PARIS--(BUSINESS WIRE)--Regulatory News:
Tikehau Capital (Paris:TKO), the alternative asset management and investment group, continues its active growth momentum in Asia across its Singapore, Seoul and newly-opened Tokyo offices.
In Singapore, with two regulated asset management companies and a team of 16 people, Tikehau Capital is pursuing its development in the city-state by partnering with City Developments Limited (CDL), a leading Singapore-listed real estate operating company, in IREIT Global Group Pte. Ltd., the manager of IREIT Global. IREIT Global is a Europe-focused real estate investment trust listed in Singapore in which Tikehau Capital invested in November of 2016.
CDL is a leading Singapore-listed real estate operating company with a global network spanning 103 locations in 29 countries and regions. Building on its proven track record of over 55 years in real estate development, investment and management in Singapore, CDL has developed its growth platforms in its key international markets of China, United Kingdom, Japan and Australia and is also developing a fund management business. CDL’s London-listed subsidiary, Millennium & Copthorne Hotels plc is one of the world’s largest hotel chains with over 135 hotels worldwide.
The entry of CDL as a new shareholder is a new positive step in the expansion of IREIT Global’s activities. It will provide the company with additional means for its development while leveraging the know-how and local knowledge of a major player in the Asian real estate sector in addition to the European outreach and expertise of Tikehau Capital. CDL purchased a 50.0% stake in IREIT Global’s manager and takes up 12.4% stake in IREIT Global. Upon completion of the transaction, Tikehau Capital’s ownership in IREIT Global Group and IREIT Global will be 50.0% and 16.4%, coming from 86.4% and 8.4% previously. This strategic partnership with CDL offers Tikehau Capital a stronger economic foothold in Asia.
In Seoul, the opening of a representative office in 2017, has enabled to develop solid relations with several large Korean financial institutions and institutional investors. This led to strengthening the local team to face the development of the office.
The opening of an office located in Tokyo aligns with the internationalisation strategy announced in connection with the listing of Tikehau Capital. Tikehau Capital is thus deploying its economic foothold approach to gain greater proximity to Japanese financial institutions who have a growing appetite for European private markets. The office will be led by Sergei Diakov, a senior professional with more than 10 years of experience in Japan.
Bruno de Pampelonne, Chairman of Tikehau Investment Management and Head of Asia stated: “Over the last five years, we have established and developed our network of relationships across Asia. This partnership in IREIT Global Group with CDL - as a well-established player with an excellent reputation amongst Asian investors, as CDL – allied, with the development of our Seoul and Tokyo offices, further strengthens Tikehau Capital’s footprint in the region.”
About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €22.0 bn of assets under management and shareholders’ equity of €2.3 bn (as at 31 December 2018). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 430 staff (as at 31 December 2018) in its Paris, London, Brussels, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
This document does not constitute an offer to sell securities or investment advice services. This document only contains general information and is not meant to represent general or specific investment advice. Past performances are not a reliable indicator of future results and targets are not guaranteed.
Certain declarations and projected data are based on current forecasts, current market conditions and the current economic situation, estimates, projections, and the opinions of Tikehau Capital and / or of its affiliated companies. Due to various risks and uncertainties, actual results may differ substantially from those reflected or envisaged in these forward-looking declarations or in any of the case-studies or forecasts. All references to the advisory activities of Tikehau Capital in the US or with regard to US citizens relate to Tikehau Capital North America.