Real assets

Property assets selected to generate long-term performance

Through our Real Estate asset class, we invest in all types of real estate assets (offices, retail, logistics, hotels, residential), both existing and ripe for redevelopment, in Core+ or Value-Added strategies, putting energy efficiency and sustainability criteria at the heart of our investment philosophy.  Our European real estate impact strategy leverages our firm-wide experience and commitment, driving the transition towards efficient and certified buildings, to accelerate positive change for society.

Our real asset activity includes our subsidiaries: Sofidy, Tikehau Star Infra and IREIT GLOBAL.

Since 1987, Sofidy has been designing and developing investment and savings products (real estate investment trusts and companies (SCPI, OPCI), publicly traded real estate companies (SIIC), civil companies, real estate funds, dedicated funds) focusing primarily on retail and office property. As a leading player in the real estate asset management landscape in France and Europe, approved by the AMF, Sofidy is regularly recognised for the quality and consistency of its funds’ performance. Sofidy manages a property portfolio of over 5,000 retail and office assets for more than 50,000 investors and a large number of institutional investors.

Tikehau Star Infra (formerly known as Star America Infrastructure Partners) is a U.S. headquartered developer and manager of infrastructure assets. With an investor base that includes large institutional investors such as insurance companies and pension funds, among others, Tikehau Star Infra focuses on delivering infrastructure projects primarily across the transportation, social, environmental and telecommunications sectors. With investments having a total project cost valued at over $10bn (as of 31/12/2023), Tikehau Star Infra is one of the leading infrastructure developers in the United States.

IREIT GLOBAL is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe, which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets.

The team

Frédéric Jariel

Co-head of Real Estate activity

Frédéric Jariel joined Tikehau Capital in 2014 and serves as Co-head of Real Estate activity. He was previously at Archon Group France, a subsidiary of Goldman Sachs, which he joined in 1996. There he held various positions at the European level. His latest appointments were as COO Europe and CEO of the French entity. He began his career with Coopers & Lybrand as an auditor.

Education: Chartered accountant

Pierre Vaquier

Co-Head of Real Estate
Chairman of Selectirente Supervisory Board

Pierre Vaquier joined Tikehau Capital in 2018 and currently serves as Co-head of Real Estate and Chairman of Selectirente Supervisory Board. Previously, Pierre was Chief Executive Officer of AXA Investment Managers which he founded. He started his career at Antin Gérance. He then worked at PARIBAS for 13 years where he successively served as Head of International Operations, Head of Merchant Banking Real Estate Activities for PARIBAS New York and Chief Executive Officer of PARIBAS Properties Inc.

Education: HEC Paris

Guillaume Arnaud

Chairman of Sofidy’s board

Guillaume Arnaud joined Tikehau Capital in 2007 and served as Chief Executive Officer of Tikehau Investment Management until 2019. He currently serves as Chairman of Sofidy’s board. Previously, he was at Caisse d’Epargne Group, the French savings bank, which he joined in 2000. He first served as a Strategic Business Analyst, and then as Director of Risk and Finance for its insurance division. He started his career in 1997 at Credit Lyonnais in London (convertible bonds securities). From there, he joined Ardent Software in Boston (USA) and then Vendome Luxury Group in Neuchatel (Switzerland).

Education: École Polytechnique; Ecole Nationale des Ponts et Chaussées; Collège des Ingénieurs.

Louis d’Estienne d’Orves

Chief Executive Officer of IREIT Global

Louis d’Estienne d’Orves joined Tikehau Capital in November 2018 as an Investment Executive Director in the Real Estate team. Louis brought over 14 years’ experience in Real Estate and previously spent 10 years working at AXA IM Real Assets, most recently as the Co-Head of European Transactions - Special Situations. In April 2020, Louis was appointed Chief Executive Officer of IREIT Global, the real estate investment trust listed in Singapore, of which Tikehau Capital is a significant shareholder.

