French fund manager Tikehau has agreed to buy a 35% stake in Duke Street Capital, a UK-based private equity group that abandoned plans to raise a new fund last year, according to the Financial Times.
Duke Street will use the proceeds of the capital increase to seed a new buyout fund, which will seek as much as £150 million in commitments in total, Peter Taylor, the company’s managing partner, told the Financial Times.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The article added that, Tikehau will also commit to the fund, as well as Duke’s partners.
"The plan is to invest £500 million over three years, using a combination of committed funds and a majority of deal-by-deal money from other investors," Taylor was quoted as saying by the publication.
"This deal with Tikehau gives us the underwriting capability. It means that, at any time, we will be able to underwrite any equity investments we want," Taylor added.
The financial terms of the transaction were not disclosed.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
