According to data for the first quarter of 2026, the alternative asset management platform Tikehau Capital reached approximately €53 billion in assets under management (AuM) as of 31 March 2026, representing 7% growth compared to the same period last year.
During the quarter, the group recorded €1 billion in net inflows into private markets strategies. Overall, including Capital Markets Strategies, net inflows stood at €700 million, due to outflows in liquid strategies.
Investment activity (deployment) amounted to €1 billion in the quarter, driven by Direct Lending and CLOs in Credit, Core/Core+ strategies in Real Estate, and Aerospace & Defense strategies in Private Equity. Meanwhile, disposals reached €400 million, mainly in Credit and Value-Add Real Estate strategies.
The investment portfolio stood at €3.9 billion as of 31 March 2026, compared to €4.4 billion as of 31 December 2025, mainly reflecting the divestment of Schroders, which generated €179 million in portfolio income during the quarter.
In Spain, the group participated in transactions through its global platform, including investment activity in Direct Lending and Private Equity, where the quarter was marked by the onboarding of new co-investors in EYSA, as well as disposals of real estate assets in the Iberian region.
In Credit, deployment was driven by Direct Lending, with geographical diversification across the Netherlands, the UK, Germany, Italy, Spain, and Belgium. The CLO platform saw the pricing of European CLO XV and US CLO VIII.
In Private Equity, additional inflows were recorded in Decarbonisation and Aerospace & Defense strategies, which reached €2.6 billion and €600 million in AuM respectively as of 31 March 2026. During the quarter, new co-investors were onboarded in EYSA.
In Real Assets, activity was primarily focused on Core/Core+ strategies, maintaining a disciplined approach to high-quality assets and prudent leverage.
The group held €7.5 billion in dry powder as of 31 March 2026, compared to €7.6 billion at year-end 2025.
During the quarter, Tikehau Capital raised €1 billion in private markets.
In Credit, the sixth generation of the Direct Lending strategy reached €4.9 billion in AuM as of 31 March 2026. CLO activity included the pricing of European CLO XV (approximately €400 million final size) and US CLO VIII ($405 million), generating approximately €400 million in net inflows during the quarter.
In Private Equity, additional inflows were recorded in Decarbonisation and Aerospace & Defense strategies.
In Real Assets, inflows mainly came from Core/Core+ strategies. In Capital Markets Strategies, net outflows of €315 million were recorded, mainly linked to fixed income strategies.
During the quarter, the portfolio recorded:
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