Education: Paris Dauphine University

Jérôme Grumler

Managing Director at Sofidy

Jérôme Grumler serves as Managing Director at Sofidy. Jérôme began his career in advisory banking before joining the Mazars Group in 1998 as a financial auditor and then Manager in the Transaction Support department. In 2005, he joined Sofidy as Chief Financial Officer. In 2008, he also led Human Resources and administrative services before being appointed Deputy Chief Financial Officer in 2013 and then Deputy Chief Executive Officer where he focused on giving new impetus to real estate savings by combining long-term performance and positive impact in real economy.

Education: University Paris IX Dauphine, University Paris I Sorbonne

William A. Marino

Co-Founder and Chief Executive Officer of Tikehau Star Infra

William A. Marino is Co-Founder and Chief Executive Officer of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). Previously, he founded Allied North America, a construction-only brokerage in 1979, laying the foundation for what developed into the largest private construction surety and insurance brokerage in the United States. He is also Chairman of the Board of The Association for the Improvement of American Infrastructure (AIAI).

Education: The College of Insurance (Saint John’s University)

Jean-Marc Peter

Chief Executive Officer of Sofidy

Jean-Marc Peter is the Chief Executive Officer of the Sofidy group. He was previously Deputy CEO of Sofidy, which he joined in 2003, after having been in charge of the CNIT building at La Défense within the Vivendi group. He began his career in investment banking at BNP Paribas Australia and then at Eurofin Bank (formerly CCF).

Education: Civil engineer (French Ecole Nationale des Ponts et Chaussées), MBA (INSEAD).

Christophe Petit

Co-Founder and President of Tikehau Star Infra

"Christophe Petit is Co-Founder and President of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). He was previously an investment banker at Greenhill & Co., where he specialized in infrastructure financing transactions in the Americas. Prior to joining Greenhill, he was a Managing Director of the Infrastructure and Structured Finance team at Societe Generale. Before that, he worked with Dexia Credit Local and in the infrastructure financing department of the International Finance Corporation, the private arm of the World Bank Group in Washington, D.C.

Education: Ecole Nationale Superieure des Telecommunications de Paris, Paris Dauphine University"

Frédéric Jariel

Co-head of Real Estate activity

Frédéric Jariel joined Tikehau Capital in 2014 and serves as Co-head of Real Estate activity. He was previously at Archon Group France, a subsidiary of Goldman Sachs, which he joined in 1996. There he held various positions at the European level. His latest appointments were as COO Europe and CEO of the French entity. He began his career with Coopers & Lybrand as an auditor.

Education: Chartered accountant

Frédéric Jariel joined Tikehau Capital in 2014 and serves as Co-head of Real Estate activity. He was previously at Archon Group France, a subsidiary of Goldman Sachs, which he joined in 1996. There he held various positions at the European level. His latest appointments were as COO Europe and CEO of the French entity. He began his career with Coopers & Lybrand as an auditor.

Education: Chartered accountant

Pierre Vaquier

Co-Head of Real Estate
Chairman of Selectirente Supervisory Board

Pierre Vaquier joined Tikehau Capital in 2018 and currently serves in the non-salaried posts of Co-head of Real Estate and Chairman of the Sofidy and Selectirente Supervisory Boards. Previously, Pierre was Chief Executive Officer of AXA Investment Managers which he founded. He started his career at Antin Gérance. He then worked at PARIBAS for 13 years where he successively served as Head of International Operations, Head of Merchant Banking Real Estate Activities for PARIBAS New York and Chief Executive Officer of PARIBAS Properties Inc.

Education: HEC Paris

Pierre Vaquier joined Tikehau Capital in 2018 and currently serves in the non-salaried posts of Co-head of Real Estate and Chairman of the Sofidy and Selectirente Supervisory Boards. Previously, Pierre was Chief Executive Officer of AXA Investment Managers which he founded. He started his career at Antin Gérance. He then worked at PARIBAS for 13 years where he successively served as Head of International Operations, Head of Merchant Banking Real Estate Activities for PARIBAS New York and Chief Executive Officer of PARIBAS Properties Inc.

