Tikehau Capital (TKO) Q3 2024 TU earnings summary

Executive summary

• Assets under management (AuM) reached €47.1bn at 30 September 2024, up 12.4% year-over-year and 9.3% since December 2023, reflecting strong fundraising and resilient fundamentals.

• €3.9bn deployed and €1.3bn realized year-to-date, with robust transaction activity and disciplined asset selection.

• €4.8bn net new money raised in the first nine months, with acceleration in Private Equity fundraising in Q3.

• Sustainability-themed and impact AuM grew 39% year-over-year to €3.5bn, supporting climate and biodiversity goals.

• Strategic partnership with Nikko Asset Management advanced, enhancing global investment capabilities.

Financial highlights

• Asset Management AuM at €46.7bn, up 12.8% year-over-year and 9.2% since December 2023.

• Group AuM at €47.1bn, up 12.4% year-over-year.

• €1.4bn net new money raised in Q3 2024, totaling €4.8bn year-to-date.

• Investment portfolio stable at €4.0bn, with €543m invested and €324m exited in the first nine months.

Outlook and guidance

• Expects net inflows to grow by at least 10% in Q4 2024 compared to Q4 2023.

• Anticipates acceleration in revenue and profit generation for Asset Management in H2 2024.

• Confident in navigating current market conditions, supported by a robust fundraising and transaction pipeline.