Tikehau Capital Raises Over €1 Billion Continuation Fund for Decarbonisation Platform Egis

Tikehau Capital has launched a continuation fund for its decarbonisation-focused portfolio company Egis, raising more than €1 billion to support the French infrastructure and consulting company's next phase of global growth. Co-lead investors in the continuation fund include Apollo S3, a wholly owned subsidiary of the Abu Dhabi Investment Authority and Neuberger Berman.

Based in France, Egis designs, develops and operates smart infrastructure and buildings addressing climate change challenges across transport, cities and energy sectors. Tikehau originally acquired a controlling position in Egis from Caisse des Dépôts et Consignations in 2022 as the first investment in its decarbonisation strategy. Since then, Egis has surpassed €2.2 billion in annual revenue, exceeding its 2022 growth targets ahead of schedule. The continuation fund will support Egis' global expansion, particularly through strategic acquisitions, and includes additional subscription commitments to finance future capital increases.

Egis aims to double in size by 2028, with a strategic focus on building a platform in North America to match the scale of that market. The company's work spans smart infrastructure design, climate adaptation consulting, transport engineering and operational services, positioning it at the intersection of engineering expertise and decarbonisation demand. Tikehau's decarbonisation private equity strategy has now surpassed €2 billion in capital raised across its second vintage, achieving a fund size 1.5 times larger than its predecessor just one year after its first closing, reflecting strong institutional demand for climate-focused infrastructure investments.

The continuation fund structure enables existing investors to maintain exposure to Egis while bringing in new capital from institutional partners at current valuations, demonstrating strong ongoing confidence in the company's growth trajectory and decarbonisation thesis. For India, where infrastructure investment is scaling rapidly and where climate resilience and sustainable urban development are policy priorities, companies with Egis's combination of technical engineering capabilities and sustainability focus represent models for the kind of expertise that will be needed to deliver large-scale green infrastructure. The ADIA's co-investment reflects Gulf sovereign wealth funds' growing appetite for climate-aligned infrastructure assets.

Key figure — €2.2 billion in revenue surpassed by Egis last year; €1 billion raised in continuation fund