Tikehau Capital Sca · EURONEXT:TKO
Tikehau Capital Sca — Tikehau Capital — Debt Investor Presentation (September 2023)
74 slides from Tikehau Capital Sca's debt investor presentation, September 2023
Slide 1: Investor Presentation September 2023
INVESTOR PRESENTATION SEPTEMBER 2023
Slide 2: Agenda
1. Introduction to Tikehau Capital Agenda 2. A large spectrum of expertise 3. Financial Performance 4. ESG & Bond Framework 5. Appendix
Slide 3: Introduction to Tikehau Capital
01 INTRODUCTION TO TIKEHAU CAPITAL TIKEHAU CAPITAL INVESTOR PRESENTATION 3
Slide 4: A growing global alternative asset manager
A growing global alternative asset manager TIKEHAU CAPITAL Founded in IPO in €41.1bn €3.1bn BBB- 15 742 2004 March 2017 of total AuM(1) of shareholders’ equity(1) S&P & Fitch countries employees(1) • Complementary • Strong equity base asset classes • Capital allocation priority: • Recurring and pred
Slide 5: Structural tailwinds for alternatives
Structural tailwinds for alternatives Alternative assets to represent 22% of global AuM by 2027… …but capturing 55% of global revenues Passive Management CAGR CAGR +5% $470bn +5% $128Tn CAGR CAGR $386bn 29 22% +6% $98Tn +6% 258 55% 20 21% $260bn 193 50% $65Tn 9 14% 103 40% $36Tn $133bn 4 11% 42 31%
Slide 6: A large spectrum of investment expertise
A large spectrum of investment expertise A COMPREHENSIVE OFFERING ACROSS ASSET CLASSES AND INVESTMENT VEHICLES INVESTMENT ACTIVITY €0.6bn CAPITAL MARKETS PRIVATE DEBT STRATEGIES €16.2bn €4.3bn • Direct Lending • Fixed Income • Corporate Lending • Equity Secondaries €41.1bn • • Leverage Loans PRIVATE
Slide 7: Synergetic and disciplined use of capital
Synergetic and disciplined use of capital Invest into Tikehau Capital’s funds and Align interests and capture 1 strategies fund performance Leverage our origination platform 2 Co-invest alongside our funds to compound portfolio returns Enhance market intelligence 3 Invest in the alternatives’ ecosys
Slide 8: A solid track record of profitable growth
A solid track record of profitable growth Asset under Management Revenue from Asset Management activity Management fee rate (€bn) (€m) (bps) +27% +41% 304 +22 97 2016-22 CAGR 2016-22 CAGR bps 75 39 (1) 2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022 H1 2023 (1) Fee-related earn
Slide 9: A very strong outlook
A very strong outlook Targets Improvement vs 2022 Scalability >€65bn x1.8 2026 AM AuM vs. €38bn of 2022 AM AuM Operating leverage >€250m 2026 FRE x2.6 vs. 2022 FRE Value creation Mid-teens vs. 10.2% Return on Equity by 2026 in 2022 TIKEHAU CAPITAL INVESTOR PRESENTATION 9
Slide 10: Accelerating growth in Asset Management
02 ACCELERATING GROWTH IN ASSET MANAGEMENT TIKEHAU CAPITAL INVESTOR PRESENTATION 10
Slide 11: Strong growth reflects successful execution
Strong growth reflects successful execution SELECTIVE DEPLOYMENT • High investment discipline • Strong & local sourcing capabilities DYNAMIC FUNDRAISING • High level of skin in the game • Asset class complementarity • Full integration of sustainability criteria • Innovation-driven mindset • Business
Slide 12: Step-up in deployment in line with the growth of the Group's AM platform
Step-up in deployment in line with the growth of the Group’s AM platform Multi-local platform in place Step-up in deployment in line with the platform’s expansion 97%(2) 98% 97% 98% 15 offices Selectivity rate(1) Selectivity rate (1)95% 6.9 H1 21-22 average (€2.6bn) €2.5bn 0.3 Industrial partners 0.
