Tikehau Capital (TKO) AGM 2025 summary

Opening remarks and agenda

• AGM was chaired by Christian de Labriffe, with management, auditors, and board members present; agenda covered financial review, strategy, governance, and resolutions.

• The meeting was broadcast live and available for replay; tellers and secretary were appointed from major shareholders.

• Quorum reached 92.6%, allowing all resolutions to be ruled upon.

• Presentations included 2024 financial statements, statutory auditors' reports, draft resolutions, and Q&A.

• Agenda, draft resolutions, and supporting documents were made available to shareholders in advance.

Financial performance review

• Assets under management (AUM) surpassed $50 billion/€49bn, having grown fivefold since the 2017 IPO and at a 23% CAGR from 2016 to 2024.

• 2024 saw €9.3bn gross inflows, €7.0bn net inflows, and €5.6bn deployed across strategies.

• Net income before tax grew 9% in 2024 to €209.6m; operating profit from asset management reached $126 million.

• Management fees reached $337 million, up 8% from 2023, representing 96% of AM revenues; performance fees contributed €14 million.

• Core Fee-Related Earnings rose 7% to €132m, and total portfolio revenue increased 16%.

Board and executive committee updates

• Supervisory Board consists of 11 members, 50% independent, 40% women, with over 95% participation rate.

• Appointment of Pierre-Henri Flamand to the board, replacing Jean Charest, and renewal of terms for other members were proposed.

• Board committees (Audit & Risk, Governance & Sustainability) are 2/3 independent.