Tikehau Capital and ex-Unicredit Mustier among four to sponsor new SPAC
French asset management company Tikehau Capital is partnering with Financière Agache, ex-Unicredit chairman Jean-Pierre Mustier and Diego De Giorgi to sponsor a Special Purpose Acquisition Company (SPAC) focused on the European financial services sector.
Mustier and De Giorgi will be the operating partners of the company while Financière Agache and Tikehau Capital, as strategic and financial sponsors, will bring resources and support to the SPAC. Mustier already worked with Tikehau Capital, having been a partner of the firm from January 2015 to July 2016. He has worked with Diego De Giorgi at Unicredit on mergers and acquisitions and capital markets transactions for over a decade. Financière Agache and Tikehau Capital’s founders and investment teams have already collaborated on several deals across various strategies and sectors. Morever, an affiliate of Financière Agache has been a shareholder of Tikehau Capital for the last 15 years.
In a statement, the quartet said targets will be aligned to four financial services areas undergoing an accelerated transformation; namely traditional and alternative asset management platforms, innovative financial technology firms, insurance and insurance related services as well as diversified financial services companies with strong customer propositions in attractive segments.
The four sponsors said they plan to invest collectively a minimum of 10% of the initial amount raised and to commit to enter into a substantial forward purchase agreement.