Slide 13: Robust realizations momentum
Robust realizations momentum +20% 1.8 • Healthy pace of realizations 1.5 €0.8bn • Realizations in Private Equity H1 21-22 mainly linked to the successful IPO PE average of EuroGroup Laminations (€0.7bn) RA • Continued disposal of mid-sized 0.8 and granular assets in Real Estate 0.6 PD • Private Debt
Slide 14: Solid performance across our funds
Solid performance across our funds Strong performance metrics Example of realizations since January 2023 Energy Transition Private Equity Secondaries Fund performance Gross Net Private Equity IRR IRR Direct Lending III 9.4% 7.0% Direct Lending IV 9.5% 7.1% 3.1x 55% 2.0x 21% Multiple IRR Multiple IRR
Slide 15: Granular and diversified exposure by sector & geography
Granular and diversified exposure by sector & geography AM AuM breakdown by sector AM Assets breakdown by geography RoW Other North America 1% 9% 8% Dry Powder Dry Powder UK 16% 4% 16% €40.5bn Continental Europe(1) €40.5bn of AM AuM at 30.06.23 of AM AuM at 30.06.23 Real Estate 28% Top 15 30% sector
Slide 16: High-quality portfolio of companies and assets
High-quality portfolio of companies and assets LTM REVENUE GROWTH LTM EBITDA GROWTH EBITDA MARGIN AVERAGE LEVERAGE PRIVATE DEBT(1) +14% +13% 19% 4.4x (2) PRIVATE EQUITY(3) +44% +22% 20% 3.9x AVERAGE RENT COLLECTION RATE AVERAGE OCCUPANCY RATE AVERAGE LTV REAL ESTATE(4) 95% ~90% 25% (1) Across Tikeha
Slide 17: Material acceleration in fundraising
Material acceleration in fundraising Asset Management Net New Money Record fundraising for a first-half €3.3bn €3.3bn CMS 6.4 6.4 PE H1 2021 H1 2022 Resilient fundraising €2.4bn €3.2bn despite a complex 2.1 RA environment 3.9 Relevant strategies 1.2 Strong track-record PD Multi-local footprint €bn 2
Slide 18: Continued increase in Fee-Paying AuM
Continued increase in Fee-Paying AuM SECURING LONG-TERM MANAGEMENT FEE GENERATION 40.5 35.6 +51% 4.4 €33.3bn +9% 29.4 2.9 of fee-generating AuM Fee-generating Non fee-paying at 30 June 2023 YoY growth Future fee-paying 3.6 33.3 + 9% Fundraising on strategies +51% 30.5 charging fees on capital Fee-pa
Slide 19: Continued expansion of our client base globally
Continued expansion of our client base globally AM AuM breakdown by investors nationalities at 30 June 2023 Most represented nationalities in AuM at 30 June 2023(2) 1% Office Opening Year Non-domestic investors €15.6bn 7% 10% 1 United States 2018 7% 2 Italy 2015 +16% 3 United Kingdom 2013 Non-domest
Slide 20: Strong progress in franchise internationalization
Strong progress in franchise internationalization MIDDLE EAST 15 offices c.€700m of AuM(2) from Israeli Insurers €200m multi-asset mandate from a major To date Emirati Sovereign Wealth Fund 2018 2017 2022 2019 2023 ASIA NORTH AMERICA Large South Korean (c.€550m AuM(2)) and Japanese (c.€300m AuM(2))
Slide 21: Financial Performance
03 FINANCIAL PERFORMANCE TIKEHAU CAPITAL INVESTOR PRESENTATION 21
Slide 22: Double-digit management fees growth
Double-digit management fees growth 160 122 144 +12% 156 +12% H1 2023 increase in line with Fee-Paying AuM growth Performance fees & Management fees YoY growth carried interest 139 97% Strong visibility in Management fees of H1 2023 AM revenues are fee generation 121 and others(1) management fees +1
Slide 23: 20% FRE growth year-over-year
20% FRE growth year-over-year 32.9% 29.2% 31.3% +20% FRE margin Adjusted FRE(2) margin 33.5% 33.5% 36.8% 294 FRE YoY growth 111 14 Strong increase in FRE generation 197 Adjusted FRE(2) over the LTM Expenses linked to 14 share-based payment 156 transactions(1) 121 57 99 6 107 9 Expenses linked to sha
Slide 24: Performance-related earnings, a material profit driver ahead
Performance-related earnings, a material profit driver ahead 18.2 +15% 15.8 12.5 12.2 12.0 +15% +3% AuM eligible to carried interest AuM eligible to carried interest, growth vs. H1 2022 currently invested and above hurdle rate growth yoy 7.1 7.1 7.4 3.9 Tikehau Capital’s approach to carried interest
Slide 25: Our investment portfolio is increasingly exposed to our asset management strategies
