Tikehau Capital secured €1.2bn for the third iteration of its special opportunities strategy, encompassing the final close of its flagship fund, Tikehau Special Opportunities III (TSO III), as well as tailored mandates and dedicated co-investment vehicles.

Launched in 2023, TSO III employs a flexible investment mandate, providing corporate capital and asset-backed solutions across Europe’s primary and secondary credit markets. Its opportunistic and multi-sector approach allows it to navigate different economic cycles while identifying high-return opportunities.

The fund, managed by a 14-member specialist team, benefits from Tikehau Capital’s extensive platform across credit, private equity, real estate, and capital markets. To date, it has deployed 55% of its capital across 13 companies and has already completed its first exit.

Tikehau Capital stated that the fund’s performance has exceeded both gross and net expectations, citing a diversified and resilient portfolio that offers strong downside protection. Investors include pension funds, insurers, family offices, and sovereign wealth funds, with significant contributions from the Middle East.

“Our growing presence in the Middle East has played a crucial role in expanding our investor base,” said Jean Odendall, Tikehau’s co-director of tactical strategies and head of the Middle East.