STAR AMERICA ENTERS IN EXCLUSIVE DISCUSSIONS WITH TIKEHAU CAPITAL
May 14, 2020
(New York, NY) – Star America is announcing today the entry into exclusive discussions to be acquired by Tikehau Capital, the alternative asset management and investment group. Founded in 2004 by two entrepreneurs, Tikehau Capital has gone through an impressive growth over the years to become a global platform with 530 employees in 11 countries and $27.5 billion (€25.4bn) of assets under management.1
Star America believes that upon consummating this acquisition by such a leading and renowned player in the field of asset management, Star America will strengthen its ability to deploy capital in the much-needed US infrastructure market and to continue executing on its mission to become the preferred partner in rebuilding America’s infrastructure. The parties anticipate that Star America will continue to operate as a separate business within the Tikehau Group and that no changes will be made to Star America’s personnel.
Tikehau Capital and Star America believe that the market for infrastructures in the U.S. holds real long-term growth potential. According to the Council on Foreign Relations, the United States only spent 2.4% of the GDP on infrastructure, while European countries spend 5% of their GDP. In that respect, American government officials have recently signalled an intention to pursue investment plans which would reach about $2 trillion in order to upgrade and build infrastructures throughout the country.
Thanks to the acquisition of a renowned player in the field of infrastructure asset management in the United States, Tikehau Capital would strengthen its expertise in infrastructure assets, beyond its recognized know-how in real estate. Thus, this transaction would allow the Group to diversify its subsidiaries to a new growing asset class, as well as enhancing its geographic footprint in North America.
Bill Marino, co-founder, Managing Partner and Chief Executive Officer, and Christophe Petit, co-founder, Managing Partner and President of Star America, said “Star America is delighted to join forces with such an impressive group like Tikehau Capital. Star America will add infrastructure and real assets as a new core competency to Tikehau Capital’s already stellar and global platform. Infrastructure and real assets are one of the fastest asset class in the asset management business and we look forward to contributing to Tikehau’s development plans in the space.”
Mathieu Chabran, co-founder of Tikehau Capital, and Tim Grell, head of Tikehau Capital North America, added: “This proposed acquisition of Star America Infrastructure Partners is a new step towards the development of Tikehau Capital in North America and will strengthen our expertise in the management of real estate and infrastructure assets. We are delighted to be able to consider this acquisition, in a sector with real growth potential, of a player with the same entrepreneurial DNA as Tikehau Capital and whose founding team will significantly strengthen the Group’s know-how.”
The full terms and conditions remain subject to discussion and the transaction, if and when signed, will be subject to closing conditions.
About Star America Infrastructure Partners
Star America is an independent U.S. headquartered developer and manager of infrastructure assets in North America. Star America manage capital from U.S. labor pensions, insurance companies, asset managers, regional construction companies, and high-net-worth individuals, among others. Star America focuses on delivering infrastructure projects primarily across the transportation, social, environmental, and telecommunications sectors. Star America have over $700+ million Assets Under Management and our track record includes investments in 14 infrastructure assets, which have a total project cost valued at greater than $5 billion. Star America’s mission is to become the preferred partner in rebuilding America’s infrastructure.
About Tikehau Capital
Tikehau Capital is an asset management and investment group with $27.5 billion (€25.4 billion) of assets under management (as at 31 March 2020) and shareholder equity of $3.4 billion (€3.1 billion) (as at 31 December 2019). The Group invests in various asset classes (private debt, real estate, private equity and capital markets strategies) including through its asset management subsidiaries on behalf of institutional and private investors. Controlled by its managers alongside leading institutional partners, Tikehau Capital employs more than 530 staff (at 31 December 2019) in its Paris, London, Amsterdam, Brussels, Luxembourg, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris. Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com
Press contacts:
Star America Infrastructure Partners, LLC:
Christophe Petit – + 1 516 882 4100
cpetit@starinfrapartners.com
Tikehau Capital:
Valérie Sueur – +33 1 40 06 39 30
USA – Prosek Partners: Trevor Gibbons – +1 646 818 9238
press@tikehaucapital.com
Disclaimer
The term sheet relating to the proposed acquisition that the parties have signed is non-binding with respect to the terms of the transaction and there can be no assurance that such discussions will result in an agreement or, if an agreement is signed, that it will be consummated.
This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.
FOR INQUIRIES:
Christophe Petit, President
Star America Infrastructure Partners, LLC
Tel: +1 516 882 4100
cpetit@starinfrapartners.com
ABOUT STAR AMERICA
Star America, a subsidiary of Tikehau Capital, a European listed asset management and investment group with€27.2 billion of assets under management (as at 30 September 2020) and shareholder equity of €2.8 billion (as at 30 June 2020), is a U.S. headquartered developer and manager of infrastructure assets in NorthAmerica. With an investor base that includes large institutional investors such as insurance companies and pension funds, among others, Star America focuses on delivering infrastructure projects primarily across the transportation, social, environmental and telecommunications sectors. As of September 30,2020, Star America has over $700+ million Assets Under Management and our track record includes investments in 15 infrastructure assets, which have a total project cost valued at greater than $5 billion. Star America’s mission is to become the preferred partner in rebuilding America’s infrastructure.
