Tikehau Capital Sca · EURONEXT:TKO
Tikehau Capital Sca — Tikehau Capital — Investor Presentation (June 2024)
77 slides from Tikehau Capital Sca's investor presentation, June 2024
Slide 1: Investor Presentation June 2024
INVESTOR PRESENTATION JUNE 2024
Slide 2: Agenda
1. Introduction to Tikehau Capital 2. A large spectrum of expertise Agenda 3. Accelerating growth in Asset Management 4. Granular & Synergetic Investment Portfolio 5. Financials 6. Outlook 7. 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 €44.4bn €3.2bn 16 778 2004 March 2017 of total AuM(1) of shareholders’ equity(2) offices(1) employees(1) • Complementary • Strong equity base asset classes • Capital allocation priority: • Recurring and predictable ASSET in
Slide 5: Tikehau Capital's key differentiators
Tikehau Capital’s key differentiators A fast-growing global alternative asset manager using its strong balance sheet as a compounder of future growth Complementary and relevant investment Robust balance sheet allowing for Strong alignment of interests at the heart strategies offering compelling risk
Slide 6: A significant growth journey
A significant growth journey 2016-2024(1) CAGR 2016 2024(1) €44.4bn +23% x4 (4) # Investment professionals 57 248 +15% x4.4 +79% in 7 years +32% # Sales professionals 8 102 x13 Group AuM €10bn AuM from +20% non-domestic investors(3) (€bn) 2 17 x9 5 offices 17 offices(4) 31/12/2016 31/03/2024 Private
Slide 7: A solid track record of profitable growth
A solid track record of profitable growth AM revenues Core Fee-Related Earnings(2) Shareholder returns (1) +34% (1) +73% 123 312 0.40 0.75 0.50 39% FRE 7% margin 0.70 39 0.60 3 €m €m 0.50 0.50 0.50 2016 2023 2016 2023 0.25 Management fee rate Shareholders’ Equity 2017 2018 2019 2020 2021 2022 2023 (
Slide 8: Our balance sheet acts as a strong growth compounder
Our balance sheet acts as a strong growth compounder Balance-sheet compounding effect Asset Management Investment portfolio Scalability & operating leverage Tikehau Capital’s Funds performance Direct & ecosystem investment performance Mid-teens Target Return on Equity by 2026 Fee-related Performance
Slide 9: Structural tailwinds for alternatives
Structural tailwinds for alternatives Alternative assets to represent 23% of global AuM by 2028… …but capturing 57% of global revenues Passive Management CAGR CAGR $167tn $597bn +7% +7% 23% CAGR $421bn 38 343 $119tn CAGR +6% 57% +7% 24 20% 227 $269bn 54% $69tn 14% 108 40% 10 $37tn $138bn 4 12% 44 32
Slide 10: An increasingly global platform
An increasingly global platform 12% of FTEs in 26% of FTEs in 17 North America Europe(1) & Middle East Offices globally(2) Amsterdam 9% of FTEs in Asia Montreal London Luxembourg 48 New York Brussels Frankfurt Nationalities Seoul Tel Aviv Tokyo Milan Madrid 47% Zurich Abu Dhabi Hong Kong of AM profe
Slide 11: A strong outlook
A strong outlook Our growth playbook 2024 Action Mid-term targets Expand flagship strategies ✓ Scalability >€65bn 2026 AM AuM Operating leverage >€250m Scale up innovation ✓ 2026 FRE Mid-teens Return on Equity by 2026, driven by Enhance international development Value creation and partnerships ✓ ~€5
Slide 12: A large spectrum of expertise
02 A LARGE SPECTRUM OF EXPERTISE TIKEHAU CAPITAL INVESTOR PRESENTATION 12
Slide 13: Our conviction-based thematic investments
Our conviction-based thematic investments Long-lasting expertise in mid-market financing across asset classes and strategies TACTICAL CAPITAL MARKETS PRIVATE DEBT REAL ASSETS PRIVATE EQUITY STRATEGIES STRATEGIES Mid-market financing Asset transformation and Growth Special financing Conviction-based
Slide 14: A large spectrum of investment expertise
