Key metrics to assess our assets under management, income statement and balance sheet.
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Weighted average management fee rate
The weighted average management fee rate is an indicator that allows the Group to monitor the evolution of its revenue generation in relation to its assets under management. The solid increase in the weighted average management fee rate shows that the Group’s business mix is evolving towards more profitable asset classes.
Fee-related earnings
Fee-related earnings (FRE) correspond to the net operating profit of the asset management activity, excluding performance fees and carried interest and measure the profitability of the Group’s asset management activity solely in relation to management fees.
The strong growth in FRE reflects the significant operating leverage from which the Group has benefited, with revenues growing faster than the cost base.
Tikehau Capital’s objective is to reach more than €250m in FRE by 2026.
Investment portfolio
Tikehau Capital has built up a strong, balanced and diversified investment portfolio in terms of sector and geography, composed of assets with an attractive return potential. The assets of the Group's investment portfolio are classified in two categories: on the one hand, investments in strategies developed and managed by the Group (funds, co-investments, SPACs) and, on the other hand, ecosystem and direct investments (for example in funds managed by third parties).
As such, the Group invests consistently and as a priority within its own strategies. At the end of December 2023, 79% of the Group’s portfolio was invested in its strategies alongside its investor-clients. This guarantees a strong alignment of interests between Tikehau Capital and its investor-clients, and allows the Group to benefit from the performance of its funds and strategies.
Consolidated shareholders’ equity
A substantial and differentiating asset, the Group’s shareholders’ equity allows it to rapidly deploy new funds, accelerate investment in its platforms or strengthen them through external growth operations.
