Pegasus Asia, Tikehau Capital’s Third Sponsored SPAC1 and First SPAC Backed by International Sponsors to be Listed on the Singapore Exchange Securities Trading Limited (SGX-ST), Raises S$170 Million
PARIS–(BUSINESS WIRE)–Regulatory News:
Tikehau Capital (Paris:TKO), the global alternative asset management group, today announced that Pegasus Asia, its third sponsored SPAC globally and its first SPAC to be listed in Singapore has successfully raised S$170 million (equivalent to c. €111.2 million2) in its initial public offering.
Similar to Pegasus Europe and Pegasus Entrepreneurs launched in 2021, Pegasus Asia was launched by Tikehau Capital alongside co-sponsors Financière Agache, Jean-Pierre Mustier and Diego De Giorgi. The sponsors collectively have an extensive proprietary network and resources to search and evaluate targets.
Tikehau Capital and its co-sponsors were the only European sponsors to successfully launch two European SPACs in 2021. Pegasus Europe, which raised approximately €483.6 million in April, is among the largest European SPACs to date. In December 2021, Pegasus Entrepreneurs raised €210 million including an upsize of €10 million resulting from strong investor demand.
Pegasus Asia plans to focus on businesses in technology-enabled sectors, including but not limited to consumer-technology, financial technology, property-technology, insurance-technology, healthcare and medical technology, and digital services, primarily, but not exclusively, in Asia Pacific.
The gross proceeds of S$170 million raised from the initial public offering includes a S$22 million total investment from the Sponsors showing a strong alignment of interests with all shareholders. Pegasus Asia will start trading on the Main Board of the SGX-ST today.
Neil Parekh, head of Asia, Australia and New Zealand for Tikehau Capital will act as CEO of Pegasus Asia.
Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital said: “We are delighted with the resounding success of Pegasus Asia’s IPO and the strong response from investors. Tikehau Capital invests its own capital in each of its SPACs and as such, we believe that our investors interests are closely aligned with our own. SPACs are an efficient investment tool that align well with our core strategy. They provide an effective way of raising capital and investing in selected companies to finance their growth objectives. The Asian market has great potential; together with Financière Agache, we will leverage our global network and expertise in investing, diligence and capital raising in order to best identify Pegasus Asia’s target business in the technology-enabled sector and ensure its success. We would also like to thank the Monetary Authority of Singapore and the Singapore Exchange for welcoming our first SPAC in Asia. We expect to have more exciting projects to come in the region.”
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
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.
This document is not for release, distribution or publication, whether directly or indirectly and whether in whole or in part, in or into the United States, Canada, Australia or Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This document is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy any securities of PEACE in the United States, Canada, Australia or Japan or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction.
This media release is not an offer of securities for sale in the United States or elsewhere. The securities in Pegasus Asia are not being registered under the United States Securities Act of 1933, as amended (the Securities Act) and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the securities in Pegasus Asia in the United States. No money, securities or other consideration is being solicited by this communicated or the information contained herein and, if sent in response to this communication or the information contained herein, will not be accepted.
1 Special Purpose Acquisition Company
2 Based on a S$ / € exchange rate of 0.66 as at 20 January 2022.
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
SHAREHOLDER AND INVESTOR CONTACT:
Louis Igonet – +33 1 40 06 11 11