Our investment portfolio is increasingly exposed to our asset management strategies Investment portfolio mix (€m) 3,527 3,604 2,336 2,410 2,685 783 Ecosystem & direct investments 78% 2,083 79% 2,821 Tikehau Capital’s 1,565 (78%) strategies of investment portfolio exposed 79% to Tikehau Capital strat
Slide 26: Realized revenues represent >95% of portfolio revenues
Realized revenues represent >95% of portfolio revenues 298 275 • High basis of comparison in H1 2022 • Growing share of realized revenues coming from Tikehau Capital strategies Unrealized portfolio Strong contribution from Growth Equity and Energy Transition funds to unrealized revenues 104 • 129 re
Slide 27: Financial indebtedness and amortization plan
Financial indebtedness and amortization plan GROUP DEBT HIGHLIGHTS DIVERSIFIED FINANCING RESOURCES DEBT MATURITY PROFILE 54% International Bank Pool c.€2bn 4.2years 0.8 Total Debt(1) Average drawn maturity Of which c.€1.5bn drawn As of 30 June 2023 0.5 0.5 (3) (in €bn) and €0.5bn undrawn 0.3 48% 202
Slide 28: Consolidated balance sheet
Consolidated balance sheet €m FY 2022 H1 2023 Robust financial structure supporting the business model Investment portfolio 3,526 3,604 Cash & cash equivalents €3.1bn €1.1bn 65% 522 340 Other current & non-current assets 844 866 Total assets 4,893 4,810 Shareholders’ Equity, Short-term financial ESG
Slide 29: Tikehau Capital's Credit Strengths
Tikehau Capital’s Credit Strengths 1 Strong market dynamics favouring Alternative Asset Managers 2 A fast-growing player in the European market 3 Four business lines leading to a balanced business model 4 A diversified investor base with increasing international presence 5 A resilient and profitable
Slide 30: ESG & Bond Framework
04 ESG & BOND FRAMEWORK TIKEHAU CAPITAL INVESTOR PRESENTATION 30
Slide 31: Sustainability fully embedded within our business model
Sustainability fully embedded within our business model Sustainability at Tikehau Capital External recognition >60% 20% 65% of variable compensation linked to of Group’s debt linked to of AuM in SFDR Article 8 & 9 funds people & climate goals sustainability criteria H1 2023 c.40% Top 4% sustainabili
Slide 32: Creation of sustainable value
Creation of sustainable value OUR SUSTAINABILITY-THEMED & IMPACT PLATFORM: FIT TO ADDRESS TRANSITION & RESILIENCE • Energy efficiency solutions DECARBONISATION • Increase renewable energy supply • Expand low – carbon mobility • Rebuild soil organic matter and restore degraded soil biodiversity NATUR
Slide 33: Sustainable Bond Issuance
Sustainable Bond Issuance Framework Rationale Key Objectives incorporated Guidances Tikehau Capital intends to issue its second transaction Participate in the development of Sustainable Finance, as an early in Sustainable format as proof of its convictions in its mover in the alternative investments
Slide 34: Rigorous Sustainability by Design approach and impact framework
Rigorous Sustainability by Design approach and impact framework OUR SUSTAINABILITY BY DESIGN APPROACH Exclusion ESG Integration Engagement Exclude some risky sectors, behaviours and Incorporate ESG factors in financial Work with management and/or governance jurisdictions to protect value analysis to
Slide 35: Framework - Use of Proceeds
Framework - Use of Proceeds TIKEHAU CAPITAL’S SUSTAINABLE BOND FRAMEWORK ALLOWS THE GROUP TO INVEST THE PROCEEDS OF EACH BOND RAISED INTO ELIGIBLE ESG FUNDS AND SUSTAINABLE ASSETS CONTRIBUTING TO AT LEAST ONE OF THE GROUP’S PRIORITY SDGs Eligible ESG Funds Eligible Sustainable Assets Categories Fund
Slide 36: Framework - Evaluation & Selection
Framework - Evaluation & Selection SPECIFIC EXCLUSION CRITERIA AND PRINCIPAL ADVERSE IMPACTS FOR TH E SUSTAINABLE BOND FRAMEWORK Sectors with potentially significant negative impact to the Sectors with potentially significant negative impact to human health environment and biodiversity: or social co
Slide 37: Framework - Management of Proceeds & Reporting
Framework - Management of Proceeds & Reporting TIKEHAU CAPITAL HAS SET UP AN INTERNAL TRACKING SYSTEM TO FACILITATE THE ALLOCATION OF ELIGIBLE SUSTAINABLE INVESTMENTS AND IS COMMITTED TO ANNUAL REPORTING ON ITS SUSTAINABLE BONDS Management of Proceeds Reporting For each Sustainable Bond, Tikehau Cap
