Tikehau Capital SCA Earnings Call Transcript
Hello, everybody. Good morning. Hope everybody is safe in this particular sanitary crisis. And thanks for attending our conference. I'm starting with Slide 4 on the Q1 2020 highlights.
We can say that we had solid momentum in a troubled context, EUR 25.4 billion of group AUM, which is 13.7% over 12 months and minus 1.5% over Q1. Asset management activities recorded plus EUR 500 million of net new money in Q1. Group fund recorded limited mark-to-market effect as a result of prudent capital deployment and an increased focus on long-term sustainable verticals. Fee-paying AUM base for closed-end funds was not impacted by market effects and trend slightly up at the end of 2020 versus end of the year.
With EUR 1.2 billion of cash on its balance sheet and EUR 5 billion of dry powder in its asset management, Tikehau Capital is particularly well positioned to navigate the current cycle. Finally, Tikehau Capital enters exclusive negotiation to acquire Star America Infrastructure Partner, an independent asset manager specialized in mid
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