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Tikehau Capital's CIO, Emmanuel Laillier, reported a surge in interest from limited partners in European defense investments following the Ukraine invasion, despite low competition and ongoing liquidity concerns. The firm is navigating regulatory complexities surrounding foreign direct investment in Europe while achieving record investment activity in 2025, including raising €1 billion for its Egis continuation fund. While optimistic about 2026, Tikehau acknowledges the persistent geopolitical risks and inflationary pressures affecting the market.