Tetragon Financial Group

EU: TFG

Market Cap$1,439m

Last Close $10.3

Tetragon Financial Group’s investment objective is to generate distributable income and capital appreciation, aiming to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. Tetragon’s investment portfolio comprises 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.

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Investment summary

Tetragon Financial Group (Tetragon) focuses on alternative asset classes offering excess risk-adjusted returns (ie ‘intrinsic alpha’). This includes private equity holdings in alternative asset managers, investments in funds, as well as balance sheet investments in alternative assets. Tetragon posted a 14.1% NAV total return in FY21 in US dollar terms and so far saw only an 0.6% NAV decline in 2022 until end-April. It continues to make distributions to shareholders through NAV-accretive share buybacks (it completed a US$42m tender offer in April 2022) and dividends (with its LTM payout implying a 4.1% yield).

Content on Tetragon Financial Group
Tetragon Financial Group – Offering a diverse exposure to alternative assets
Investment companies | research Outlook | 27 June 2022
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Tetragon Financial Group – Performance remains subdued year to date
Investment companies | research Review | 15 December 2021
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Tetragon Financial Group – Muted performance in H121
Investment companies | research Update | 1 September 2021
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Share price graph
Price performance
%
1m
3m
12m
Actual 0.0 15.1 6.7
Relative* 5.0 22.2 9.4
52-week high/low US$10.4/US$8.3
*% relative to local index
Key management
David O’Leary Independent Directors
Deron Haley Independent Directors
Paddy Dear Co-Founder and Director
Reade Griffith Co-Founder, Director & Head of Inv. Committee
Stephen Prince Head of TFG Asset Management
Steven Hart Independent Directors