Tikehau Capital, a pan-European asset manager, has tapped the U.S. Private Placement (USPP) market to raise $180 million in bonds as it expands into North America.
The proceeds will be used within Temasek-based Tikehau Capital’s sustainable framework, the company said in a press release Friday.
«This successful first issuance on the U.S. private placement market is a testament to Tikehau Capital’s attractiveness and credit quality. It is also a new step forward in the group’s ambition to reflect its sustainability commitments into its financing structure,» Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital, said in the statement.
«The group has been at the forefront of institutionalizing impact investing in the asset management industry, through dedicated funds across its asset classes as well as the integration of sustainability criteria for the vast majority of its debt,» they added.
Backed by Temasek
The asset manager is backed by Singapore state-owned investment company Temasek Holdings, which had a 4.1 percent interest as of end-2020, according to Tikehau Capital’s 2020 annual report. The asset manager had €34.3 billion in assets under management as of end-December.
Tikehau Capital recently made waves in Singapore as it sponsored the city-state’s second listed special purpose acquisition company (SPAC), called Pegasus Asia.
Size of USPP
The USPP is a private bond market based in the U.S.; it allows companies to raise capital without meeting the legal requirements of the public market, such as releasing financial statements.
Refinitiv data put the total amount of private placement debt in the U.S. at $739.04 billion in the second half of 2020.
