Tikehau Capital, in collaboration with Société Générale Assurances, CNP Assurances, and the CARAC Group, has launched a private equity fund aimed at strategic European sectors including defense, cybersecurity, and security. The fund, named Tikehau Défense et Sécurité (TDS), will be available as a unit-linked product in the partners’ life insurance and retirement offerings starting September 2025.
With an initial commitment of €150 million—equally contributed by the three insurers—the fund supports Europe’s push for strategic autonomy by investing in high-growth sectors such as aerospace and cybersecurity. These sectors often feature dual-use technologies (civilian and military), enhancing their resilience and innovation potential.
Structured as a Specialized Professional Fund under ELTIF 2.0, TDS will operate on an evergreen model with a 99-year lifespan, offering subscription/redemption every 15 days. It will initially be exclusive to the three partners for one year, with broader access to other insurers and professional investors from September 2026 onward.
Leveraging Tikehau Capital’s expertise and a team of 30 professionals, the fund will invest in private equity deals (including primary, secondary, and co-investments) and select private debt opportunities. The initiative also marks the first time a retail-accessible unlisted fund is fully dedicated to defense and security in Europe.
The fund has backing from the French Ministry of Defense and Armament Procurement Agency and reflects growing interest in aligning long-term savings with real economic impact. Executives from the partner firms emphasized the fund’s role in democratizing private market access, supporting European sovereignty, and expanding investment options for policyholders.
Source: Tikehau Capital