Slide 38: Framework - External Review
Framework - External Review TIKEHAU CAPITAL HAS ENGAGED ISS CORPORATE SOLUTIONS TO INDEPENDENTLY ASSESS THE SUSTAINABLE BOND FRAMEWORK REGARDING APPLICABLE GUIDANCE AND PRINCIPLES IN THE FORM OF A SECOND PARTY OPINION Alignment with best market practices and market standards (ICMA GBPS, SBPs and SBG
Slide 39: Tikehau Decarbonization Fund II - Eligible Fund Example
Tikehau Decarbonization Fund II - Eligible Fund Example Focus on solutions enabling deep transformation of business models Sustainable Bond category 2 Solution-based Business line Investment type Two-dimension investment thesis Low-carbon Efficiency Electrification Adaptation Opportunistic Launch da
Slide 40: Tikehau Direct Lending VI - Eligible Fund Example
Tikehau Direct Lending VI - Eligible Fund Example Sustainable Bond category ESG fund Support portfolio companies in their trajectory towards net zero and contribution to a low-carbon economy Business line Private debt Loans to medium sized Investment type enterprise Launch date H2 2023 Collect carbo
Slide 41: Transaction Overview
Transaction Overview Issuer Tikehau Capital SCA Issuer Rating BBB- with stable outlook (S&P and Fitch) Expected Rating of the Notes BBB- (S&P and Fitch) Nominal Amount €300-500m Maturity 2030 Issue Type Fixed Status of the Notes Senior Unsecured, Reg S Bearer Documentation Standalone / Make-Whole ca
Slide 42: Appendix
05 APPENDIX TIKEHAU CAPITAL INVESTOR PRESENTATION 42
Slide 43: Private Debt
Private Debt A GLOBAL LEADER IN TRADITIONAL PRIVATE DEBT AND A FIRST MOVER IN PRIVATE DEBT SECONDARIES AuM Targeted investment size Investment Team Inception Strong relationships €16.2bn(1) Between €10m and €300m 45+ (1) 2010(2) With Private Equity funds and banks Investment Team Leadership(1) Inves
Slide 44: Solid track record in European mid-market lending
Solid track record in European mid-market lending Breakdown of Private Debt AuM Secondaries • Leadership position in European mid-market lending allowing for selective (4%) deal sourcing • Attractive features and risk-adjusted returns thanks to floating rate instruments Direct Lending • Focus on dow
Slide 45: Solid performance track record in Private Debt (1/2)
Solid performance track record in Private Debt (1/2) Direct Lending: from emerging to flagship strategy Private Debt Secondaries: future flagship in the making Net IRR(1) 7.0% 7.1% 7.7% €3.3bn • Early mover within the private debt secondaries space €2.1bn illustrating our innovation capabilities • S
Slide 46: Solid performance track record in Private Debt (2/2)
Solid performance track record in Private Debt (2/2) Direct Lending: from emerging to flagship strategy Private Debt Secondaries: future flagship in the making €m Vintage III Vintage IV Vintage V €m 1st vintage Date of inception Dec. 2014 Jul. 2017 Oct. 2020 Date of inception Oct. 2020 Strategy size
Slide 47: Private Equity
Private Equity GROWTH EQUIT Y: GROWING AN EMERGING SEGMENT WITH POTENTIAL ATTRAC TIVE RETURNS AuM Targeted companies with revenues Investment Team Inception Support entrepreneurs with their €6.0bn(1) Between €20m and €500m 70+(2) 2012 growth Investment Team Leadership(1) Investment Universe Peter Ci
Slide 48: Our value-creating approach in Private Equity & Special Opportunities
Our value-creating approach in Private Equity & Special Opportunities Tikehau Capital Expertise • Disciplined investment on value-creating megatrends Others (2%) • Thematics approach with top-tier corporate partners • Conservative use of leverage Special Opportunities Aero & • Patient capital and ac
Slide 49: Tactical Strategies
Tactical Strategies CAPITALISING ON THE FIRM’S BROADER PLATFORM TO OFFER DIFFERENTIATED INVESTMENT SOLUTIONS Investment Geographies AuM Nimble deployment across Primarily Europe Transversal approach Flexible investment scope €1.7bn(1) economic cycles Secondarily US and Asia Investment Team Leadershi
Slide 50: Real Assets
