Tetragon Financial Group Ltd Statement re: TCIP Expands CLO Team
19 September 2018 - 4:00PM
UK Regulatory
TIDMTFG
Tetragon Credit Income Partners - TCIP
TCIP Expands CLO Team
LONDON, Sept. 19, 2018 /PRNewswire/ -- Tetragon Credit Income Partners today
announces that Scott Snell has joined its CLO business. Snell, the former
Co-Head of BlackRock's US CLO business, brings nearly 16 years of experience
within the US CLO industry and structured credit markets.
"The CLO market continues to be a dynamic space presenting many interesting
investment opportunities, both near and long-term, making it an exciting time
to add an asset like Scott to our team," said Dagmara Michalczuk, Portfolio
Manager in the TCIP team. "As we look to continue to grow in this space,
Scott's nearly two decades of experience navigating this sector will be crucial
to our expansion and continued success."
Snell added: "Since inception, Tetragon has been a leader in taking majority
equity stakes in CLO transactions and forging deep relationships with CLO
managers to deliver strong risk-adjusted returns for its investors. I am
excited to become a part of this leading credit player and look forward to
helping the firm succeed and grow, especially at this moment in the CLO
industry."
As a Managing Director and Co-Head of Blackrock's US CLO business, Snell was
responsible for asset selection, trading and positioning decisions within
certain mutual funds and dedicated CLO separate accounts. Prior to joining
BlackRock, Snell was a trader and portfolio manager at Oak Hill Advisors,
specializing in structured credit investments. He began his career in
financial services as a structured product research analyst at Lehman Brothers
following his completion of his MBA program at the University of Michigan.
TCIP is owned by Tetragon Financial Group Limited and is one of the asset
managers that comprise TFG Asset Management. Tetragon invests in both
externally-managed CLOs and in CLOs managed by TFG Asset Management's LCM and
TCIP businesses. A cornerstone of TCIP's approach has been to buy and hold a
majority of the residual or "equity" tranches of CLOs which provide exposure to
senior secured loans on a levered basis.
Tetragon, directly and through private equity vehicles managed by TCIP, has
invested over $2.2 billion in CLO equity, across 97 CLOs managed by 32 managers
since inception.
About Tetragon:
Tetragon is a closed-ended investment company that invests in a broad range of
assets, including bank loans, real estate, equities, credit, convertible bonds,
private equity, infrastructure and TFG Asset Management, a diversified
alternative asset management business. Where appropriate, through TFG Asset
Management, Tetragon seeks to own all, or a portion, of asset management
companies with which it invests in order to enhance the returns achieved on its
capital. Tetragon's investment objective is to generate distributable income
and capital appreciation. It aims to provide stable returns to investors across
various credit, equity, interest rate, inflation and real estate cycles. The
company is traded on Euronext in Amsterdam N.V. and on the Specialist Fund
Segment of the main market of the London Stock Exchange. For more information
please visit the company's website at www.tetragoninv.com.
Tetragon: Press Inquiries:
Yuko Thomas Prosek Partners
Investor Relations Andy Merrill and Ciara Brinkmann
ir@tetragoninv.com Pro-tetragon@prosek.com
This release does not contain or constitute an offer to sell or a solicitation
of an offer to purchase securities in the United States or any other
jurisdiction. The securities of Tetragon have not been and will not be
registered under the U.S. Securities Act of 1933 and may not be offered or sold
in the United States or to U.S. persons unless they are registered under
applicable law or exempt from registration. Tetragon does not intend to
register any portion of its securities in the United States or to conduct a
public offer of securities in the United States. In addition, Tetragon has not
been and will not be registered under the U.S. Investment Company Act of 1940,
and investors will not be entitled to the benefits of such Act. Tetragon is
registered in the public register of the Netherlands Authority for the
Financial Markets under Section 1:107 of the Financial Markets Supervision Act
as a collective investment scheme from a designated country.
END
(END) Dow Jones Newswires
September 19, 2018 02:00 ET (06:00 GMT)
Tetragon Financial (LSE:TFG)
Historical Stock Chart
From Mar 2024 to May 2024
Tetragon Financial (LSE:TFG)
Historical Stock Chart
From May 2023 to May 2024