Tetragon Financial Group Ltd Tetragon Litigation Finance Venture with Brandon Baer
06 October 2020 - 5:00PM
UK Regulatory
TIDMTFG
Tetragon Financial Group Limited To Pursue Litigation Finance Venture with
Brandon Baer
LONDON, Oct. 6, 2020 -- Tetragon and its diversified alternative asset
management business, TFG Asset Management, have entered into an agreement with
Brandon Baer to invest in his newly-created company, Contingency Capital, a
multi-product global asset management business that will sponsor and manage
litigation finance related investment funds. Contingency Capital will have its
formal launch on 1 November 2020.
Mr. Baer formerly worked at Fortress Investment Group where he was a Partner
and Managing Director in the Credit Funds business. He was also the Co-Founder
and Co-Head of its Legal Assets group.
TFG Asset Management will receive a significant minority equity interest in
Contingency Capital and Tetragon will provide Contingency Capital with, among
other things, working capital and a $50 million commitment to Contingency
Capital's first commingled investment fund, with Tetragon retaining the option
to invest further amounts. TFG Asset Management, which owns majority and
minority private equity stakes in asset management companies, will also provide
Contingency Capital with operating infrastructure - encompassing critical
business management functions such as risk management, investor relations,
financial control, technology and compliance/legal matters.
Fortress and Contingency Capital have entered into co-investment arrangements
pursuant to which Fortress may invest up to $500 million in Contingency
Capital's opportunities. Contingency Capital has also entered into
arrangements with a large fixed income asset manager relating to up to $900
million of additional co-investment opportunities.
Reade Griffith, a Founder of Tetragon's investment manager and the Chief
Investment Officer of TFG Asset Management, commented: "We think there are
significant opportunities in litigation finance related investing, and gaining
exposure to this asset class is very appealing. We are also particularly
excited to partner with Brandon, who is a leader in the space with extensive
experience." Stephen Prince, the Head of TFG Asset Management, noted: "We
believe Brandon continues our efforts of partnering with exceptional asset
managers."
"I am excited to partner with Tetragon and its asset management platform," said
Mr. Baer. "The Contingency Capital business seeks to provide access to
high-quality litigation finance assets in an increasingly expanding market.
Our focus will be on investments whose primary outcomes are driven by legal,
tax or regulatory processes and are intended to be generally uncorrelated to
the markets. I am also pleased to be able to continue collaborating with
Fortress, where I spent almost a decade focused on credit and legal assets."
"As a significant shareholder in Tetragon and one of the largest investors in
legal assets globally, Fortress is very excited to work with Tetragon and
Brandon on this new opportunity," said Jack Neumark, Head of Legal Assets at
Fortress. "We have a long history of providing capital in a variety of forms
to litigation finance platforms and we believe the co-investment arrangements
with Contingency Capital will be another good partnership for us in this asset
class."
About Tetragon:
Tetragon is a closed-ended investment company that invests in 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. 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 Pro-tetragon@prosek.com
ir@tetragoninv.com United States United Kingdom
Andy Merrill and Ryan Fitzgibbon Zara Thornton
+1 212 279 3115 ext. 216 and +44 (0) 20 8323
ext. 234 0476
Contingency Capital:
Brandon Baer
info@contingencycapital.com
www.contingencycapital.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.
SOURCE Tetragon Financial Group Limited
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