Tikehau Capital said it has raised €1.2bn for its “special opportunities strategy,” including the asset manager’s Luxembourg-domiciled Tikehau Special Opportunities III (TSO III) fund and side vehicles.

The firm said it surpassed “its initial target of €1bn” and raised “nearly doubl[e] the size of the previous vintage, which closed at €617m.” The fund, which is now closed to new subscriptions, targeted professional investors, the firm stated in a press release on 18 February 2025.

“We are particularly pleased with the diversity of our investor base, with commitments from insurance companies, pension funds, high-net-worth clients and other institutional partners across Europe and beyond,” Maxime Laurent-Bellue, co-head of credit at Tikehau Capital, said in the announcement.

“Launched in 2023, TSO III maintains a flexible investment mandate, providing corporate and asset-backed capital solutions across primary and secondary credit markets in Europe,” the firm said. “This opportunistic and multi-sector approach supports the fund to invest through various market cycles and macroeconomic environments.”

“To date, the fund has invested in 13 companies, deploying 55% of its capital through closed and secured investments and has already completed its first exit,” the firm stated.

The TSO III fund received an ESG label from the Luxembourg certification agency Luxflag .

Paris-headquartered Tikehau Capital employed an average of 214 staff at its Luxembourg office in 2023, the last year that figures were publicly available. It mainly focusses on credit, real assets, private equity and capital markets strategies, and had €47.1bn in assets under management, as of 30 September 2024.

Updated 19 February at 5:35pm to correct the currency from dollars to euros