Mathieu Chabran
Co-Founder, Tikehau Capital · 1 appearance on the record.
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Mathieu Chabran is the co-founder of Tikehau Capital, a global alternative asset manager founded in 2004. He previously worked in real estate debt and high-yield capital markets at Deutsche Bank and Merrill Lynch.
24statements → 10claims → 6claims resolved → 83%fully supported → 3.83/5average certainty → 1.83/5average debate potential → ≈4.5/5argument clarity, estimated →
5 supported 0 partly supported 1 contradicted 4 not checkable as stated how the 10 claims stand · each chip opens the sources
1 prediction · 9 assertions · 4 opinions · 5 insights · 5 disclosures · every statement was checked. The prediction and assertions are the 10 claims: statements the public record can support or contradict. 6 are resolved, and 4 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.
The record, in short
What the tape says about how Mathieu argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.
Their most notable supported claim
Chabran: Tikehau Capital launched with €4M, including €400K of co-founders' capital
“We started with friends and family, you know, putting together four million euros. And it's obviously a tiny in the scope of things when you start, you know, this business, but we went all in as far as we were concerned. The small bonuses, you know, we had the…”
Their most notable contradicted claim
Chabran: Tikehau Ranks Among Top Five Global Asset Managers by Equity Base
“If you were to look at the equity base, I'm not talking the market cap, right? I'm looking at the odd equity base that TKO is benefiting from. You'd be surprised to see that we rank within the top five of the global asset manager, albeit with a much smaller AU…”
How they sound: not measured why? →
We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Mathieu Chabran on measured tape to publish a rate. This says nothing about how they speak.
Everything Mathieu Chabran said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →
Chabran: Carried interest is a cheap alignment option versus real sweat equity
“We all know that the alternative markets have generated this optionality, which will be by way of carried interest, incentive fees, that people would put as a The alignment of interest, I actually think, you know, it's a fairly cheap option compared to any oth…”
Chabran: Asset managers remaining largest shareholder eliminates incentive distortions
“And by remaining the largest shareholder here, we had created what I think is the perfect alignment of interest, where effectively not only you put your money where your mouth is, But you know that you do not create some kind of distortion of interest that som…”
Chabran: In European private markets, 'good deals have no wheels'
“We have a saying at TKO, we like to say, good deals have no wheels. And by the time the opportunity hits, you know, some investment banker's desk, you know, in London, a lot of smart people on the ground have seen the opportunity.”
Mathieu Chabran: Generating Returns Was Rolling Double Sixes Last Decade
“We're just coming out a 10 years period where, no offense, but it was easy to generate some performance when you are throwing the dices and it's double six all the time.”
Chabran: Financial services has very few entrepreneurs, especially in Europe
“There are actually very little and very few entrepreneurs, you know, in the financial services business, and probably even more so in Europe.”
Chabran: Small emerging funds cannot overcome traditional institutional consultant diligence
“When we started, you know, these four million euros were effectively an evergreen structure that we grew over time, you know, not only by the income that the deal we made and the successful deal, you know, we exited and contributed to the earning, but then we …”
Chabran: Tikehau Ranks Among Top Five Global Asset Managers by Equity Base
“If you were to look at the equity base, I'm not talking the market cap, right? I'm looking at the odd equity base that TKO is benefiting from. You'd be surprised to see that we rank within the top five of the global asset manager, albeit with a much smaller AU…”
Chabran: GP-LP Balance Sheet Co-Investment Is the Asset Management Model of the Future
“And I really believe that it's certainly the model of the future where people will be looking for an increased alignment between the LPs and the GPs.”
Chabran: European infra debt makes little sense versus US mid-market infra equity
“An infrastructure debt product, at least in Europe, which is very competitive with the European banks, does not really make sense. But, you know, expanding into the equity infrastructure in the U.S., in the mid-market, then it makes, you know, potentially a lo…”
Chabran: Global managers retreated from Europe after the 2012 sovereign crisis
“What I saw in 2012 without being judgmental to our friends and colleagues is on the back of the sovereign crisis, a lot of the global champions, they decided to pack and go, you know, for a few years, they were gone. They were gone, you know, Euro uncertainty …”
Chabran: Tikehau centralizes all investment decisions rather than granting local checkbooks
“The very important point is that there are no individual checkbooks, if I may say, where teams effectively would make decision on their own. All that is centralized from an IC standpoint.”
Chabran: Junior investment team members should speak first to avoid bias
“I'm co-CIO. I remain co-CIO of the group, and over the years, I've learned to ask sometimes the most junior team member to speak up first, okay? Because otherwise, it's just his or her judgments, you know, get biased because someone, you know, Talks louder tha…”
Chabran: European direct lending expansion deteriorated structures and collateral packages
“Direct lending in Europe has been lagging relative to the U S in terms of development. And then it picked up over the past few years. And then we starting seeing some very deteriorated, structure, collateral package, security package, leverage pricing.”
Chabran: Investors should optimize liabilities, not dictate operational management
“Those guys, they know how to manage the company. I'm not there to tell them how to manage this company. We would be qualified for that, but we can help them manage the liability side of their company. That's where we can provide By being principal investors, y…”
Mathieu Chabran: Risking Kids' Money Separates True Entrepreneurs From Agents
“There are plenty of people ready to make money with someone else money, but only few ready to make money with their kids money. And that's what differentiate maybe an entrepreneur, you know, from just an agent.”
Chabran: Tikehau Capital launched with €4M, including €400K of co-founders' capital
“We started with friends and family, you know, putting together four million euros. And it's obviously a tiny in the scope of things when you start, you know, this business, but we went all in as far as we were concerned. The small bonuses, you know, we had the…”
Chabran: Tikehau's First Deal Was a €20M Paris Flea Market Acquisition
“We acquired as the very first deal, the flea market in the outskirts of Paris. Some of you may know, I mean, the antiques fan. It's a must. It's a little bit like the Portobello market in London. And you know, it was like call it a twenty million euro transact…”
Chabran: Tikehau kept its original multi-asset pitch from €4M to €26B AUM
“Today's, let's call it 25, twenty six billion AUM. But when we pull out our very first pitch, when we were managing four million, it was actually a few slides where we're saying we want to be exposed to credit, which is what we were coming from. We want to be …”
Chabran: Key leadership roles at Tikehau Capital are held by female partners
“All our top jobs, including CFOs, head of private debt, head of CLOs, head of various countries, are held by some of my female partners.”
Tikehau Capital kept portfolios historically underexposed to the UK market
“Despite, you know, having this strong presence in the UK, we have been historically extremely underexposed in the UK market. Nothing against the opportunity, but we had found the market way too crowded, and as a consequence to that, our private debt, our priva…”
Chabran: 80% of US Companies Use Non-Bank Financing Versus 20% in Europe
“The very fact that, you know, the numbers 80% of the companies are non-bank finance in the U.S., when in Europe, the contrary, it's 20%.”
Chabran: Lehman Brothers Held Single-A Rating Days Before Bankruptcy
“On Friday, September the 13th, 2008, Lehman Brothers were singly raided. On the Monday morning, it had defaulted, and that was the catalyst to, you know, a much wider situation.”
Appearances (1)
| Episode | Date | Speaking time |
|---|---|---|
| Mathieu Chabran – Good Deals Have No Wheels at Tikehau Capital (First Meeting, EP.23) | Oct 12, 2020 | 44m |