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Tikehau Capital closes ACE Management acquisition

Euronext Paris-listed asset manager and investor Tikehau Capital closed its purchase of ACE Management, following competition authority and other regulatory approvals.

As part of the deal, Tikehau issued 86,639 new ordinary shares at par value of €12 apiece as consideration for the contribution of 197,000 shares in ACE Management's holding company, ACE Partners. The ACE Partners shares contributed by nine shareholders of that company have an aggregate value of about €2.4 million.

Tikehau said it requested to have the newly issued shares admitted to trading on the regulated market of Euronext Paris. Tikehau now directly and indirectly holds 100% of ACE Management as a result of the contribution transaction and the cash sale of the remaining shares in ACE Partners and 70% of the share capital of ACE Management.

ACE Management is a Paris-headquartered private equity investor focused on the aerospace, defense and cybersecurity sectors.

Tikehau said the acquisition of ACE Management expands its private equity strategy with the addition of the energy-transition fund and the special-opportunities fund to its general fund for growing businesses.