Federal Holding and Investment Co. of the Belgian government hired Tikehau Investment Management to manage the Belgian Recovery Fund, which will have an estimated €350 million ($409 million) in assets.
Celine Vaessen, CIO at the investment company, which manages the government's investments, confirmed in an email that Tikehau will be responsible for the fundraising, deal sourcing and the investment decisions of the recovery fund, which will finance Belgian companies negatively affected by the COVID-19 pandemic.
The recovery fund will target companies that were impacted by the crisis but can continue to operate, Ms. Vaessen said.
The company will commit up to €100 million to the fund, while up to €250 million will be raised from local and international institutional investors.
Since the beginning of the pandemic, the company has injected more than €400 million into Belgian companies in sectors such as aeronautics and life sciences, which were strongly affected by the crisis, CEO Koen Van Loo and Ms. Vaessen said in a joint statement.