Global alternative asset management group Tikehau Capital has joined forces with Financière Agache, Jean-Pierre Mustier and Diego De Giorgi to sponsor a Special Purpose Acquisition Company (SPAC), which will focus on the European financial services sector.
Tikehau Capital aims to leverage its global network, origination capacity and equity base to sponsor value-creating projects, starting with a
SPAC that will focus on European financial services related businesses, with a primary focus on scalable platforms offering strong profit growth potential.
This initiative will leverage the industry expertise, deal sourcing and execution capabilities of its four founding sponsors including Jean-Pierre Mustier and Diego De Giorgi, who will be the operating partners of the company. Financière Agache and Tikehau Capital, as strategic and financial sponsors, will bring meaningful resources and support to the company.
Targets will be aligned to four financial services areas undergoing an accelerated transformation:
- traditional and alternative asset management platforms,
- innovative financial technology firms,
- insurance and insurance related services, and
- diversified financial services companies with strong customer propositions in attractive segments.
The four sponsors plan to invest collectively a minimum of 10 per cent of the initial amount raised and to commit to enter into a substantial forward purchase agreement.