A large spectrum of investment expertise A COMPREHENSIVE OFFERING ACROSS ASSET CLASSES AND INVESTMENT VEHICLES INVESTMENT ACTIVITY €0.3bn CAPITAL MARKETS PRIVATE DEBT STRATEGIES €18.8bn €5.1bn • Direct Lending • Fixed Income • Corporate Lending • Equity Secondaries €44.4bn • • Leverage Loans PRIVATE
Slide 15: What our investor-clients are looking for
What our investor-clients are looking for VALUE-ADD 21% YIELD Main performance driver Main performance drivers = = Capital gains Income Asset Management AuM at 31 March 2024 • Targets mid-high teens gross • Targets mid-high single digit IRRs gross IRRs • Back-ended returns • Predictable & regular re
Slide 16: Private Debt
Private Debt TIKEHAU CAPITAL EXPERTISE OUTLOOK Secondaries Continue to scale up Direct Lending and Secondaries strategies (5%) European Direct Lending (37%) Corporate Lending Expand SMAs and evergreen unit-linked vehicles (17%) CLOs & Direct Lending Lev. Loans (41%) €18.8bn (55%) European Lev. CLOs:
Slide 17: Private Equity & Special Opportunities
Private Equity & Special Opportunities TIKEHAU CAPITAL EXPERTISE OUTLOOK Others (3%) PRIVATE EQUITY Special Opportunities Aero & Expand Decarbonization platform globally (20%) Cybersecurity (24%) Scale up Aero and Cybersecurity strategies Secondaries €6.8bn Raise Regenerative Agriculture strategies
Slide 18: 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 €13.4bn 3 of AuM(2) Expand our listed REITs in Fran
Slide 19: 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) >9,000 24% €1.9bn • Prudent and targeted investment approach, while taking advantage
Slide 20: Capital Markets Strategies
Capital Markets Strategies TIKEHAU CAPITAL EXPERTISE Flexible & Equity (11%) High Yield, Investment Grade corporates and Subordinated financials in various open-ended funds and managed accounts Fixed Income Focus on Conviction based management through benchmark free approach (89%) €5.1bn of AuM(1) F
Slide 21: Accelerating growth in Asset Management
03 ACCELERATING GROWTH IN ASSET MANAGEMENT TIKEHAU CAPITAL INVESTOR PRESENTATION 21
Slide 22: 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 23: Solid start to 2024
Solid start to 2024 Dynamic yet highly selective deployment Robust realizations momentum High level of AM net new money €0.8bnin Q1 2024 €0.3bn in Q1 2024 €1.5bn in Q1 2024 Private Equity & Private Equity & Capital Markets Strat. Special Opps Special Opps 23% 25% 13% Net new Deployments Realizations
Slide 24: 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 Selective deployment driven by Private Debt 98% Private Equity & 16 offices Selectivity rate (1)95% Special Opps Private Debt at 31 March
Slide 25: Robust realizations momentum
Robust realizations momentum 2.4 • Healthy pace of realizations Private Equity & • Realizations in Private Equity Special Opps 1.8 mainly linked to exits from first Private Debt vintage of Decarbonization fund, 1.5 21% Growth Equity and Private Equity Secondary strategies €2.4bn • Private Debt reali
Slide 26: Solid performance across our funds
Solid performance across our funds Strong performance metrics Example of realizations since 1 January 2023(2) Fund performance Private Equity Gross Net IRR IRR Energy Transition Private Equity Secondaries Direct Lending Strategy (3rd vintage) 9.4% 7.1% Direct Lending Strategy (4th vintage) 9.5% 7.3%
Slide 27: Granular and diversified exposure by sector and geography
Granular and diversified exposure by sector and geography AM AuM breakdown by sector AM Assets breakdown by geography RoW Other North America 1% 8% 9% Dry Powder Dry Powder UK 16% 3% 16% €42.8bn Continental Europe(1) €42.8bn of AM AuM at 31.12.23 of AM AuM at 31.12.23 Real Estate 28% Top 15 30% sect
Slide 28: Portfolios with high-quality assets and embedded downside protection
