Ace Aero Partenaires reaches €630m first close

The fund is targeting €1bn and is backed by institutional investors, aerospace corporates and the French state. The initiative was announced in June by the French Finance Ministry.

Ace Management was selected to manage the fund following a tender process initiated by the corporates backing the fund.

Tikehau acquired private equity firm Ace Management for an enterprise value of €6.5m in 2018. Ace's investors are primarily major international groups, operating across the aerospace and defence industries. The company manages three main categories of funds on behalf of its clients: Aerofund (aerospace), Brienne (defence and security) and Atalaya (maritime).

Investors
Airbus, Safran, Dassault and Thales have jointly committed a total of €200m to the fund. The French state confirmed its pledge of €200m, with €50m coming from BPI France.

Tikehau invested €230m from its own funds in Ace Aero Partenaires at first close.

Investments
The fund's aim is to support, reorganise and ultimately strengthen the aerospace supply chain, currently badly affected by the coronavirus pandemic.

People
Ace Management – Guillaume Benhamou (managing partner).

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