Tikehau Capital hits €630m first close for coronavirus aerospace support fund, could collect €1bn


Tikehau Capital’s ACE Management subsidiary has hit €630m for a first close of a new fund looking to support the troubled aerospace sector in the wake of the coronavirus pandemic.

French minister of economy, finance and recovery Bruno Le Maire announced the fund launch last month, aiming for it to be a key lever to support SMEs and mid-cap companies in the civil aviation industry – many of which have been severely affected by the economic crisis resulting from the Covid-19.

Airbus, Safran, Thales and Dassault Aviation launched a call for tenders, and selected Tikehau and its subsidiary ACE.

ACE Aero Partenaires beat the €500m goal for its initial close, and is hoping to collect up to €1bn at final close.

Eric Trappier, chairman and CEO of Dassault Aviation, said, “This success demonstrates the strategic nature of civil aeronautics in terms of employment, technology and foreign trade.

“Such a commitment, which is set to grow with the contribution of other investors, will effectively help the exceptional French aerospace supply chain, which is the basis of our industry.

“It is about supporting the most fragile companies, preserving skills, encouraging digital modernization and environmental transition.

“The solidarity and cohesion of our eco-system have been exemplary for more than a century.”

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