Tetragon Financial Group

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Tetragon Financial Group
TypePublic
LSETFG
Euronext AmsterdamTFG
ISINGG00B1RMC548
IndustryFinancial services
FoundedJune 23, 2005; 17 years ago (June 23, 2005)
FounderPaddy Dear
Reade Griffith
Headquarters,
ProductsInvestments
AUM$37.5 billion (Q2 2022)
Websitewww.tetragoninv.com

Tetragon Financial Group Limited ("TFG") is a closed-ended investment company which is traded on the Euronext exchange in Amsterdam and on the Specialist Fund Segment of the main market of the London Stock Exchange.[1] The firm's strategy is to provide stable returns to its investors through a wide range of credit, equity, interest rate and real estate cycles.[2] Tetragon invests in a broad range of assets, including public and private equities and credit (including distressed securities and structured credit), convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business.[3] The company's investment manager is Tetragon Financial Management LP ("TFM").[2][4] TFG's Polygon business is a member of SBAI (the "Standard Board for Alternative Investments"), and AIMA ("Alternative Investment Management Association").[5] TFG was founded on June 23, 2005.[6][7][8]

History[edit]

Tetragon Financial Group was founded in 2005.[6] It is registered in Saint Peter Port, Guernsey in the Channel Islands and headquartered in the United Kingdom.[9] In 2007, TFG went public with an IPO, selling at $10/share, as an Amsterdam-listed closed-end investment company on Euronext.[10] In 2010, Tetragon acquired Lyon Capital Management LLC (“LCM”)[11] and established a joint venture with John Carrafiell, Sonny Kalsi and Fred Schmidt of GreenOak Real Estate.[12] In October 2012, TFG purchased Polygon Management[13] (“Polygon”). In 2013, Polygon was listed as one of the 50 largest hedge fund managers in Europe by The Hedge Fund Journal.[14] In 2014, Tetragon acquired Equitix,[15] an investor, developer and long-term fund manager of infrastructure and energy-efficiency assets in the UK. Equitix has raised £4.7 billion of equity, including managed accounts.[16] In 2015, Tetragon established Tetragon Credit Partners; an asset manager.[17] Also in 2015, Hawke's Point, an asset management company focused on the mining and resource sectors, was formed under the TFG Asset Management umbrella.[18] In 2019, the GreenOak real estate joint venture was merged with Bentall Kennedy to create a $47 billion global real estate platform called BentallGreenOak; Tetragon remains an investor in the business.[19]

Leadership[edit]

Tetragon's investment manager is Tetragon Financial Management (TFM). TFM's investment committee includes Reade Griffith, Paddy Dear and Stephen Prince, the head of TFG Management.[20]

Business Model[edit]

TFG has an investment portfolio with a NAV of $1.8 billion.[21] TFG Asset Management consists of three main investment managers: the Polygon Global Partners $1.4 billion; LCM, a $4.9 billion CLO manager; and GreenOak, a real estate investment firm managing $4.1 billion.[22]

Awards[edit]

Year Award Category Source
2019 EuroHedge Event Driven [23]
2017 EuroHedge Convertible & Volatility [24]
2016 Alt Credit Intelligence European Performance Convertibles [25]
2016 Alt Credit Intelligence European Performance Firm of the Year (Polygon) [25]
2016 EuroHedge Convertible & Volatility [26]
2015 HFMWeek Relative Value [27]
2014 EuroHedge Convertible & Volatility [28]

Environmental, Social and Governance (ESG) policy[edit]

The investment manager of Tetragon is TFM, which is responsible for Tetragon's ESG policy. Tetragon takes into consideration ESG information when considering investments along with other economic and financial data.[29]

Legal Action[edit]

In July 2011, Daniel Silverstein, a shareholder of TFG, sued the firm. The suit was later dismissed in February, 2012.[30] In June 2013, Omega Overseas Partners filed a lawsuit against the firm. On August 7, 2014, in an opinion by Judge Richard J. Sullivan, the Court dismissed the Action in its entirety.[31]

External links[edit]

References[edit]

