Tikehau European Private Credit

TEPC

Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

Manager:

Tikehau Capital

Website:

https://www.tikehaucapital.com/

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.A.)

Regulatory Regimes:

ELTIF, Lux UCI (Part II)

Term:

99 years

Base Currency:

EUR

Launch Year:

2025

Inception Date:

Nov 19, 2024

Target Net Return:

7% gross per annum

Size:

€153.5M (as of Jan 31, 2026)

No. of Investments:

53 (as of Jan 31, 2026)

Administrator:

The Bank of New York Mellon SA/NV, Luxembourg Branch

Investor Eligibility Segments:

Institutional, Professional / Accredited, Retail

Permitted Distribution Countries:

Luxembourg, Italy, Switzerland, United Kingdom, United States

Strategy

TEPC is an evergreen ELTIF private credit fund investing mainly in floating‑rate first‑lien senior secured loans to mainly European mid‑market companies, with selective second‑lien, unsecured, subordinated, mezzanine and holdco debt plus occasional equity/quasi‑equity. It finances leveraged buyouts, acquisitions and corporate purposes, with opportunistic exposure to real estate, structured and hybrid credit, via loans and bonds acquired in primary and secondary private markets.

Asset Classes:

Private Credit

Strategy:

Direct Lending (PC)

Underlying Investment Type:

Direct investments

Geographic Focus Region:

Europe

Geographic Focus:

European Union, United Kingdom, Switzerland, OECD countries

Sector Focus (GICS):

Diversified

Sector Focus (not standardized):

Business services, High-tech industries, Healthcare, Finance, Environmental industries

Other Focus:

ESG Investment Focus

Leverage Limits Summary:

Indebtedness capped at 30% of NAV (10% short-term); AIFMD leverage up to 230% gross / 150% commitment.

Investment Limits Summary:

No more than 20% of NAV per investment; target 80% private credit / 20% liquid.

Performance

for F-Acc bis share class

Total Returns (% Net of Fees)

Net returns (since inception)	F-Acc bis
Total Return	2.7%
Annualized Return	6.6%
Best Month	(Oct 2025)1%
Worst Month	(Nov 2025)0.4%
Risk metrics (since inception)
Volatility	1%
Sharpe Ratio (4.3% risk-free)	2.2

Yearly returns (since inception)

Allocations

Strategy allocation

Strategy

as of Jan 31, 2026Include liquidity sleeve

Target

Strategy

as of Jan 31, 2026

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Strategy

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Seniority allocation

Seniority

as of Jan 31, 2026Include liquidity sleeve

Target

Seniority

as of Jan 31, 2026

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Over time

Seniority

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Sector allocation

Sector

as of Jan 31, 2026Include liquidity sleeve

Target

Sector

as of Jan 31, 2026

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Over time

Sector

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Geography allocation

Geography

as of Jan 31, 2026Include liquidity sleeve

Target

Geography

as of Jan 31, 2026

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Geography

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Key terms

for F-Acc bis share class

Share Class

Minimum Subsribtion:

€40,000

Currency:

EUR

Inception Date:

Feb 1, 2025

Distribution Type:

Accumulating

Investor Type:

Retail

ISIN:

LU2953608952

Liquidity

Gate:

5% of aggregate NAV per calendar quarter.

Gate Level:

Fund level NAV

Redemption Frequency:

Quarterly

Redemption Basis:

NAV per Share as of the Valuation Date (quarter-end NAV)

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share as of the monthly Valuation Date (last calendar day of the month)

Fees

Management Fee:

0.75%

Payable monthly before flow and FX adjustments.

Management Fee Basis:

NAV

Performance Fee:

10.00%

5% annual hurdle with 100% catch-up for income component; monthly accrual; paid annually.

Performance Fee Basis:

Net Investment Income, Realized Capital Gains

Two components: net ivestment income and realized capital gains; annual crystallisation.

Hurdle rate:

5.00%

Income component only; measured annually with monthly accrual; pro-rated for partial periods

Catch-up:

100.00%

Income component only; 100% catch-up between 5% hurdle and 5.72% annual Net Investment Income; then 12.5% share of excess income

Front load (subscription):

0.00%

Subscription fees may be charged by intermediaries outside the fund.

Back load (redemption):

2.00%

If redeemed within 18 months of subscription.

Servicing fee:

0.00%

Management Fee:	0.75%	Payable monthly before flow and FX adjustments.
Management Fee Basis:	NAV
Performance Fee:	10.00%	5% annual hurdle with 100% catch-up for income component; monthly accrual; paid annually.
Performance Fee Basis:	Net Investment Income, Realized Capital Gains	Two components: net ivestment income and realized capital gains; annual crystallisation.
Hurdle rate:	5.00%	Income component only; measured annually with monthly accrual; pro-rated for partial periods
Catch-up:	100.00%	Income component only; 100% catch-up between 5% hurdle and 5.72% annual Net Investment Income; then 12.5% share of excess income
Front load (subscription):	0.00%	Subscription fees may be charged by intermediaries outside the fund.
Back load (redemption):	2.00%	If redeemed within 18 months of subscription.
Servicing fee:	0.00%

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
F-Acc bis	40,000 EUR	EUR	2025-02-01	Accumulating	Retail	LU2953608952	-
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is Tikehau European Private Credit?

Tikehau European Private Credit is an evergreen ELTIF fund focused on Private Credit and managed by Tikehau Capital.

Who manages Tikehau European Private Credit?

Tikehau European Private Credit is managed by Tikehau Capital, based in Paris, France.

How big is Tikehau European Private Credit?

Tikehau European Private Credit has a size of €153.5M.

What type of fund is Tikehau European Private Credit?

Tikehau European Private Credit is an open-ended / evergreen ELTIF fund investing in private credit and domiciled in Luxembourg.

When was Tikehau European Private Credit launched?

Tikehau European Private Credit was launched on Nov 19, 2024 and is structured as a Lux SICAV (S.A.) vehicle with a 99 years term.

Where is Tikehau European Private Credit domiciled and regulated?

Tikehau European Private Credit is domiciled in Luxembourg under ELTIF and Lux UCI (Part II).

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Borgline's analyst team cross-checks key figures across independent documents and updates the database only when data is confirmed against the latest, most authoritative disclosures.

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