Education: HEC Paris

Guillaume Arnaud

Chairman of Sofidy’s board

Guillaume Arnaud joined Tikehau Capital in 2007 and served as Chief Executive Officer of Tikehau Investment Management until 2019. He currently serves as Chairman of Sofidy’s board. Previously, he was at Caisse d’Epargne Group, the French savings bank, which he joined in 2000. He first served as a Strategic Business Analyst, and then as Director of Risk and Finance for its insurance division. He started his career in 1997 at Credit Lyonnais in London (convertible bonds securities). From there, he joined Ardent Software in Boston (USA) and then Vendome Luxury Group in Neuchatel (Switzerland).

Education: École Polytechnique; Ecole Nationale des Ponts et Chaussées; Collège des Ingénieurs.

Guillaume Arnaud joined Tikehau Capital in 2007 and served as Chief Executive Officer of Tikehau Investment Management until 2019. He currently serves as Chairman of Sofidy’s board. Previously, he was at Caisse d’Epargne Group, the French savings bank, which he joined in 2000. He first served as a Strategic Business Analyst, and then as Director of Risk and Finance for its insurance division. He started his career in 1997 at Credit Lyonnais in London (convertible bonds securities). From there, he joined Ardent Software in Boston (USA) and then Vendome Luxury Group in Neuchatel (Switzerland).

Education: École Polytechnique; Ecole Nationale des Ponts et Chaussées; Collège des Ingénieurs.

Louis d’Estienne d’Orves

Chief Executive Officer of IREIT Global

Louis d’Estienne d’Orves joined Tikehau Capital in November 2018 as an Investment Executive Director in the Real Estate team. Louis brought over 14 years’ experience in Real Estate and previously spent 10 years working at AXA IM Real Assets, most recently as the Co-Head of European Transactions - Special Situations. In April 2020, Louis was appointed Chief Executive Officer of IREIT Global, the real estate investment trust listed in Singapore, of which Tikehau Capital is a significant shareholder.

Education: Paris Dauphine University

Louis d’Estienne d’Orves joined Tikehau Capital in November 2018 as an Investment Executive Director in the Real Estate team. Louis brought over 14 years’ experience in Real Estate and previously spent 10 years working at AXA IM Real Assets, most recently as the Co-Head of European Transactions - Special Situations. In April 2020, Louis was appointed Chief Executive Officer of IREIT Global, the real estate investment trust listed in Singapore, of which Tikehau Capital is a significant shareholder.

Education: Paris Dauphine University

Jérôme Grumler

Managing Director at Sofidy

Jérôme Grumler serves as Managing Director at Sofidy. Jérôme began his career in advisory banking before joining the Mazars Group in 1998 as a financial auditor and then Manager in the Transaction Support department. In 2005, he joined Sofidy as Chief Financial Officer. In 2008, he also led Human Resources and administrative services before being appointed Deputy Chief Financial Officer in 2013 and then Deputy Chief Executive Officer where he focused on giving new impetus to real estate savings by combining long-term performance and positive impact in real economy.

Education: University Paris IX Dauphine, University Paris I Sorbonne

Jérôme Grumler serves as Managing Director at Sofidy. Jérôme began his career in advisory banking before joining the Mazars Group in 1998 as a financial auditor and then Manager in the Transaction Support department. In 2005, he joined Sofidy as Chief Financial Officer. In 2008, he also led Human Resources and administrative services before being appointed Deputy Chief Financial Officer in 2013 and then Deputy Chief Executive Officer where he focused on giving new impetus to real estate savings by combining long-term performance and positive impact in real economy.

Education: University Paris IX Dauphine, University Paris I Sorbonne

William A. Marino

Co-Founder and Chief Executive Officer of Tikehau Star Infra

William A. Marino is Co-Founder and Chief Executive Officer of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). Previously, he founded Allied North America, a construction-only brokerage in 1979, laying the foundation for what developed into the largest private construction surety and insurance brokerage in the United States. He is also Chairman of the Board of The Association for the Improvement of American Infrastructure (AIAI).

Education: The College of Insurance (Saint John’s University)

William A. Marino is Co-Founder and Chief Executive Officer of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). Previously, he founded Allied North America, a construction-only brokerage in 1979, laying the foundation for what developed into the largest private construction surety and insurance brokerage in the United States. He is also Chairman of the Board of The Association for the Improvement of American Infrastructure (AIAI).

