Tikehau Capital has partnered with Société Générale Assurances, CNP Assurances, and the CARAC Group to launch a €150m private equity fund focused on European defence, aerospace, and cybersecurity.

The fund – named Tikehau Défense et Sécurité – marks a first in the French market as a non-listed vehicle eligible for unit-linked life insurance and retirement savings products.

Set to go live in September 2025, the Article 8 fund will initially be distributed exclusively through the three partner insurers for a one-year period. It will later become available to other institutional investors. Each insurer has committed an equal share to the €150m fund, which is aimed at supporting Europe’s strategic autonomy and technological sovereignty in key sectors.

The fund will invest primarily in European companies operating in dual-use industries—those serving both civilian and military purposes—through primary, secondary, and co-investment strategies, as well as selective exposure to private debt. It will be structured as a long-term “evergreen” vehicle under the ELTIF 2.0 framework, with liquidity windows every 15 days.

Backed by the French Ministry of Defence and the Armament Procurement Agency, the initiative reflects strong institutional support for directing private capital into national security and industrial resilience. Tikehau Capital’s dedicated team of 30 professionals has already built a portfolio of over 30 defence and cybersecurity assets since 2021, previously reserved for institutional backers.

“This is a natural next step in our mission to democratise access to private assets,” said Henri Marcoux, Deputy CEO of Tikehau Capital. “By launching a private equity fund rooted in national and European strategic priorities, we’re enabling retail investors to participate directly in financing the sectors that underpin our sovereignty.”

Executives from the partner insurers echoed the alignment of interest between performance-driven investment and national security. Michel Andignac of CARAC, Philippe Perret of Société Générale Assurances, and François Guilgot of CNP Assurances all underscored the unique opportunity for individual policyholders to access a diversified private equity strategy tied to Europe’s defence future.

Tikehau Capital currently manages €50.6bn in assets across credit, real assets, private equity, and capital markets strategies. This latest initiative cements its position as a pioneer in making institutional-grade alternative assets accessible to retail investors.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com. 

Can`t stop reading? Read more.