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LONDON - Hunter Point Capital (HPC) has agreed to acquire a 16.1% stake in infrastructure investment firm Equitix at an implied enterprise value of £1.3 billion, excluding net debt, according to a press release statement from Tetragon Financial Group Limited.
The stake is being acquired from two existing shareholders: approximately 14.6% from TFG Asset Management, Tetragon’s alternative asset management business, and 1.5% from Equitix management.
Tetragon acquired a controlling stake in Equitix in 2015. Since then, Equitix has grown from £1.3 billion to over £11.7 billion in assets under management across sectors including social infrastructure, transport, renewable power, and data infrastructure.
"Following ten years of strong growth, Equitix is at an inflection point. This transaction enables Tetragon to realize some of the value created in the business, while remaining invested with a trusted partner," said Stephen Prince, CEO of TFG Asset Management.
Avi (JO:AVIJ) Kalichstein, CEO and Co-Founder of HPC, stated: "We are thrilled to be adding Equitix to our GP Stakes portfolio and to join Tetragon in this next phase of exciting growth for one of Europe’s leading infrastructure managers."
Equitix, founded in 2007, now manages over 300 assets in 24 countries with more than 400 employees. TFG Asset Management will remain the majority owner alongside HPC and management.
The acquisition is subject to customary closing conditions, including required regulatory approvals. BofA Securities served as financial advisor to Tetragon.
Tetragon is a Guernsey closed-ended investment company with shares listed on Euronext (EPA:ENX) Amsterdam and traded on the Specialist Fund Segment of the London Stock Exchange (LON:LSEG).
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