Tikehau Capital closes its sixth European direct lending strategy at 5.2 billion euros
28 JUL, 2026
By Joanna Piwko from RankiaPro Europe
Tikehau Capital, a global alternative asset manager, has announced the definitive closure of the sixth generation of its European direct lending strategy for 5.2 billion euros (excluding leverage), which represents an increase of almost 60% compared to the previous generation.
This closure represents a new milestone for Tikehau Capital's Credit platform and reflects the continued confidence of its investor base in the group's investment approach in the European middle market.
A selective deployment with initial double-digit results
The fund's investment period began in March 2024. Since then, the strategy has already completed 30 transactions and made four divestments that have generated double-digit returns, demonstrating the platform's ability to deploy capital selectively and with favorable results.
As of today, the fund is deployed in 44% in European companies with consolidated business models and a strong competitive position, reflecting both the manager's disciplined origination capabilities and a highly selective subscription process. The portfolio has been built with a strong focus on diversification, with an average sector exposure of 10%. The initial entry leverage was limited to 4.0x net debt/EBITDA and currently stands at 3.5x, backed by the solid performance of the companies in the portfolio.
An international and diversified investor base
The fund has been backed by a broad and diversified institutional investor base, with the majority of commitments captured outside of Europe: 18% coming from North America and 28% from Asia and the Middle East.
Tikehau Capital continues to rely on its origination capabilities and its relationships with sponsors throughout Europe. Its private debt team, made up of 30 investment professionals, continues to actively pursue opportunities in the core segment of the European middle market, alongside top-tier private equity sponsors with whom the group has built strong relationships over successive generations of the vehicle.
With this latest generation, Tikehau Capital reaffirms its commitment to offering tailored financing solutions for high-quality European companies, maintaining a selective subscription approach and a focus on capital preservation and portfolio diversification.
