Tikehau Capital has reached an agreement with France-based asset manager Lyxor’s UK subsidiary to manage the latter’s European senior debt funds.
The deal will see Tikehau expand its leveraged loans and collateralised loan obligations business from $1.9 billion (€1.7 billion) in assets in management (AuM) to $2.6 billion, bringing the firm’s total AuM to $9.6 billion.
The deal means that Tikehau Investment Management, the asset management arm of Tikehau Capital, will take over from Lyxor UK as the investment manager of Lyxor’s four European senior debt funds, with a total of €700 million in AuM.
As part of the deal Lyxor UK’s European senior debt operational team will join Tikehau in London.
“This agreement plays to Lyxor’s well-recognised strengths for working in partnership with external asset managers, a field in which we have a nearly 20-year track-record. By remaining the management company of the funds, Lyxor continues to accompany its clients,” said Lionel Paquin, chief executive officer of Lyxor.
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