikehau Capital is headquartered in Paris, France.
- What is Tikehau Capital's assets under management?
- Tikehau Capital manages approximately €52.8B in assets under management.
- When was Tikehau Capital founded?
- Tikehau Capital was founded in 2004.
- What sectors does Tikehau Capital invest in?
- Tikehau Capital invests across TMT, Industrials, Healthcare, Consumer, Business Services, Energy, Financials.
- What are Tikehau Capital's recent exits?
- Recent realized exits by Tikehau Capital include: Build38 (2026) to OneSpan; Yogosha (2026) to Groupe Créative; Aubert & Duval (2026) to Airbus, Safran; Spherea (2026) to Andera Partners (continuation, majority) / Idico; Nexteam (2026) to EMZ Partners, Bpifrance and Amundi Private Equity Funds; Egis (2025) to Apollo S3 / ADIA consortium and Neuberger Berman; Hornetsecurity (2025) to Oktey (LBO); LMB (2025) to Loar Group.
Similar firms
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