Portfolios with high-quality assets and embedded downside protection DIRECT LENDING(1) PRIVATE EQUITY(2) REAL ESTATE(3) High level of granularity High-quality assets +22% +23% 25% LTM Revenue growth LTM EBITDA growth >9,000 Average EBITDA margin Units across RE platform Robust portfolio Healthy Inte
Slide 29: Material acceleration in fundraising
Material acceleration in fundraising Asset Management Net New Money €6.5bn 6.5 6.4 6.4 Capital Markets Strategies €8.8bn +37% Private 2023 gross inflows Equity 4.7 3.2 3.2 Real H2 4.0 Assets 3.9 Relevant strategies Solid track-record H1 3.2 3.3 Private 2.4 Debt Multi-local footprint €bn 2017-2020 20
Slide 30: Continued expansion of our client base globally
Continued expansion of our client base globally AM AuM breakdown by investors nationalities at 31 Dec. 2023 Most represented nationalities in AuM at 31 Dec. 2023(2) 1% Office Opening Year Non-domestic investors(1) €16.9bn 8% 10% 1 United States 2018 8% 2 Italy 2015 +19% 3 United Kingdom 2013 Non-dom
Slide 31: Continued progress in the democratization of private markets
Continued progress in the democratization of private markets AM AuM breakdown by client type at 31 Dec. 2023 Key partners Insurance Private banks Distribution Private investors companies platform €11.4bn 6% 2% 10% 27% 21% of AM AuM at 31 December 2023 €42.8bn AM AuM at 31 December 2023 29% Opale Cap
Slide 32: A pioneer in sustainability
A pioneer in sustainability Finalization of the initial Net Zero Asset Manager targets Signatory of the Net Zero Asset Manager Initiative €3.0bn of Climate & Biodiversity AUM at 31 December 2023 >66% of Group AUM in SFDR Article T2 €1bn closing 8 & 9 funds at 31 Dec. 2023 of variable compensation A+
Slide 33: Sustainability-themed & impact platform
Sustainability-themed & impact platform: FIT TO ADDRESS TRANSITION & RESILIENCE INVESTEE COMPANY REAL ASSETS DECARBONISATION RESILIENCE NATURE AND BIODIVERSITY RESILIENT CITIES PRIVATE EQUITY PRIVATE DEBT PRIVATE EQUITY PRIVATE DEBT PRIVATE EQUITY REAL ESTATE (3) Decarbonisation Unit-linked product(
Slide 34: Sustainability fully embedded within our business model
Sustainability fully embedded within our business model Sustainability at Tikehau Capital 2023-24 recognition(1) (1) >65% 20% 78% of variable compensation linked to of Group’s debt linked to (2) of AuM in SFDR Article 8 & 9 funds people & climate goal sustainability criteria Thematic and impact plat
Slide 35: Granular & Synergetic Investment Portfolio
04 GRANULAR & SYNERGETIC INVESTMENT PORTFOLIO TIKEHAU CAPITAL INVESTOR PRESENTATION 35
Slide 36: Our investment portfolio is increasingly exposed to our asset management strategies
Our investment portfolio is increasingly exposed to our asset management strategies Balance sheet investment portfolio mix (€m) • Disciplined capital allocation • Support of innovation initiatives 3,956 • Exposure to returns deemed attractive 3,858 associated with investments within own 3,527 Ecosys
Slide 37: Strong alignment of interests
Strong alignment of interests 3,858 3,858 217 Other direct investments Ecosystem and direct 889 665 Ecosystem investments investments SPAC sponsoring (€14m) 139 Alongside Tikehau Capital’s Strategies 83 Capital Markets Strategies Fixed income & equity 703 European Core / Core+ real estate Real Asset
Slide 38: Ecosystem and direct investments serving our global platform
Ecosystem and direct investments serving our global platform 3,858 Invest as an LP to complement and Develop long-term strategic relationships Ecosystem 889 consolidate expertise through GP stakes and direct investments Co-invest alongside top-tier GPs globally Create value through balance sheet leg
