Tetragon Financial Group Ltd Statement re Monthly Report

 
TIDMTFG 
 
Tetragon Financial Group Limited (TFG) Monthly Update For January 2017 
 
LONDON, Feb. 23, 2017 -- TFG is a Guernsey closed-ended investment company 
traded on Euronext Amsterdam N.V. under the ticker symbol "TFG.NA" and on the 
Specialist Fund Segment of the main market of the London Stock Exchange plc 
under the symbol "TFG.LN". 
 
In this monthly update, unless otherwise stated, we report on the consolidated 
business incorporating TFG and Tetragon Financial Group Master Fund Limited.(1) 
 
Net Asset Value Estimates as of 31 January 2017 
(Amounts provided are unaudited and subject to change) 
 
                                             (in millions except per share 
                                             data) 
 
Estimated Fair Value of Investments:         $1,440.0 
 
Cash and Cash Equivalents:                   $481.3 
 
Net Other Assets / (Liabilities):            $24.4 
 
Estimated Net Asset Value                    $1,945.7 
 
TFG Legal Shares Issued and Outstanding:     139.7 
 
  Fully Diluted Shares Outstanding: (2)      97.1 
 
Fully Diluted Net Asset Value per Share:     $20.05 
(3) 
 
Investment Composition: 
 
As of the end of January 2017, the company's investment portfolio comprised a 
broad range of assets, including a diversified alternative asset management 
business, TFG Asset Management, and covered bank loans (including equity 
tranches of U.S. and European CLOs, U.S. CLO mezzanine tranches and U.S. senior 
secured loans), real estate, equities, credit, convertible bonds and 
infrastructure, as well as cash. Derivative mark-to-market gains and losses are 
contained within net other assets or liabilities. 
 
Investment Composition (continued): 
 
The geographical allocation of TFG's investments was determined to be 49.9% 
North America, 42.9% Europe, 4.7% Asia and 2.5% Latin America at month-end. 
Investments in hedge funds, private equity funds and other investment vehicles 
are based on the jurisdiction of the underlying investments. Where such 
underlying investments span more than one geographic region the amounts are 
allocated based on the percentage of long market value in each jurisdiction 
relative to the aggregate long market value of the fund or vehicle, as the case 
may be. Interests in asset management businesses are included in this 
calculation and are generally based on the jurisdiction in which the business 
resides. For investments in asset management businesses with offices that span 
multiple geographic areas, the geographic allocation is based upon an estimate 
of resources employed between such offices. 
 
Calendar: 
 
Please see the TFG website for the latest calendar: 
http://www.tetragoninv.com/investors/calendar-and-events 
 
About TFG: 
 
TFG is a Guernsey closed-ended investment company traded on Euronext Amsterdam 
N.V. under the ticker symbol "TFG.NA" and on the Specialist Fund Segment of the 
main market of the London Stock Exchange under ticker symbol "TFG.LN". TFG'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. TFG's 
investment portfolio comprises a broad range of assets, including a diversified 
alternative asset management business, TFG Asset Management, and covers bank 
loans, real estate, equities, credit, convertible bonds and infrastructure. 
 
For further information, please contact: 
 
TFG:                       Press Inquiries: 
 
                           Prosek Partners 
 
Greg Wadsworth/Yuko Thomas Andy Merrill and Ryan FitzGibbon 
 
Investor Relations         [phone] ext. 216 and ext. 234 
 
[e-mail]         [e-mail] 
 
This release contains inside information within the meaning of Article 7(1) of 
the EU Market Abuse Regulation. 
 
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 TFG have not been and will not be registered 
under the US Securities Act of 1933, as amended, and may not be offered or sold 
in the United States or to US persons unless they are registered under 
applicable law or exempt from registration. TFG 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, TFG has not been and will not be 
registered under the US Investment Company Act of 1940, and investors will not 
be entitled to the benefits of such Act. TFG 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. 
 
(1) TFG invests substantially all its capital through a master fund, Tetragon 
Financial Group Master Fund Limited (TFGMF) in which it holds a 100% share. 
(2) Fully Diluted Shares adjusts the IFRS shares outstanding (87.3 million) for 
the impact of certain escrow shares used as consideration in the Polygon 
transaction and associated stock dividends (together, 3.2 million), 
equity-based awards (1.0 million), estimated deferred incentive fees payable in 
shares (2.0 million) and for the potential impact of share options issued (3.6 
million), all subject to rounding. These options represent the intrinsic value 
of shares available for the GreenOak founders as at the end of January 2017 
(0.9 million) plus potential impact of options issued to TFG's Investment 
Manager at the time of TFG's IPO (the "Investment Manager Options") (2.7 
million). The Investment Manager Options, if exercised, will be settled by TFG 
on a cashless basis by issuing to the Investment Manager the net shares (based 
on then current share price) resulting from such exercise. IFRS Shares 
outstanding (approximately 87.3 million), are determined by reducing TFG Legal 
Shares issued and Outstanding (139.7 million) by approximately 43.1 million 
shares held in treasury and 9.3 million shares held in aggregate in escrow 
accounts, all subject to rounding. 
(3) Calculation is with reference to Estimated Net Assets Value ($1,945.7 
million) divided by Fully Diluted Shares Outstanding (approximately 97.1 
million), all subject to rounding. 
 
 
 
END 
 

(END) Dow Jones Newswires

February 23, 2017 02:00 ET (07:00 GMT)