TFG Asset Management

Emily Cox, Business Development

TFG Asset Management enhances the value of each investment through a shared strategic direction and operating infrastructure – while giving entrepreneurial independence to the managers of the underlying businesses. The combination of relatively uncorrelated businesses across different asset classes and at different stages of development under TFG Asset Management is also intended to create a collectively more robust and diversified business and income stream.

2010
Launched
9
Asset managers
470
Employees
(Excluding BentallGreenOak)
$ 37 bn
Assets Under Management(9)

Delivering for Tetragon

Growth

Proven value creation

Access

Specialised products on favourable terms

Expertise

Insights from alternative asset managers

Diversification

Wide range of income streams

Our investment in TFG Asset Management has been a powerful driver of Tetragon’s performance. Through the growth of our investments in alternative asset managers, 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 may not otherwise have.

Reade Griffith

Chief Investment Officer

Meet Reade Griffith

Delivering for our managers

Infrastructure

High-quality support for niche and scalable businesses

Access to capital

Tetragon can seed business growth

Management expertise

Experienced, strategic insight

Connections

Access to relationships and information

TFG Asset Management enhances the value of each investment through a shared strategic direction and operating infrastructure – while giving entrepreneurial independence to the managers of the underlying businesses. We support both niche and scalable strategies, leveraging Tetragon’s long-term capital and our ecosystem of ideas, insights, connections and expertise.

Stephen Prince

Chief Executive Officer

Meet Stephen Prince

Philip Reyes, Technology Team

Our managers

All AUM data at 30 September 2022, unless otherwise noted.

Strategies

U.S. CLOs

Key Facts

2001
Founded

$12.2bn
AUM

LCM

LCM is a specialist in below-investment grade U.S. broadly-syndicated leveraged loans.

The business was established in 2001 and is based in New York.

Tetragon owns 100% of LCM.

Further information on LCM is available at www.lcmam.com.

Strategies

Global real estate funds

Key Facts

2010
Founded

$10.3bn*
AUM

 

*Tetragon’s pro rata share (12.86%) of BentallGreenOak’s $80bn of AUM at 30 June 2022.

BentallGreenOak

BentallGreenOak was formed in June 2019 upon the merger of the GreenOak Real Estate joint venture with Bentall Kennedy, an affiliate of SLC Management, a global institutional asset management arm of Sun Life Financial Inc. Tetragon owns approximately 13% of the combined entity. GreenOak Real Estate was founded in 2010.

The BentallGreenOak investment platform serves over 750 institutional clients with approximately $80bn in assets under management at 30 June 2022.

BentallGreenOak offers a broad range of complementary real estate investment strategies that include Core, Core Plus and Value Added equity investment strategies as well as senior and mezzanine real estate debt strategies. With investment professionals based in 24 global offices, BentallGreenOak has deep local knowledge and strong, long-standing investment track records across the United States, Canada, Europe and Asia.

Further information on BentallGreenOak is available at bentallgreenoak.com. Clicking this link takes you to a website owned and operated by BentallGreenOak, a third-party. BentallGreenOak’s website is not under the control of Tetragon and Tetragon is not responsible for the content or any hyperlink contained.

Strategies

European Event-Driven Equity, Global Equities

Key Facts

2002
year founded

$0.8bn
AUM

Polygon

Polygon manages open-ended hedge fund vehicles focused on event-driven equities.

Polygon was established in 2002 and has offices in New York and London.

Tetragon owns 100% of the business.

Further information on Polygon is available at www.polygoninv.com.

Strategies

Multidisciplinary

Key Facts

$1.0bn AUM

Acasta

Acasta Partners manages multi-disciplinary hedge fund vehicles across a number of strategies including convertibles, credit, distressed, mining, metals, commodities and volatility trading.

The business was founded in 2009 as Polygon’s convertible business and rebranded in March 2022.

Acasta has offices in New York, London and Florida.

TFG Asset Management owns a non-controlling interest in this business and provides infrastructure and other services.

Further information on Acasta is available at www.acasta.com.

