Nikko Asset Management and alternatives firm Tikehau Capital have joined forces to launch a private markets investment platform for the Asian market.
Singapore-based Tikehau Amova Investment Management will develop private asset investment strategies that are tailored to the Asian market, a news release said. The platform was incorporated at the end of last year, with a licensing application made to the Monetary Authority of Singapore earlier this year. The launch is subject to regulatory approval.
The joint venture platform will use Tikehau Capital’s Asian private debt capabilities, and there are plans to introduce a dedicated investment strategy focused on decarbonization in Asia, the news release said.
The new venture is part of a strategic partnership formed by Nikko and Tikehau in June. That partnership outlined three pillars: the formation of a Singapore-based private markets joint venture firm; that Nikko would take an equity stake in Tikehau; and a distribution agreement that gave Nikko exclusive rights to distribute mainly in Japan, and nonexclusive rights in other selected Asian markets to distribute Tikehau’s European direct lending, private equity decarbonization and private debt secondaries strategies.
Nikko Asset Management Co. will be renamed as Amova Asset Management Co. on Sept. 1. The firm had $246.1 billion in assets under management as of Sept. 30. Tikehau had €49 billion ($51 billion) in AUM as of Dec. 31.
Tikehau said on an earnings call Feb. 20 that its holding in U.K.-based Schroders could pave the way for a partnership between the two firms, Bloomberg reported.
Tikehau’s conviction that Schroders, which had £773.7 billion ($978.3 billion) in AUM as of June 30, will see its stock rise is the primary rational behind its holding. However, Antoine Flamarion, Tikehau’s co-founder, said on the call that “there may be some commercial collaboration in the future.”
It’s the first time Tikehau has explained the decision, disclosed last week, to raise its stake in Schroders to above 4%. Tikehau spent about €55 million to buy the additional shares, the firm said on the call.