Education: The College of Insurance (Saint John’s University)

Jean-Marc Peter

Chief Executive Officer of Sofidy

Jean-Marc Peter is the Chief Executive Officer of the Sofidy group. He was previously Deputy CEO of Sofidy, which he joined in 2003, after having been in charge of the CNIT building at La Défense within the Vivendi group. He began his career in investment banking at BNP Paribas Australia and then at Eurofin Bank (formerly CCF).

Education: Civil engineer (French Ecole Nationale des Ponts et Chaussées), MBA (INSEAD).

Jean-Marc Peter is the Chief Executive Officer of the Sofidy group. He was previously Deputy CEO of Sofidy, which he joined in 2003, after having been in charge of the CNIT building at La Défense within the Vivendi group. He began his career in investment banking at BNP Paribas Australia and then at Eurofin Bank (formerly CCF).

Education: Civil engineer (French Ecole Nationale des Ponts et Chaussées), MBA (INSEAD).

Christophe Petit

Co-Founder and President of Tikehau Star Infra

"Christophe Petit is Co-Founder and President of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). He was previously an investment banker at Greenhill & Co., where he specialized in infrastructure financing transactions in the Americas. Prior to joining Greenhill, he was a Managing Director of the Infrastructure and Structured Finance team at Societe Generale. Before that, he worked with Dexia Credit Local and in the infrastructure financing department of the International Finance Corporation, the private arm of the World Bank Group in Washington, D.C.

Education: Ecole Nationale Superieure des Telecommunications de Paris, Paris Dauphine University"

"Christophe Petit is Co-Founder and President of Tikehau Star Infra (formerly known as "Star America Infrastructure Partners"). He was previously an investment banker at Greenhill & Co., where he specialized in infrastructure financing transactions in the Americas. Prior to joining Greenhill, he was a Managing Director of the Infrastructure and Structured Finance team at Societe Generale. Before that, he worked with Dexia Credit Local and in the infrastructure financing department of the International Finance Corporation, the private arm of the World Bank Group in Washington, D.C.

Education: Ecole Nationale Superieure des Telecommunications de Paris, Paris Dauphine University"

Our investment portfolio

Selection of portfolio companies

Gentauro

Investment date : 12/2023
Job : Real Assets
Country : Spain

Acquisiton of a granular residential-led portfolio distributed throughout Spain with a significant discount to market value. The portfolio is composed of 1,316 residential units, 91 commercial units, 103 annexes & 279 parking spots, in growing central and coastal areas. The assets were cherry picked considering their liquidity and with a 54% concentration in Madrid, Catalunia, and Anadalucia regions.

Heart of Porto (HOP)

Investment date : 07/2023
Job : Real Assets
Country : Portugal

Heart of Porto shopping center currently covers more than 24,950 sqm of retail. The property is located in Porto downtown, the city's busiest area with strong transportation links. The strategy entails the full redevelopment into a mixed-use office and retail asset in order to meet the needs of a fast-growing business and retail district. The asset reconversion will aim to achieve the highest of ESG standards.

Green Center

Investment date : 07/2023
Expertise : Real Assets
Country : Spain

Creation of a high quality refurb-to-rent residential platform, by acquiring vacant and dated units within Madrid's M-30 ring. Carried out as a JV with Almond and Elix, the target is to acquire c. 12 units each month to reach 400 units by Y3 and exit with a sale of the stabilized platform.

Optimo 5 -Flash

Investment date : 04/2023
Expertise : Real Assets
Country : France

A mixed-use portfolio of 130 office and light industrial assets located throughout France, representing around 263,000 m² occupied by EDF Group companies.

Fray Luis de Leon 18

Investment date : 01/2023
Expertise : Real Assets
Country : Spain

Acquisition of a fully refurbished residential building in Madrid's city centre comprised of 45 units (c.2,650 sqm including common residential areas) and 2 retail units (c.425 sqm). The management of the residential units is agreed under contract with an international leasing operator - BOB W.

Hotel California

Investment date : 01/2023
Expertise : Real Assets
Country : France

Acquisition of the 4* Hotel California in the 8th arrondissement of Paris (75), through the second vintage of Tikehau Capital's pan-European value-add real estate impact strategy.

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