“Tetragon’s investment objective is to generate distributable income and capital appreciation.”
Yuko Thomas
Head of Investor Relations
Investment strategy
To achieve this objective, Tetragon’s investment strategy is to invest primarily in alternative assets and strategies, both by partnering with asset managers who offer differentiated expertise and by making direct, idiosyncratic investments.
In addition to investing with external managers, Tetragon invests with and in the managers on its diversified asset management platform, Tetragon Partners. Through the platform, Tetragon invests in a range of underlying strategies – often alongside other investors – and, when appropriate, also aims to realise the value of its ownership stakes, or GP stakes, in these businesses.
The ways we invest
Our investment strategy leads us to invest in three primary ways:
Funds managed by Tetragon Partners
We invest as an LP in a range of specialised strategies managed by Tetragon Partners asset managers, with a view to obtaining diversified returns on favourable terms. In so doing, Tetragon aims to not only produce asset-level returns, but also to enhance these returns with fee income from external investors through its GP ownership stakes in these businesses. Tetragon is also the only, or the lead, LP investor in a number of these strategies.
Externally-managed funds
We invest with third-party managers – without taking a GP ownership stake – to access asset classes and investment strategies beyond those on the Tetragon Partners platform, using our experience to select managers and invest on favourable terms.
One of Tetragon’s largest investments is Tetragon Partners, which manages, oversees and supervises our majority and minority GP stakes in asset management companies. In addition to investing as an LP in some of the strategies managed by Tetragon Partners asset managers, Tetragon aims to realise, where appropriate, the value of its GP stakes in these businesses, whether through strategic transactions or dispositions.
Through Tetragon Partners, Tetragon buys, launches and builds asset management businesses. Depending on the circumstances, Tetragon can provide working capital, co-investment capital and/or operating infrastructure – encompassing critical business management functions such as risk management, business development, investor relations, financial control, technology, and compliance/legal matters – supporting long-term value creation while enabling entrepreneurial independence for the CIOs of these businesses.
We make direct investments from our balance sheet, targeting idiosyncratic opportunities that are typically single-strategy ideas, opportunistic and catalyst driven. These range from listed instruments to private investments and cover a broad range of assets. The breadth and diversity of our LP investments in managed funds, including through Tetragon Partners, also creates co-investment opportunities and ideas which we may develop as direct investments.
“Our GP ownership stakes in asset management businesses through Tetragon Partners and our LP investments in many of its strategies have been powerful drivers of Tetragon’s performance. Through the growth of our GP stakes we benefit from diversified income streams, supporting performance across various economic and market conditions. We also benefit from access to underlying products and opportunities that we might not otherwise have. And we have been able to realise the value of GP stakes alongside their owners.”
Reade Griffith
Chief Investment Officer
Our alpha-driven platform generates ideas, expertise, insights and connections.
Ways we invest
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Welcome to Tetragon Financial Group Limited
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TERMS OF USE OF THIS WEBSITE
Compliance with Applicable Laws and Regulations
The information on this website is for information purposes only. It does not constitute an offer to sell any security or investment product, nor does it constitute professional advice. Any product and service mentioned in this website are not offered to any person or entity in any jurisdiction or country where the advertisement, offer, solicitation, provision or sale of such product and service is restricted or prohibited by law or regulation or where Tetragon or any of its respective affiliates would be subject to any regulation or licensing requirement.
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Restrictions on Ownership by U.S. Persons
Tetragon’s shares have not been and will not be registered under the United States Securities Act of 1933. Consequently, Tetragon shares may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, “U.S. persons” as defined in Regulation S under the Securities Act absent registration or an exemption from registration under the Securities Act. No public offering of any Tetragon shares is being, or has been, made in the United States.
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Ownership by Persons in Europe
Tetragon’s non-voting shares are not intended for European retail investors. Tetragon anticipates that its typical investors will be institutional and professional investors who wish to invest for the long term and who have experience in investing in financial markets and collective investment undertakings and are capable themselves of evaluating the merits and risks of Tetragon shares and who have sufficient resources both to invest in potentially illiquid securities and to be able to bear any losses (which may equal the whole amount invested) that may result from the investment.
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