Pegasus Entrepreneurs, Tikehau Capital’s Second Sponsored SPAC Raises €210 Million in Private Placement Upsized Due to Strong Investors’ Demand

PARIS–(BUSINESS WIRE)–Regulatory News:

Tikehau Capital (Paris:TKO), the global alternative asset management group, today announced that Pegasus Entrepreneurial Acquisition Company Europe (“Pegasus Entrepreneurs”), its second sponsored-SPAC, has successfully raised €210 million in a private placement. The offering was upsized by €10 million due to strong investors’ demand.

This includes a €31 million investment from the Sponsors showing a strong alignment of interests with all shareholders.

Pegasus Entrepreneurs will start trading on Euronext Amsterdam today. This marks the second successful SPAC launch for Tikehau Capital in 2021.

Pegasus Entrepreneurs was launched by Tikehau Capital alongside co-sponsors Financière Agache, Pierre Cuilleret (see biography below) who acts as sponsor & CEO, Jean-Pierre Mustier and Diego De Giorgi.

This initiative is part of Tikehau Capital’s ongoing effort to build-out its global product offering relying on its strong global network and footprint. Pegasus Entrepreneurs, and SPACs in general, are a natural extension of Tikehau Capital’s business, providing companies with new ways to access capital and allowing investors to have access to differentiated investment vehicles.

Pegasus Entrepreneurs will aim to partner with a European headquartered entrepreneur-led business that has a track record of achieving high growth and a clear expansion and value creation plan. Potential targets may include a broad range of business models including mature businesses with established franchises and strong capital positions.

Pierre Cuilleret will be supported by Baptiste Desplats, CFO of Pegasus Entrepreneurs. Baptiste brings decades of capital markets and M&A experience and advised leading companies in various sectors in Europe.

Pegasus Entrepreneurs follows Pegasus Europe which has successfully raised €484 million in April 2021 and aims at partnering with a financial services company with strong growth potential.

Tikehau Capital, Financière Agache and their co-sponsors are the first to have launched two successful SPACs in 2021 meeting investors’ appetite.

Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital said: “As entrepreneurs ourselves, we have always worked hand-in-hand with individuals who share our entrepreneurial vision and approach. Financing and accelerating the growth of companies is at the core of Tikehau Capital’s DNA, and as such we are delighted to sponsor, together with Financière Agache and the team of our first Pegasus SPAC, this second SPAC led by Pierre Cuilleret who has a strong track record as an entrepreneur. SPACs provide an efficient financing solution alongside private equity and IPOs and are an effective way to deploy capital. We believe they are a natural extension of Tikehau Capital’s existing investment expertise. Pegasus Entrepreneurs will leverage our strong European-wide sourcing network and capabilities as well as our relationships with entrepreneurs. Pegasus Entrepreneurs will offer investors a unique opportunity to access top-tier investment opportunities in high-performing, entrepreneur-led private companies.”

Pierre Cuilleret’s biography

Pierre has 30 years of professional experience growing companies and creating value for shareholders as a serial entrepreneur, investor and board member.

In 1996, Pierre founded, with Geoffroy Roux de Bézieux, The Phone House, a fast-growing specialist mobile phone retailer that later became part of Carphone Warehouse plc, which listed on the London Stock Exchange in 2000.

In 2005, Pierre invested alongside L-Catterton in video game retailer Micromania and became CEO. Under Pierre’s leadership, Micromania grew rapidly and was sold to GameStop for approximately $700 million in 2008.

Pierre was an early investor in Facebook, Uber, Royalty Pharma and Moderna. Since 2011, he has served as a non-executive board member for both listed and private companies, including DIA and Desigual in Spain and Boohoo Group Plc in the UK. After studying in France, Sweden and California, Pierre’s early career was spent in strategy and business transformation consulting. Advising companies such as Disney and Orange, his focus was on growth, digitalisation, organisation, improving customer experience, brand building and corporate culture.

ABOUT TIKEHAU CAPITAL

Tikehau Capital is a global alternative asset management group with €31.8 billion of assets under management (as of 30 September 2021). Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies.

Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives.

Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€2.9 billion of shareholders’ equity as of 30 June 2021), the firm invests its own capital alongside its investor-clients within each of its strategies.

Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 672 employees (as of 30 September 2021) across its 12 offices in Europe, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP).

For more information, please visit: www.tikehaucapital.com

DISCLAIMER:

This document does not constitute an offer of securities, fund units or any financial instruments for sale or investment advisory services. It contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed.

Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. In particular, an investment in a fund is speculative and presents risks, including a risk of loss of capital. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.

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Contacts

PRESS:

Tikehau Capital: Valérie Sueur – +33 1 40 06 39 30

UK – Prosek Partners: Henrietta Dehn – +44 7717 281 665

USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238

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SHAREHOLDERS AND INVESTORS:

Louis Igonet – +33 1 40 06 11 11

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