Strategies

UK Infrastructure Funds

Key Facts

2007
Founded

$9.5bn*
AUM

*USD-GBP exchange rate at reporting date.

Equitix

Equitix is an integrated core infrastructure asset management and primary project platform.

Equitix was established in 2007 and is based in London.

Tetragon owns 75% of the business.

Equitix invests in infrastructure projects in the United Kingdom and Europe and more recently it has developed a global presence with teams in North America, the Middle East and Asia. It has acquired more than 330 core infrastructure projects since the firm’s inception.

Further information on Equitix is available at www.equitix.co.uk.

Clicking this link takes you to a website owned and operated by Equitix, a third-party. Equitix’s website is not under the control of Tetragon and Tetragon is not responsible for the content or any hyperlink contained.

Strategies

Mining Finance

Key Facts

2014
Founded

$46 mn
AUM

Hawke’s Point

Established by TFG Asset Management in 2014, Hawke’s Point is an asset management company focused on mining finance that provides capital to companies in the mining and resource sectors.

Hawke’s Point manages private equity-style funds and managed accounts.

TFG Asset Management owns 100% of the business.

Further information on Hawke’s Point is available at www.hawkespointcapital.com.

Strategies

Structured Credit

Key Facts

2015
Founded

$0.9bn
Committed capital

Tetragon Credit Partners

Tetragon Credit Partners is TFG Asset Management’s structured credit investing business.

Tetragon Credit Partners manages three private equity-style funds, which are predominantly control-stake CLO equity vehicles.

The business was originally established at the end of 2015 and is managed out of New York and London.

More recently, the business has evolved from a historic focus on primary CLO control equity to a broader series of offerings across the CLO capital structure.

Tetragon owns 100% of the business.

Further information on Tetragon Credit Partners is available at www.tetragoncreditpartners.com.

Strategies

Private Equity

Key Facts

2019
Founded

$0.1bn
AUM

Banyan Square

Banyan Square Partners is a private equity firm focused on non-control structured and common equity investment opportunities. The firm seeks to support private equity acquisition financing, growth initiatives and liquidity events.

Banyan Square Partners was founded in 2019 and is based in New York.

TFG Asset Management owns 100% of the business.

Banyan Square Partners manages a private-equity fund.

For more information, visit https://www.banyansq.com/.

Strategies

Legal assets

Key Facts

2020
Founded

$0.4bn
AUM

Contingency Capital

Contingency Capital is a multi-product global asset management business that sponsors and manages investment funds focused on credit-oriented legal assets.

The business was founded in November 2020 and is based in New York.

TFG Asset Management owns a non-controlling interest in this business and provides infrastructure services.

For more information, visit https://www.contingencycapital.com/.

Assets Under Management (12)

    2010

    Acquired
    LCM

    Joint venture established
    GREEN OAK

    2012

    Acquired
    POLYGON

    2014

    Acquired
    EQUITIX

    2015

    Established
    HAWKES POINT

    LSE SFS (TFG.LN)
    TETRAGON

    Established
    TETRAGON CREDIT PARTNERS

    2019

    GreenOak merger with Bentall Kennedy
    BENTALLGREENOAK(12)

    Established
    BANYAN SQUARE

    2020

    2022

    Polygon Convertible fund rebranded
    ACASTA PARTNERS

    As of 30 September 2022

    Jessica Gold, Deputy Chief Compliance Officer

    News and insights from our managers

    View all
    LCM CLOSES LCM 40 CLO

    Dec 2022

    LCM CLOSES LCM 40 CLO

    Equitix agrees to purchase Aurora Infrastructure

    Jun 2022

    Equitix agrees to purchase Aurora Infrastructure

    Polygon 2021 EuroHedge Award Nomination – Event Driven & Distressed

    Jan 2022

    Polygon 2021 EuroHedge Award Nomination – Event Driven & Distressed

    Polygon 2021 EuroHedge Award Nomination – Convertibles & Volatility

    Jan 2022

    Polygon 2021 EuroHedge Award Nomination – Convertibles & Volatility

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