Real Assets A COMPREHENSIVE REAL ASSETS PLATFORM DIVERSIFIED ACROSS CLIENT T YPES AND ASSET CLASSES AuM Targeted investment size Investment Team(1) Inception €14bn(1) Between €20m and €500m 23 in Real Estate(2), 12 in Infrastructure 2006 Investment Team Leadership(1) Investment Universe Frédéric Jar
Slide 51: Real Assets
Real Assets TIKEHAU CAPITAL EXPERTISE OUTLOOK Scale up European value-add and US Infrastructure strategies through successor Liquid funds & others 4 1 Closed-end funds funds 9% 29% Keep an active watch for club deals and co-investment opportunities €14.0bn 3 of AuM(2) Expand our listed REITs in Fran
Slide 52: A granular and diversified Real Assets platform
A granular and diversified Real Assets platform • Diversified platform composed of granular small-sized assets in prime locations • • High-quality long-term tenants Embedded hedge against inflation (rent indexation) >8,500 25% €2.2bn • Prudent and targeted investment approach, while taking advantage
Slide 53: Capital Markets Strategies
Capital Markets Strategies CONVICTION-BASED MANAGEMENT OF LISTED MARKETS AuM Investment Geographies Best in Class Primarily Europe Strong ESG Footprint €4.3bn(1) Track Record Secondarily US and Asia Investment Team Leadership(1) Investment Universe Raphaël Thuin Jean-Marc Delfieux Flexible Short Dur
Slide 54: Capital Markets Strategies
Capital Markets Strategies TIKEHAU CAPITAL EXPERTISE OUTLOOK Scale up existing Fixed Income and Flexible & Equity strategies Flexible & Equity (14%) Launch of impact and biodiversity-dedicated funds both for Fixed Income and Fixed Income Flexible & Equity (86%) €4.3bn of AuM(1) Enhance cross-selling
Slide 55: A key component of Tikehau Capital's platform
A key component of Tikehau Capital’s platform Strong aum growth since IPO Strong performance recognition Key benefits for Tikehau Capital +13% Public markets expertise valuable for the broad 2016-H1 23 CAGR Tikehau Capital’s platform 4.3 AuM at 30.06.23 Overall Rating Global addressable client base
Slide 56: Continued progress in the democratization of private markets
Continued progress in the democratization of private markets AM AuM breakdown by client type at 30 June 2023 Key partners Insurance Private banks Distribution Private investors companies platform €11.4bn 3% 10% 6% 28% 22% of AM AuM at 30 June 2023 €40.5bn AM AuM at 30 June 2023 26% Opale Capital’s l
Slide 57: Fundraising pipeline
Fundraising pipeline Emerging Scaling Established strategies strategies strategies Regenerative Agriculture fund Decarbonization II Cybersecurity IV Green Assets fund Special Opportunities III Value-Add Growth Equity III Value-Add Real Estate II Tikehau 2029 Private Debt Secondaries II Direct Lendin
Slide 58: An active and accretive M&A strategy
An active and accretive M&A strategy SUCCESSFUL INTEGRATION OF PAST ACQUISITIONS What we look for in an acquisition 2020 AuM at acquisition AuM at 30 Jun. 23 AuM CAGR International expansion €0.5bn €0.8bn +21% 2019 AuM at acquisition AuM at 30 Jun. 23 AuM CAGR Business mix rebalancing €0.05bn €0.4bn
Slide 59: Simplified consolidated P&L
Simplified consolidated P&L €m FY 2022 H1 2022 H1 2023 Management fees & other revenues 293.5 139.3 156.1 Operating costs (196.9) (98.6) (107.3) • +20% FRE YoY growth Fee-Related Earnings (FRE) 96.5 40.7 48.9 • Adjusted FRE (excl. linked to share-based payment transactions(1)) of FRE margin 32.9% 29
Slide 60: Healthy LTV and Gearing ratios
Healthy LTV and Gearing ratios LTV COVENANT/ < 47.5%(1) MINIMUM LIQUIDITY RATIO: > €150M(2) 3,500 3,139 3,144 2017 2018 2019 2020 2021 2022 3,040 3,000 2,797 2,499 2,500 2,274 43% 47% 2,000 32% 36% 35% 1,472 22% 1,432 1,292 13% 2% 20% 1,500 1,085 1,051 1,254 997 997 1,000 796 629 -29% -15% -1% 548 5
Slide 61: Strong alignment of interests
Strong alignment of interests 3,604 3,604 206 Other direct investments Ecosystem and direct 797 577 Ecosystem investments investments SPAC sponsoring (€14m) 129 Alongside Tikehau Capital’s Strategies 88 Capital Markets Strategies Fixed income & equity 718 Real Assets European Core / Core+ real estat
Slide 62: Ecosystem and direct investments serving our global platform
