LONDON, Oct. 6, 2020 /PRNewswire/ — Tetragon and its diversified choice asset management enterprise, TFG Asset Administration, have entered into an arrangement with Brandon Baer to spend in his newly-created business, Contingency Money, a multi-item global asset management small business that will sponsor and take care of litigation finance linked investment decision cash. Contingency Funds will have its formal launch on 1 November 2020.
Mr. Baer previously labored at Fortress Expense Group where he was a Husband or wife and Controlling Director in the Credit rating Money company. He was also the Co-Founder and Co-Head of its Authorized Assets group.
TFG Asset Administration will receive a important minority fairness curiosity in Contingency Capital and Tetragon will deliver Contingency Capital with, amongst other points, doing work funds and a $50 million determination to Contingency Capital’s very first commingled financial commitment fund, with Tetragon retaining the solution to invest additional amounts. TFG Asset Management, which owns the greater part and minority non-public fairness stakes in asset administration companies, will also supply Contingency Cash with operating infrastructure – encompassing important small business management functions this sort of as risk management, investor relations, monetary control, technology and compliance/lawful matters.
Fortress and Contingency Capital have entered into co-financial investment arrangements pursuant to which Fortress may well commit up to $500 million in Contingency Capital’s possibilities. Contingency Capital has also entered into preparations with a large mounted money asset manager relating to up to $900 million of further co-financial commitment options.
Reade Griffith, a Founder of Tetragon’s financial commitment manager and the Chief Expense Officer of TFG Asset Management, commented: “We consider there are important chances in litigation finance similar investing, and attaining exposure to this asset class is really pleasing. We are also especially excited to spouse with Brandon, who is a chief in the space with substantial encounter.” Stephen Prince, the Head of TFG Asset Management, mentioned: “We feel Brandon continues our efforts of partnering with extraordinary asset professionals.”
“I am psyched to associate with Tetragon and its asset management platform,” claimed Mr. Baer. “The Contingency Money business seeks to supply accessibility to high-high quality litigation finance assets in an progressively growing sector. Our focus will be on investments whose key outcomes are driven by lawful, tax or regulatory procedures and are meant to be usually uncorrelated to the marketplaces. I am also pleased to be able to continue on collaborating with Fortress, where by I spent almost a ten years centered on credit rating and lawful assets.”
“As a major shareholder in Tetragon and 1 of the biggest buyers in legal property globally, Fortress is really excited to do the job with Tetragon and Brandon on this new possibility,” mentioned Jack Neumark, Head of Authorized Belongings at Fortress. “We have a long historical past of supplying money in a assortment of sorts to litigation finance platforms and we imagine the co-expenditure arrangements with Contingency Cash will be yet another excellent partnership for us in this asset course.”
Tetragon is a closed-ended expense firm that invests in a wide array of property, together with community and non-public equities and credit history (including distressed securities and structured credit), convertible bonds, real estate, undertaking money, infrastructure, lender financial loans and TFG Asset Administration, a diversified alternative asset management business enterprise. Wherever proper, through TFG Asset Management, Tetragon seeks to personal all, or a part, of asset management organizations with which it invests in purchase to increase the returns accomplished on its money. Tetragon’s financial commitment objective is to produce distributable profits and capital appreciation. It aims to give secure returns to investors throughout many credit score, equity, desire level, inflation and actual estate cycles. The firm is traded on Euronext in Amsterdam N.V. and on the Professional Fund Segment of the main sector of the London Stock Exchange. For more details make sure you check out the company’s internet site at www.tetragoninv.com.
This release does not contain or represent an offer you to sell or a solicitation of an offer you to order securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered less than the U.S. Securities Act of 1933 and may perhaps not be provided or offered in the United States or to U.S. people except they are registered under applicable legislation or exempt from registration. Tetragon does not intend to sign-up any part of its securities in the United States or to carry out a general public give of securities in the United States. In addition, Tetragon has not been and will not be registered beneath the U.S. Financial commitment Business Act of 1940, and traders will not be entitled to the benefits of these Act. Tetragon is registered in the general public sign up of the Netherlands Authority for the Economic Markets less than Area 1:107 of the Economic Markets Supervision Act as a collective financial commitment plan from a designated nation.