Tetragon Financial Group
{{Infobox company
| name = Tetragon Financial Group
| logo = Tetragon Financial Group.svg
| type = Public
| traded_as = {{lse|TFG}}
{{EuronextAmsterdam|TFG.NA|GG00B1RMC548|XAMS}}
| ISIN = {{ISIN|sl=n|pl=y|GG00B1RMC548}}
| industry = Investment Company
| founded = {{start date and age|23 June 2005}}
| founder = Paddy Dear
Reade Griffith
| hq_location_city = London
| hq_location_country = United Kingdom
| key_people =
| products = Investments
| revenue =
| aum = $42 billion (2023)
| assets = US$2.8 billion NAV{{Cite web|title=Tetragon Financial Group Ltd|url=https://www.hl.co.uk/shares/shares-search-results/t/tetragon-financial-group-ltd-usd0.001|date=20 March 2023}}
| assets_year = 2023
| num_employees =
| num_employees_year =
| website = {{URL|https://www.tetragoninv.com}}
}}
Tetragon Financial Group Limited (Tetragon) is a Guernsey closed-ended investment company founded in 2005. Its non-voting shares are traded on the Euronext exchange in Amsterdam and the Specialist Fund Segment of the main market of the London Stock Exchange.{{Cite web|url=https://live.euronext.com/en/product/equities/GG00B1RMC548-XAMS/company-information|title=Tetragon Fin Grp: Company Profile|last=|first=|date=23 April 2020|website=Euronext|access-date=23 April 2020}}
The firm's investment objective is to generate distributable income and capital appreciation, and it aims to provide stable returns to investors across credit, equity, interest rate, and inflation cycles.{{Cite web|url=https://markets.ft.com/data/investment-trust/tearsheet/profile?s=TFG:LSE|title=Tetragon Financial Group Ltd|last=|first=|date=22 April 2020|website=Financial Times|access-date=23 April 2020}} Tetragon's investment manager is Tetragon Financial Management (TFM).{{Cite web|title=Tetragon Financial Group Ltd|url=https://www.reuters.com/markets/companies/TFG.AS/|date=26 March 2023|website=reuters.com}} TFM's investment committee includes Reade Griffith, Paddy Dear and Stephen Prince, and CEO of TFG Asset Management.{{Cite web|title=Tetragon Financial Group|url=https://www.edisongroup.com/wp-content/uploads/2019/04/Tetragon-Financial-Group-Achieving-superior-returns-from-alternative-assets.pdf|last=|first=|date=9 April 2018|website=Edison|access-date=25 May 2020}} Tetragon has offices in London and New York.
History
Tetragon Financial Group was founded in 2005.{{cite web|title=Tetragon Financial Group Ltd.|url=http://quotes.wsj.com/NL/XAMS/TFG/company-people|website=Wall Street Journal|access-date=3 July 2014}} It is registered in Saint Peter Port, Guernsey, in the Channel Islands, and headquartered in the United Kingdom. In 2007, Tetragon went public with an IPO, selling at $10/share, as an Amsterdam-listed closed-end investment company on Euronext.{{cite web|last1=Jones|first1=Sam|title=Polygon lists as part of reverse takeover|url=http://www.ft.com/intl/cms/s/0/60f08fa4-21c5-11e2-b5d2-00144feabdc0.html?siteedition=intl#axzz35eZt4LlN|publisher=The Financial Times|access-date=3 July 2014}} In 2010, Tetragon acquired Lyon Capital Management LLC (LCM) and established a joint venture with John Carrafiell, Sonny Kalsi, and Fred Schmidt of GreenOak Real Estate. In October 2012, Tetragon purchased Polygon Management (Polygon). In 2013, The Hedge Fund Journal listed Polygon as one of the 50 largest hedge fund managers in Europe. In 2014, Tetragon acquired Equitix, an investor, developer, and long-term fund manager of infrastructure and energy-efficient assets in the UK. Equitix has more than $12 billion in assets under management.