Ecosystem and direct investments serving our global platform 1 2 COMPLEMENT AND CONSOLIDATE GENERATE EXPERTISE ANCILLARY BUSINESS LatAm RoW US Europe UK €783m France €783m at 30 June 2023 4 3 LEGACY PRIVATE EQUITY DEVELOP LONG-TERM STRATEGIC INVESTMENTS RELATIONSHIPS1 2.4x Represents >70% of Average
Slide 63: Capital structure
Capital structure Share capital ownership 1 Including Tikehau Capital Advisors (56.2%), which owns 100% of Tikehau 4 Capital Commandité, the general partner of Tikehau Capital SCA (the listed Other shareholders company) and free float 20% 3 2 Shareholders which are also shareholders of Tikehau Capit
Slide 64: Strategic partnership with SFI
Strategic partnership with SFI A REINFORCED SHAREHOLDER BASE FOR TIKEHAU CAPITAL Strong addition to Tikehau Capital’s platform Illustrative simplified organisation chart (post-transaction)(1) SFI commits to invest €400m in Tikehau Capital Advisors (“TCA”), Tikehau Capital’s main shareholder Founders
Slide 65: Strong Corporate Governance
Strong Corporate Governance A highly independent and experienced Supervisory Board Capital Allocation Committee Board composition Board Committees ▪ Role: assist the Manager in its investment decisions and in 11 Audit & Risk Committee monitoring the financial performance Members, including 1 expecte
Slide 66: Pioneer in sustainability
Pioneer in sustainability Finalization of the initial Net Zero Asset Manager targets Signatory of the Net Zero Asset Manager Initiative €2.4bn of Climate & Biodiversity AUM at 30 June 2023 >60% of Group AUM in SFDR Article T2 €1bn closing 8 & 9 funds at 30 June 2023 of variable compensation A+ 20% A
Slide 67: External Benchmarking
External Benchmarking Products and services level Tikehau Capital Group level Signatory since 2014 ESG Disclosure Score 2021 : 46.8/100, above the sector average Excellent ratings in the 2021 assessment report : 4/5 for “Investment and Stewardship” (replacing the Strategy & Governance module) CDP Sc
Slide 68: Sustainable Development Governance – at Group level
Sustainable Development Governance – at Group level Sustainable development governance – at Group level Assists the Supervisory Board in: monitoring ESG and CSR issues to better understand and anticipate Supervisory board • Tikehau Capital the challenges, risks and opportunities associated with them
Slide 69: Sustainable Development Governance – at Investment level
Sustainable Development Governance – at Investment level Sustainable development governance at the level of investment opportunities Investments Investment activities of Tikehau • Advise the General Managers in its decisions of investments and Capital Allocation Committee All divestments Capital • O
Slide 70: Our impact platform: fit to address transition and resilience
Our impact platform: fit to address transition and resilience STRATEGIES Private Equity Private Debt Private Equity ADDRESSING Cybersecurity Impact Lending Growth Equity III RESILIENCE 2018-2021 2022 2023 CLIMATE & BIODIVERSITY Private Equity Capital Markets Private Equity Real Assets Private Equity
Slide 71: Experienced and Committed Leadership Team
Experienced and Committed Leadership Team CO-FOUNDERS GROUP MANAGEMENT Cécile CABANIS Thomas FRIEDBERGER Frédéric GIOVANSILI Group Deputy Chief Executive Officer Group Deputy Chief Executive Officer, Deputy Chief Executive Officer of Tikehau IM, Co-Chief Investment Officer, Head of Group Sales, Mark
Slide 72: Disclaimer
Disclaimer By viewing or receiving or reading this Presentation (as such term is defined herein) or attending any This Presentation contains forward looking statements about the Group and its subsidiaries. These meeting where this Presentation is made, you agree to be bound by the limitations, quali
Slide 73: Disclaimer
Disclaimer This Presentation includes certain pro forma financial information about the Group. This pro forma a revolving credit facility to be subsequently repaid with investor contributions. financial information has been prepared on the basis of historical financial statements of the Calculations
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Tikehau Capital — Debt Investor Presentation (September 2023) on 6ix