DWS Group and Tikehau Capital agreed to collaborate on alternative investments, following Tikehau's acquisition of a minority stake in DWS at the initial public offering in March, a DWS spokeswoman said.
DWS and Tikehau Capital intend to launch a joint alternatives product and platforms focusing on private equity and non-listed infrastructure opportunities in 2019.
DWS, a German money manager with €687 billion ($794 billion) in assets under management, will cross-invest in Tikehau's subordinated financial debt strategy, planned special-situations strategy and other funds. Tikehau, a French manager with €14.8 billion in assets under management, plans to market its loan strategies to DWS' German client base.
"This is an important alliance aligned fully to our ambition to expand our presence further in the alternatives asset class, an area where we see sharply increasing interest from clients," said Nicolas Moreau, CEO and chairman of the executive board of DWS Group, said in a DWS news release. "We look forward to working closely with Tikehau Capital to the benefit of our clients, bringing together our complementary skills and expertise in alternative investing," Mr. Moreau said.
Antoine Flamarion, co-founder of Tikehau Capital, added in the news release: "It shows how meaningful it was to participate in DWS' IPO. We are working closely on the implementation of our respective growth strategies and on additional initiatives."
Tikehau Capital has €2.3 billion in shareholder equity in DWS.
A Tikehau spokesman could not be reached for comment.