{{cite web |title=Equitix: About Us |url=https://equitix.co.uk/#aboutus |publisher=Equitix |access-date=23 February 2020}} 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.{{cite web|last1=Thompson|first1=Sarah|last2=Macdonald|first2=Anthony|last3=Boyd|first3=Tim|title=Brokers jostle to snare Hawke's Point's stake in tearaway gold play|url=https://www.afr.com/street-talk/brokers-jostle-to-snare-hawke-s-point-s-stake-in-tearaway-gold-play-20200617-p553d0|date=17 June 2020|website=Financial Review}} In 2019, the GreenOak real estate joint venture was merged with Bentall Kennedy to create what is, as of 31 December 2022, an $82.6 billion global real estate platform called BentallGreenOak;{{cite web|last=Read|first=Matthew|title=Tetragon Financial announces merger of its GreenOak Real Estate JV|url=https://quoteddata.com/2018/12/tetragon-financial-announces-merger-greenoak-real-estate-jv/|date=19 December 2018}}
Business model
Tetragon has an investment portfolio with an NAV of $2.8 billion.{{Cite web|title=Tetragon Financial Group|url=https://www.tetragoninv.com/}} TFG Asset Management is Tetragon's diversified asset management platform, and as of 31 December 2022 it had over $40 billion in Assets Under Management.{{Cite web|title=Tetragon Financial Group Portfolio|url=https://www.tetragoninv.com/portfolio/tfg-asset-management}} TFG Asset Management currently consists of nine asset managers, including Polygon,{{Cite web|title=TGF Polygon acquisition|url=https://thehedgefundjournal.com/news/tfg-polygon-acquisition/|date=29 October 2012|website=thehedgefundjournal.com}} Acasta Partners, LCM,{{Cite web|last=Perryman|first=Emily|title=Tetragon Financial to acquire Lyon Capital Management|url=https://institutionalassetmanager.co.uk/tetragon-financial-acquire-lyon-capital-management/|date= 17 November 2009|website=institutionalassetmanager.co.uk}} Equitix,{{Cite web|title=Tetragon Financial Group announces proposed acquisition of Equitix Holdings|url=https://www.reuters.com/article/tetragonfinancialgroup-brief-idINFWN0SH04Q20141023|date=23 October 2014|website=reuters.com}} and BentallGreenOak.{{Cite web|last=Segal|first=Julie|title=How Two Organizations Created One Active Real Estate Manager|url=https://www.institutionalinvestor.com/article/b1c9b4t0s8fh4l/How-Two-Organizations-Created-One-Active-Real-Estate-Manager|date=19 December 2018|website=institutionalinvestor.com}}
Legal action
In July 2011, Daniel Silverstein, a shareholder of Tetragon, sued the firm. The suit was later dismissed in February 2012.{{cite web|title=Silverstein ex rel. Tetragon Fin. Grp. Ltd. v. Knief|url=https://casetext.com/case/silverstein-ex-rel-tetragon-fin-grp-ltd-v-knief#.U7UWw7G8SYF|website=Case Text|access-date=3 July 2014|date=14 February 2012|quote=“Therefore, the defendants' motions to dismiss are granted and the Complaint is dismissed in its entirety with prejudice.”}} In June 2013, Omega Overseas Partners filed a lawsuit against the firm. On 7 August 2014, in an opinion by Judge Richard J. Sullivan, the Court dismissed the Action in its entirety.{{cite web|last1=Hurtado|first1=Patricia|title=Omega's Tetragon Lawsuit Over Polygon Deal Thrown Out|url=https://www.bloomberg.com/news/2014-08-08/omega-s-tetragon-lawsuit-over-polygon-deal-thrown-out.html|publisher=Bloomberg|access-date=20 October 2014}}
External links
- [http://www.tetragoninv.com www.tetragoninv.com]