This press release is published by Tikehau Capital
Paris, 16 June 2025 - Tikehau Capital, the global alternative asset management group, in partnership with Société Générale Assurances, CNP Assurances and CARAC Group, three leading insurers, announces the launch of an innovative private equity fund dedicated to the strategic sectors of defense, cybersecurity and European security. The fund, structured mainly around private equity strategies managed by Tikehau Capital1, will be available as unit-linked products in the life insurance and retirement savings policies of the three partners from September 2025.
Initiated by Tikehau Capital, this Article 8 fund has an initial commitment of 150 million euros, invested in equal parts by the three partner insurers. This capital contribution reflects their shared desire to support the strengthening of French and European industrial and technological capabilities, against a backdrop of growing challenges to strategic autonomy in defense and security. The aim is to support the emergence of future European leaders, while promoting job creation and economic dynamism in France and Europe. The strategic sectors of aeronautics and cybersecurity, which are essential to our defense, will receive particular attention because of the size and growth momentum of their markets. Many high-potential companies in these fields are also distinguished by the dual nature of their activities, both civilian and military – a factor that strengthens their resilience and encourages cross-fertilization between defense and civilian industries.
A unique investment product tailored to the challenges of sovereignty
Named Tikehau Défense et Sécurité (TDS), this new fund will be the first unlisted asset vehicle eligible for unit-linked investment dedicated entirely to defense and security issues.
In the first phase, the three partner insurers launching the fund will have exclusive rights for one year, until September 2026, to list and market the fund within their policies. At the end of this period, Tikehau Defense and Security may be offered to other insurers and will be accessible to any professional investor.
Tikehau Defense and Security will be available to individual policyholders, enabling them to diversify their savings by investing in strategic sectors of the European economy, while targeting an attractive performance.
Exceptional expertise now available to investors
This fund will be able to invest in primary, secondary or co-investment in European companies in the targeted sectors, and to a lesser extent in private debt. It will draw on Tikehau Capital's recognized expertise4 in private equity and private debt and will benefit from the know-how of its lead manager in the aerospace, defense and cybersecurity sectors – a differentiating approach in the market.
Since 2021, a dedicated team of 30 investment professionals within Tikehau Capital has built up a diversified portfolio of more than 30 European companies operating in these strategic sectors. Previously reserved for institutional investors, these strategies will now be accessible to a wider audience thanks to the fund's innovative structure. The vehicle will be structured as a Specialized Professional Fund (SPF) in compliance with the new ELTIF 2.0 regulations, and will adopt an "evergreen" format, with a 99-year lifespan and subscription or redemption windows available every 15 days.
By making these investments available to individual investors, Tikehau Capital, Société Générale Assurances, CNP Assurances and the CARAC Group, with the support of the French Ministry of Defense and the French Armament Procurement Agency, intend to make an active contribution to the financing of these critical sectors, while at the same time meeting growing demand for savings products geared towards the real economy and long-term strategic priorities.
"With four private asset unit-linked products launched in 5 years, Tikehau Capital has become a key player in the democratization of non-listed investments via life insurance in France, with more than €1.5 billion raised to date. Building on this experience, and against a rapidly changing geopolitical backdrop, we are now looking to go one step further by offering a fund invested mainly in private equity. This will enable policyholders to participate in the national investment effort in strategic sectors" says Henri Marcoux, Deputy CEO of Tikehau Capital.
"As a partner and shareholder of Tikehau Capital since 2011, taking part to the launch of this fund dedicated to defense and security seemed natural to us. It will enable us to step up our own investments in companies supporting the sovereignty and strategic autonomy of France and Europe. In a perfect alignment of interests, we are also very proud to offer this opportunity to our members and, through our subsidiary Selencia – dedicated to the specialized IFAs channel in wealth management advice – to our clients", emphasizes Michel Andignac, Chief Executive Officer of the CARAC Group.
"We are delighted to announce this new partnership with Tikehau Capital. It provides investors with a unique opportunity for diversification by granting access to assets typically reserved for institutional investors, while also enabling them to participate in the financing of European companies in the defense and security sectors. From September onwards, this innovative investment solution will further expand the range of real assets offered by Société Générale Assurances. The launch of this fund also highlights the Société Générale group’s commitment to supporting the needs of these strategic sectors", adds Philippe Perret, Chief Executive Officer of Société Générale Assurances.
"CNP Assurances relies on the expertise of Tikehau Capital to offer its customers and partners access to a specific asset class to diversify their savings and seek performance by investing in units of account consisting mainly of private equity. This Article 8 fund also enables them to participate in the development of the industrial fabric of European defense and security by supporting companies in the sector", says François Guilgot, Head of Wealth Management Europe at CNP Assurances.