Tikehau Capital has raised over €1bn through a continuation fund to back the next phase of growth for Egis, its global engineering and infrastructure portfolio company.

The transaction is anchored by a consortium comprising Apollo S3 and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), alongside co-lead investor Neuberger Berman.

This marks Tikehau’s first continuation fund and the fourth investment from the second vintage of its flagship private equity decarbonisation strategy. The fundraise has propelled total capital commitments for this strategy beyond €2bn, just one year after its initial close, surpassing its predecessor by 1.5x in size.

Originally acquiring control of Egis from Caisse des Dépôts in January 2022, Tikehau supported the company’s ambition to scale globally through strategic acquisitions. Since then, Egis has more than doubled its EBITDA, exceeded revenue targets, with revenues reaching €2.2bn in 2024, and outpaced its growth objectives ahead of schedule.

The newly raised capital will fuel Egis’ next expansion phase, including ambitions to double its size by 2028 and pursue further acquisitions, particularly in North America. The continuation vehicle also includes additional subscription commitments to support future capital increases, further strengthening Egis’ buy-and-build strategy. CDC remains a key shareholder.

Mathieu Badjeck and Pierre Abadie, Co-Heads of Tikehau’s Decarbonisation Strategy, and Emmanuel Laillier, Head of Private Equity, said: “Reinvesting in Egis through our second vintage is a natural step in our mission to back transformative companies driving the decarbonisation of the economy… We are thrilled to continue this partnership as Egis seeks to strengthen its position as a global leader.”

Egis CEO Laurent Germain and CFO Olivier Gouirand added, “This transaction reaffirms the relevance of our strategy and our ability to achieve our ambitions together with our 20,500 employees… With future investment commitments, Egis will be able to strengthen its capital base and pursue new strategic M&A opportunities, particularly in North America.”

The deal exemplifies Tikehau’s commitment to supporting businesses at the forefront of electrification, energy efficiency, and climate adaptation – cornerstones of its decarbonisation strategy.

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