  1. ^ "Tetragon Fin Grp: Company Profile". Euronext. 23 April 2020. Retrieved 23 April 2020.
  2. ^ a b "Tetragon Financial Group Ltd". Financial Times. 22 April 2020. Retrieved 23 April 2020.
  3. ^ GmbH, finanzen net. "Tetragon Financial Group Limited Investor Day Cancellation and Investor Update Call | Markets Insider". markets.businessinsider.com. Retrieved 2020-04-23.
  4. ^ Editorial, Reuters. "TGONF.PK - Profile | Reuters". www.reuters.comundefined. Retrieved 2020-04-23.[dead link]
  5. ^ "2018 Annual Report" (PDF). 31 December 2018. p. 72. Retrieved 23 April 2020.
  6. ^ a b "Tetragon Financial Group Ltd". Wall Street Journal. Retrieved 3 July 2014.
  7. ^ "Tetragon Financial Group Ltd". www.barrons.com. 21 April 2020. Retrieved 2020-04-23.
  8. ^ "TGONF - Tetragon Financial Group Ltd Company Profile - CNNMoney.com". money.cnn.com. Retrieved 2020-04-23.
  9. ^ "Tetragon FIN GRP". Euronext. Retrieved 3 July 2014.
  10. ^ Jones, Sam. "Polygon lists as part of reverse takeover". The Financial Times. Retrieved 3 July 2014.
  11. ^ "Tetragon Financial Group Acquires Lyon Capital Management". Seward & Kissel. Retrieved 3 July 2014.
  12. ^ "Tetragon Financial Group invests in GreenOak Real Estate". Property Funds World. Advent. 2 August 2010. Retrieved 3 July 2014.
  13. ^ "Polygon bought by its listed affiliateTetragon for $99 million". EuroHedge. Hedge Fund Intelligence. November 1, 2012. Retrieved 3 July 2014.
  14. ^ "Europe 50 2013:Europe's Largest Single Managers Ranked by AUM" (PDF). The Hedge Fund Journal. Retrieved 3 July 2014.
  15. ^ Gourntis, Kalliope (24 October 2014). "Tetragon to acquire Equitix for £160m". Infrastructure Investor. Retrieved 23 February 2020.
  16. ^ "Equitix: About Us". Equitix. Retrieved 23 February 2020.
  17. ^ "TFG Asset Management broadens its structured credit investing business". Privateequitywire. 27 September 2019. Retrieved 23 February 2020.
  18. ^ "Hawke's Point Holdings L.P. Makes Investment in Capricorn Metals". Market Watch. 22 May 2017. Retrieved 23 February 2020.
  19. ^ Musah Baba, Razak (19 December 2018). "Bentall Kennedy and GreenOak merger creates $47bn global real estate platform". IP&E Real Assets. Retrieved 23 February 2020.
  20. ^ "Tetragon Financial Group" (PDF). Edison. 9 April 2018. Retrieved 25 May 2020.
  21. ^ "Tetragon Financial Group Limited (TFG) Monthly Update for April 2014". Yahoo Finance. May 29, 2014. Retrieved 3 July 2014.
  22. ^ "Tetragon Financial Group Limited Performance Report for Period Ended 31 March 2014". PR Newswire. Retrieved 3 July 2014.
  23. ^ "Polygon European Equity Opportunity Fund Wins 2019 EuroHedge Event Driven Award". finance.yahoo.com. Retrieved 2020-04-19.
  24. ^ GmbH, finanzen net. "Polygon Convertible Opportunity Fund Wins Eurohedge Convertibles & Volatility Award For The Fifth Time | Markets Insider". markets.businessinsider.com. Retrieved 2020-04-19.
  25. ^ a b Limited, Tetragon Financial Group. "Polygon Wins Manager of the Year and Convertible Fund of the Year". www.prnewswire.co.uk. Retrieved 2020-04-19.
  26. ^ Limited, Tetragon Financial Group. "Polygon Convertible Opportunity Fund Wins Eurohedge Convertibles & Volatility Award For The Fourth Time". www.prnewswire.com. Retrieved 2020-04-19.
  27. ^ "2015 HFMWeek Award Winner - Relative Value". Polygon. 2015-04-16. Retrieved 2020-04-19.
  28. ^ "EuroHede Awards 2013". Hedge Fund Intelligence. Retrieved 3 July 2014.
  29. ^ "Environmental, Social and Governance". www.tetragoninv.com. Retrieved 2020-08-30.
  30. ^ "Silverstein ex rel. Tetragon Fin. Grp. Ltd. v. Knief". Case Text. 14 February 2012. Retrieved 3 July 2014. “Therefore, the defendants' motions to dismiss are granted and the Complaint is dismissed in its entirety with prejudice.”
  31. ^ Hurtado, Patricia. "Omega's Tetragon Lawsuit Over Polygon Deal Thrown Out". Bloomberg. Retrieved 20 October 2014.