Tikehau Capital: Successful Completion of Selectirente’s Capital Increase

PARIS--()--Regulatory News:

Tikehau Capital (Paris:TKO), the alternative asset management and investment firm, today announced the successful completion of its listed subsidiary Selectirente’s capital increase,1 for a total of €217 million, also announcing that it now holds a 50.1% stake in the company.2

The success of this transaction confirms Selectirente’s attractive position in the real estate market, and provides the company with additional resources to finance its growth.

Selectirente is a listed real estate investment company specialised in commercial leasehold property in city centres and peripheral areas. Founded in 1997, Selectirente mainly invests in commercial property assets leased to retail tenants operating stores or boutiques, with a long-term target of generating secure rental income while optimising yields for the assets held in its portfolio. Since its inception, Selectirente has relied on the expertise of Sofidy (a subsidiary of Tikehau Capital), to which it has delegated full management of its portfolio.

Selectirente implements an ambitious development strategy with the support of Tikehau Capital, as previously announced during the public tender offer for shares and OCEANE announced by Tikehau Capital at the end of 2018. In a rapidly changing retail market, the proceeds from this capital increase will finance Selectirente’s growth strategy, which is organised along two main lines: continuing its focus on ground-floor retail premises in residential buildings, drawing on its strong track record in this area, while pursuing a second, more opportunistic, approach centred on the process of metropolisation.

Tikehau Capital took part in this capital increase with an investment of €97million, raising its stake in Selectirente to 50.1%2 (and 52.07% in concert3) thereby strengthening its expertise in a buoyant market segment, while maintaining Selectirente SIIC status.

About Tikehau Capital:

Tikehau Capital is an asset management and investment group with €24.3bn of assets under management (as at 30 September 2019) and shareholders’ equity of €3.1bn (as at 30 June 2019). 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 500 staff (as at 30 September 2019) in its Paris, London, Amsterdam, Brussels, Luxembourg, 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)

www.tikehaucapital.com

Disclaimer:

This press release is not intended for publication, dissemination, transmission or distribution directly or indirectly to or within the United States of America, Canada, Australia, Japan or any other country in which the publication, dissemination, transmission or distribution of this press release is unlawful.

This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.

Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.

1 Cash capital increase without preferential subscription rights and with a priority period for existing shareholders to apply for new shares, launched on 4 December 2019.
2 Of which, 37.5% held by Tikehau Capital SCA and 12.6% held by Sofidy.
3 See Selectirente’s press release dated December 16, 2019 (https://www.selectirente.com/augmentation-de-capital/)

Contacts

Press:
Tikehau Capital: Julien Sanson – +44 20 3821 1001
Finsbury: Arnaud Salla & Charles O’Brien – +44 207 251 3801
press@tikehaucapital.com

Shareholders and Investors:
Louis Igonet - +33 1 40 06 11 11
shareholders@tikehaucapital.com

Contacts

Press:
Tikehau Capital: Julien Sanson – +44 20 3821 1001
Finsbury: Arnaud Salla & Charles O’Brien – +44 207 251 3801
press@tikehaucapital.com

Shareholders and Investors:
Louis Igonet - +33 1 40 06 11 11
shareholders@tikehaucapital.com