Tikehau Capital has closed its second private debt secondaries fund above target, securing more than $1bn in LP equity commitments.

The vehicle, Tikehau Private Debt Secondaries II (TPDS II), exceeded its original $750m target and more than doubles the size of the firm’s inaugural vintage. Approximately 50% of committed capital has already been deployed, signalling immediate transaction flow in the market.

Private debt secondaries have emerged as a structural solution as the global private credit market matures. As portfolios season and fund durations extend, both LPs and GPs increasingly seek structured liquidity mechanisms. 

Tikehau’s strategy focuses on acquiring secondary interests across North America and Europe. The fund attracted a diversified investor base spanning institutional investors and family offices across Asia, Europe, North America, and South America.

“We are humbled by the trust our investors have placed in us. This successful raise reflects our track record and credit capabilities and affirms Tikehau Capital’s specialised and differentiated access to the private debt secondaries market,” said Pierpaolo Casamento, Head of Private Debt Secondaries at Tikehau Capital.

Tikehau Capital manages €51.1bn in assets as of September 30, 2025, across credit, real assets, private equity, capital markets strategies, and special opportunities.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.