Tikehau Capital's 2024 report offers an in-depth analysis of the ongoing transformation of our economic model. We are witnessing a shift from a quest for infinite growth, made possible by historically low rates, to a model focused on resilience and local efficiency. This profound change is upending economic dynamics and investment strategies.
In their previous analysis in September 2023, Thomas Friedberger, Deputy Managing Director and Co-Chief Investment Officer (CIO), and Nina Majstorovic, Product Specialist, Capital Markets Strategies, anticipated four major consequences for 2024:
- The shift towards value creation focused on resilience rather than efficiency.
- A growing misalignment between central bank and government policies.
- An increase in the cost of capital and liquidity.
- Structurally higher risk premiums.
This year's report reassesses these expectations in the light of recent events, offering a critical analysis of their relevance and impact.
For 2025, Tikehau Capital highlights several key themes to watch:
- The increasing role of governments in the economy, accompanied by a sharp rise in capital spending worldwide.
- The continuation of de-globalization, with the Indo-Pacific zone emerging as a new engine of growth, redefining global economic poles.
- The impact of Artificial Intelligence, a revolutionary technology whose potential could transform economic and investment prospects, while warning against the risks of overvaluation linked to expectations of lower rates and enthusiasm for technological innovation.
The report also highlights the new investment opportunities offered by these developments, likely to play a crucial role in generating future performance.
For a full analysis of the impact of these changes on investment strategies, we invite you to consult Tikehau Capital's full report, available here.
This post was translated from the original French.