Tetragon Financial Group


Tetragon Financial Group Limited 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. 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. Tetragon invests in a broad range of assets, including public and private equities and credit, convertible bonds, real estate, venture capital, infrastructure, bank loans and TFG Asset Management, a diversified alternative asset management business. The company’s investment manager is Tetragon Financial Management LP. TFG’s Polygon business is a member of SBAI, and AIMA. TFG was founded on June 23, 2005.

History

Tetragon Financial Group was founded in 2005. It is registered in Saint Peter Port, Guernsey in the Channel Islands and headquartered in the United Kingdom. In 2007, TFG went public with an IPO, selling at $10/share, as an Amsterdam-listed closed-end investment company on Euronext. In 2010, Tetragon acquired Lyon Capital Management LLC and established a joint venture with John Carrafiell, Sonny Kalsi and Fred Schmidt of GreenOak Real Estate. In October 2012, TFG purchased Polygon Management . In 2013, Polygon was listed as one of the 50 largest hedge fund managers in Europe by The Hedge Fund Journal. In 2014, Tetragon acquired Equitix, 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. In 2015, Tetragon established Tetragon Credit Partners; an asset manager. 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. 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.

Leadership

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

Business Model

TFG has an investment portfolio with a NAV of $1.8 billion. 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.

Awards

YearAwardCategorySource
2019EuroHedgeEvent Driven
2017EuroHedgeConvertible & Volatility
2016Alt Credit Intelligence European PerformanceConvertibles
2016Alt Credit Intelligence European PerformanceFirm of the Year
2016EuroHedgeConvertible & Volatility
2015HFMWeekRelative Value
2014EuroHedgeConvertible & Volatility

Corporate Responsibility

TFG is the largest contributor to BACIT, a UK investment vehicle that gives 1 percent of its NAV annually to charity; 50 percent to the Institute of Cancer Research and 50 percent to the BACIT Foundation.

Legal Action

In July 2011, Daniel Silverstein, a shareholder of TFG, sued the firm. The suit was later dismissed in February, 2012. 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.