Slide 39: Financials
05 FINANCIALS TIKEHAU CAPITAL INVESTOR PRESENTATION 39
Slide 40: Simplified consolidated P&L
Simplified consolidated P&L €m FY 2022 FY 2023 Management fees & other revenues(1) 293.5 312.3 Operating costs(2) (184.9) (189.3) Core Fee-Related Earnings (FRE)(3) 108.6 123.0 Core FRE Margin 37.0% 39.4% Solid ramp-up in operating leverage in 2023 driven by scalability and Share-based compensation
Slide 41: Supporting long-term management fee generation
Supporting long-term management fee generation 11% YoY growth in Fee-Paying and Future Fee-Paying AuM Management fees represent 97% of AM revenues Average management 98 bps 94 bps fee rate 42.8 +11% 322 Non fee-paying 37.8 4.2 c.€42m 304 +6% Performance fees & carried interest Incremental management
Slide 42: Solid operating leverage in 2023
Solid operating leverage in 2023 13% year-over-year growth in Core FRE H2 2023 Core FRE margin >40% Core FRE: relevant metric to assess underlying profitability and operating leverage Core FRE 37.0% 39.4% 42.6% margin +13% 123.0 123.0 56.5 €m FY 2022 FY 2023 % change Management fees & other revenues
Slide 43: Continued platform investing and disciplined cost management
Continued platform investing and disciplined cost management Personnel expenses account for Efficient cost management c.70% of AM operating costs(1) in H2 2023 184.9 189.3 189.3 99.6 • Selective hires in key functions and areas of growth Other operating 59.2 (6%) 55.5 costs • Continued geographic ex
Slide 44: Performance-related earnings, a material profit driver ahead
Performance-related earnings, a material profit driver ahead 16% yoy increase in AuM eligible to carried interest 48% yoy increase in unrealized carried interest(1) +16% 19.6 182 +48% 16.9 14.0 123 81 7.1 7.3 5.5 €bn €m 31/12/2021 31/12/2022 31/12/2023 31/12/2021 31/12/2022 30/09/2023 AuM eligible f
Slide 45: Tikehau Capital's approach to performance fees
Tikehau Capital’s approach to performance fees Shareholder-friendly Material mid-term Cautious P&L recognition allocation profitability driver 53% No negative €20bn of carried interest on closed-end funds AuM eligible for carried interest at revenue retained by Tikehau Capital 31 December 2023 100%
Slide 46: Increasing contribution from Tikehau Capital strategies to realized portfolio revenues
Increasing contribution from Tikehau Capital strategies to realized portfolio revenues High basis of comparison in 2022 298 (Univision co-investment and 2023 highlights currency effects(1)) Unrealized portfolio H1: €84m 104 • Acceleration of revenue generation in H2 2023 Revenues H2: €95m (x2.4 yoy)
Slide 47: Active portfolio rotation
Active portfolio rotation PORTFOLIO REVENUES AND CASH GENERATION ARE ON TRACK Strong ramp-up from Substantial cash flow generation Embedded long-term value-creation Tikehau Capital’s strategies The contribution of Tikehau • IFRS revenues only capture a portion x2 Capital’s strategies to realised rev
Slide 48: Robust financial structure supporting our business model
Robust financial structure supporting our business model €m FY 2022 FY 2023 Investment portfolio 3,526 €3.2bn €1.0bn 78% 3,858 Cash & cash equivalents 522 228 Other current & non-current assets 844 818 Shareholders’ Equity, Short-term financial ESG-linked debt Total assets 4,893 4,905 Group share re
Slide 49: Outlook
06 OUTLOOK TIKEHAU CAPITAL INVESTOR PRESENTATION 49
Slide 50: Our key strengths
Our key strengths Mid-market expertise, on thriving verticals Strong Impact platform scaling up Offensive differentiation Enhanced private clients offering for future growth Growing multi-local footprint Asset class diversification Defensive Meaningful skin in the game Embedded profile Low leverage
