Pensioenfonds Detailhandel, the Dutch scheme for the retail industry, has appointed Tikeau Capital to manage a €100m impact private debt mandate, through its Impact Lending strategy.
The investment mandate issued follows the scheme’s decision to allocate around 1% of its €32bn total assets to three managers active in the impact investing space.
Tikehau Capital was selected for its pan-European capabilities , while last month, Detailhandel invested in Polestar Capital’s circular economy debt fund.
A third manager will be issued with a mandate focused on emerging markets shortly, it was announced.
Launched in December 2020, Tikehau Capital’s Impact Lending strategy seeks to contribute to a sustainable European economy while providing investors with competitive returns.
It primarily invests in SMEs which contribute to the sustainable economic transition through their product offering, resource management, or processes.
In February 2021, the fund held a first close at approximately €100m with the support of EU European Fund for Strategic Investments (EFSI). At the end of December 2021, the fund was managing €273m.
Detailhandel’s mandate is aligned with three of the UN’s Sustainable Development Goals (SDGs), namely SDG 8 (Decent Work & Economic Growth), SDG 12 (Responsible Consumption & Production) and SDG 13 (Climate Action) – areas that are part of Tikehau Impact Lending fund’s priorities and investment framework.
“Investing our capital with a socially responsible approach, whilst generating long-term value is central to our investment principles and decision-making at Pensioenfonds Detailhandel,” said Henk Groot, the scheme’s head of investments.
Nathalie Bleunven, head of corporate lending at Tikehau Capital, said: “The Netherlands is well known for being ahead of the curve when it comes to their ESG outlook and approach.”
She added that Detailhandel is “leading the way when it comes to investing their capital responsibly”.
Tikehau Capital: new office, new co-heads in Israel
The asset manager has also announced it is expanding its global footprint through the opening of an office in Tel Aviv led by Asaf Gherman and Rudy Neuhof, newly appointed co-heads of Israel.
The firm said the Israeli market has significant untapped growth potential for Tikehau Capital. Its dynamic and high-growth OECD economy has accelerated its position as a global innovation hub with sophisticated institutional and business communities, it stated.
Tikehau Capital wants to build a strong local presence in Israel in order to capture the growing demand for alternative assets from local investors, driven by structural market shifts.
With this new permanent presence, the group has the ambition to accelerate its expansion in the country, drawing on its expertise, resources, and global network across its various asset classes – private debt, real assets, private equity, and capital markets strategies – and direct investment activities, it said.
Gherman and Neuhof will be responsible for leading the group’s growth efforts in the country as well as strengthening the firm’s relationships with Israeli institutional investors and the wider business community.
Both combine 40 years of experience in capital markets, alternative and direct investments and bring with them an extensive network and knowledge of the institutional landscape and business community.
They had worked together as a team for a decade. Prior to joining Tikehau Capital, Gherman was head of syndications, debt management and products at Bank Leumi, while Neuhof was head of private and structured debt at Migdal Insurance.
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