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    Is Tikehau Capital’s Enlarged Revolving Credit Facility Altering The Investment Case For Tikehau (ENXTPA:TKO)?

    Simply Wall St·12/12/2025 03:34:47
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    • Tikehau Capital recently renewed and upsized its Revolving Credit Facility, lifting available capacity from €800 million to €1.15 billion and extending potential maturity from 2030 to 2032, with participation from 15 banks across Europe, North America, and Asia.
    • This larger, oversubscribed facility and lower current drawing of €275 million versus €350 million in June 2025 highlight increased financing flexibility and broad lender confidence in the group’s balance sheet strength.
    • We’ll now examine how this enlarged, longer-dated Revolving Credit Facility shapes Tikehau Capital’s investment narrative around growth, resilience, and risk.

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    Tikehau Capital Investment Narrative Recap

    To own Tikehau Capital, you have to believe in its ability to keep growing fee based, alternatives focused asset management while managing liquidity and margin pressures. The upsized, longer dated €1.15 billion Revolving Credit Facility modestly strengthens the near term picture, giving the group more room to support fundraising and deployment, but it does not directly resolve the key short term concern around fee related earnings margin compression or the structural risk from its heavy tilt to illiquid private markets.

    Among recent announcements, the April 2025 issue of €500 million in senior unsecured bonds at a 4.250% coupon and the partial refinancing of maturing debt sit neatly alongside the new Revolving Credit Facility. Together they underline Tikehau’s effort to broaden funding sources and extend maturities, which matters for investors watching how the group balances its growth ambitions in private markets with liquidity management and sensitivity to periods of market stress.

    Yet for investors, the bigger question is what happens if liquidity in Tikehau’s core illiquid private markets tightens just as fundraising from retail clients...

    Read the full narrative on Tikehau Capital (it's free!)

    Tikehau Capital's narrative projects €1.0 billion revenue and €431.9 million earnings by 2028. This requires 18.1% yearly revenue growth and about a €247 million earnings increase from €184.7 million today.

    Uncover how Tikehau Capital's forecasts yield a €24.18 fair value, a 62% upside to its current price.

    Exploring Other Perspectives

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    Four fair value estimates from the Simply Wall St Community span a wide range, from about €8.99 to €28 per share. As you weigh these views, it is worth setting them against Tikehau’s increased financing flexibility, which supports its alternatives led growth strategy but also interacts with its concentration in illiquid private markets and the liquidity risks that come with that focus.

    Explore 4 other fair value estimates on Tikehau Capital - why the stock might be worth as much as 87% more than the current price!

    Build Your Own Tikehau Capital Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.