Slide 51: Outlook: staying the course to deliver on our objectives
Outlook: staying the course to deliver on our objectives CONFIRMATION OF MID-TERM OUTLOOK Structural tailwinds Complementary & well- Strong balance sheet, > positioned strategies a critical asset Cyclical headwinds Favorable long-term allocations Mid-market expertise Greatly aligns interests LPs mor
Slide 52: Fundraising pipeline
Fundraising pipeline Emerging Scaling Established strategies strategies strategies Regenerative Agriculture Decarbonization (2nd vintage) Cybersecurity (4th vintage) Green Assets Special Opportunities (3rd vintage) Value-Add European Sovereignty (equity) Value-Add Real Estate (2nd vintage) Tikehau 2
Slide 53: Asset class target mix by 2026
Asset class target mix by 2026 EXCLUDING POTENTIAL M&A 79% c1/3 Value-add c.100% 21% €9bn at 31.12.16 €43bn at 31.03.24 >€65bn in 2026 Yield Value-add c2/3 Yield As of 31 March 2024. Achievement of objectives and forecasts is not guaranteed. TIKEHAU CAPITAL INVESTOR PRESENTATION 53
Slide 54: Appendix
07 APPENDIX TIKEHAU CAPITAL INVESTOR PRESENTATION 54
Slide 55: Continued increase in fee-paying AuM
Continued increase in fee-paying AuM SUPPORTING LONG-TERM MANAGEMENT FEE GENERATION AuM breakdown Fee-paying AuM by duration 13% 8% Permanent capital Fee-paying 9% 7y or + Future fee-paying 24% €34.9bn 3 to 6y Non fee-paying 10% €42.8bn 22% Fee-paying AUM at Less than 3y AuM at 31 December 2023 82%
Slide 56: A model on its way to deliver full potential
A model on its way to deliver full potential Fee-related earnings Performance-related earnings Investment returns Platform investments ahead of Large flagship funds still in ~50% of investments maturing Current features management fees generation J-curve effect + investment phase Conservative P&L ac
Slide 57: 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 (5%) deal sourcing • Attractive features and risk-adjusted returns thanks to floating rate instruments Direct Lending • Focus on dow
Slide 58: 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 7.1% 7.3% 7.7% €3.3bn • Early mover within the private debt secondaries space €2.1bn illustrating our innovation capabilities • Soli
Slide 59: 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(2): 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 s
Slide 60: 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 (3%) • Thematics approach with top-tier corporate partners • Conservative use of leverage Special Opportunities Aero & • Patient capital and ac
Slide 61: Focus on Tactical Strategies
Focus on Tactical Strategies LEVERAGING ON TIKEHAU CAPITAL’S PLATFORM TO OFFER DIFFERENTIATED INVESTMENT SOLUTIONS INVESTMENT UNIVERSE 2 CONTRARIAN INVESTMENT PROPOSITIONS Broad investment scope providing multi-asset Special Opportunities Multi-Asset Solutions exposure and navigating across the capi
Slide 62: 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 31 Mar. 2024 AuM CAGR International expansion €0.5bn €0.8bn +16% 2019 AuM at acquisition AuM at 31 Mar. 2024 AuM CAGR Business mix rebalancing €0.05bn €0
Slide 63: Fee-paying AuM and management fee rate by strategy
Fee-paying AuM and management fee rate by strategy in €m 2019 2020 2021 2022 2023 Real Assets 7,775 8,925 10,188 11,207 11,141 Private Debt 6,727 7,269 9,670 12,255 14,573 Capital Markets Strategies 3,810 4,184 5,124 4,078 4,644 Private Equity 1,637 2,866 3,383 3,877 4,589 Total fee-paying AuM 19,94
Slide 64: Investment portfolio
Investment portfolio 79% OF THE INVESTMENT PORTFOLIO IS INVESTED IN TIKEHAU CAPITAL’S OWN STRATEGIES +€924m €(565)m €(29)m €3,858m €3,527m 795 (21%) Ecosystem & 726 direct invest. Of which €808m Including returns of Solid performance invested into the capital for the firm’s Group’s own Asset Private
