Tariff-related uncertainty in the U.S. is creating more opportunities for investments in Europe, sources said at the Milken Institute Global Conference 2025 in Beverly Hills, Calif.
Mathieu Chabran, co-founder of Paris-based Tikehau Capital, a global alternative asset manager with $53.4 billion in AUM, called the tariff-related uncertainty the “best thing that could happen to Europe.”
“That has been a shock to many, but … the change in capital flows that we are witnessing are happening in real time,” Chabran told Pensions & Investments on the sidelines of the conference on May 6.
Seema Shah, chief global strategist at Principal Asset Management echoed that thought in a separate panel later in the day, stating that “there is a new sense of optimism around European investments.”
Chabran added that there will be opportunity for private equity in Europe, contending, “Given that President (Donald) Trump opened the Pandora's box of the European reindustrialization opportunity, you need to finance that. And that cannot be financed only through public spendings.”
He pointed to defense and decarbonization as two areas in Europe that could specifically benefit from private capital.
“Businesses always want certainty and stability,” according to Bridget Gainer, global head of public affairs and policy at Aon, who also spoke with P&I on the sidelines of the conference.
“The question becomes how much more expensive is it … (for businesses) to operate in Europe,” Gainer said, noting that there’s increased regulatory burdens in the region.
