Adia, Apollo invest in Tikehau’s EUR 1 bn fund to back Egis growth

Adia subsidiary joins Tikehau’s EUR 1 bn private equity fund: A consortium comprising a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and private capital group Apollo’s private markets fund Apollo S3 invested in global asset manager Tikehau Capital ’s EUR 1 bn private equity continuation fund, according to a press release (pdf). The fund is dedicated to Tikehau’s engineering and consulting portfolio company Egis.

Use of proceeds: The funding will help Egis pursue strategic acquisitions, as it looks to double in size by 2028, with a particular focus on building a stronger platform in North America “that matches the scale of the market,” CEO Laurent Germain said.

Who else joined in? The fund also received backing from investment manager Neuberger Berman and the Tikehau Decarbonization Fund II — Tikehau’s second decarbonization-focused private equity fund, which recently surpassed EUR 2 bn in total commitments.

The continuation fund also received additional subscription commitments, providing Egis with further support for future capital raises.

Adia has been an active investor in private equity + private credit funds this year: Adia also acquired an additional USD 5 mn stake in Jefferies Credit Partners’ debt fund last month and anchored AlbaCore’s USD 1.8 bn European lending strategy in March.