Slide 65: Financial indebtness and amortization plan
Financial indebtness and amortization plan 4.7 years of average debt maturity (1) 0.8 0.5 0.5 0.3 0.1 0.1 2019 Bond - €0.5bn 2021 Sustainable Bond - €0.5bn RCF - €0.8bn 2023 Sustainable Bond - €0.3bn USPP - 10 Y - $115m USPP - 12Y - $65m (1) As of 31 March 2024. TIKEHAU CAPITAL INVESTOR PRESENTATION
Slide 66: Capital structure
Capital structure Share capital ownership at 2 April 2024 Other shareholders and free float 1 Including Tikehau Capital Advisors(1) and other Management 19% entities(2) 2 Shareholders which are also shareholders of Tikehau Capital Fonds Stratégique 7% 1 Advisors and / or part of a shareholders’ agre
Slide 67: Tikehau Capital's simplified organizational chart
Tikehau Capital’s simplified organizational chart Founders & Management Strategic investors 66% 34% Tikehau Capital Advisors and Other shareholders other Management entities(1) (incl. free float) 58% 42% Tikehau Capital (TKO FP) At 2 April 2024 (1) Other entities controlled by AF&Co, MCH and the Man
Slide 68: Shareholder-friendly allocation of carried interest
Shareholder-friendly allocation of carried interest Tikehau Capital: Group’s parent company whose securities are listed on Tikehau Capital the regulated market of Euronext Paris. The purpose of the Company is to 53.3% 26.7% invest directly or indirectly in the Group’s investment platforms Asset Mana
Slide 69: An experienced and committed leadership team (1/3)
An experienced and committed leadership team (1/3) CO-FOUNDERS GROUP MANAGEMENT Thomas FRIEDBERGER Frédéric GIOVANSILI Henri MARCOUX Group Deputy Chief Executive Officer, Group Deputy Chief Executive Officer, Co-Chief Group Deputy Chief Executive Officer Chairman of Tikehau IM Investment Officer, Ch
Slide 70: An experienced and committed leadership team (2/3)
An experienced and committed leadership team (2/3) HEADS OF BUSINESS LINES AND OPERATIONAL FUNCTIONS HEADS OF COUNTRY/REGIONS Arnaud ATTIA Célia HAMOUM Erika MORRIS Carmen ALONSO Tim GRELL Bruno de PAMPELONNE Chief Operating Officer Co-head of Private Wealth Head of the US CLO United Kingdom & Iberi
Slide 71: An experienced and committed leadership team (3/3)
An experienced and committed leadership team (3/3) EXPERTISE TEAM CAPITAL REAL PRIVATE MARKETS TACTICAL PRIVATE DEBT ASSETS EQUITY STRATEGIES STRATEGIES Cécile Maxime Guillaume Jean-Marc Emmanuel Mathieu Raphaël Peter MAYER-LÉVI LAURENT-BELLUE ARNAUD PETER LAILLIER BADJECK THUIN CIRENZA Head of Priv
Slide 72: Strong Corporate Governance
Strong Corporate Governance A highly independent and experienced Supervisory Board Capital Allocation Committee Board composition Board Committees ▪ Role: assist the Managers in its investment decisions and in 11 Audit & Risk Committee monitoring the financial performance Members, including 1 expect
Slide 73: Tikehau Capital – Supervisory Board
Tikehau Capital – Supervisory Board INDEPENDENCE, EXPERIENCE AND EXPERTISE Christian de LABRIFFE Roger CANIARD Fonds Stratégique de Participations, Sophie COULON-RENOUVEL Maximilien DE LIMBURG STIRUM Jean-Pierre DENIS Chairman of the Supervisory board Head of MACSF Financial represented by Florence
Slide 74: Contacts
Contacts Shareholders and Investors contact Louis IGONET Théodora XU Head of Investor Relations Investor Relations Director ligonet@tikehaucapital.com txu@tikehaucapital.com +33 (0) 1 40 06 11 11 +33 (0) 1 40 06 18 56 Analyst coverage Berenberg CIC Market Solutions Exane BNP Paribas Goldman Sachs Ke
Slide 75: 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 76: 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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