Tikehau Investment Management lifted out a team from Lyxor Asset Management that manages €700 million ($768 million) in European senior debt funds, said a spokeswoman for Tikehau.
The spokeswoman said this is the first liftout between Tikehau Capital’s investment management business and Lyxor. The deal expands Tikehau Capital’s leveraged loans and collateralized loan obligations assets under management to €2.6 billion, and will bring total AUM to €9.8 billion.
Lyxor’s European senior debt operational team will join Tikehau in London. Lyxor will remain the manager of these funds, said Tikehau Capital, parent company of Tikehau Investment Management, in a news release.
Terms of the deal were not disclosed.
“The agreement with Lyxor allows us to expand in the United Kingdom and to continue developing our expertise in leveraged loans and European credit markets in an especially supportive low-interest-rate environment,” said Mathieu Chabran, co-founder of Tikehau Capital and managing director of Tikehau Investment Management, in a news release.
In the same news release, Lionel Paquin, CEO of Lyxor, added: “Tikehau Capital, thanks to its well-regarded expertise in European debt markets, will greatly contribute to the quality and future development of this activity.”