Tetragon Financial Group Limited (TFG) - Monthly Update for December 2012

Jan 31, 2013, 02:00 ET from Tetragon Financial Group Limited

LONDON, January 31, 2013 /PRNewswire/ --

Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on the NYSE Euronext in Amsterdam under the ticker symbol "TFG".

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 December 31 2012

(Amounts provided are unaudited and subject to change)

                                               (in millions except per share

    Estimated Fair Value of Investments:       $1,440.4
    Cash and Cash Equivalents:                 $175.9
    Net Other Assets / (Liabilities):          $5.1
    Estimated Net Asset Value:                 $1,621.4
    TFG Legal Shares Issued and Outstanding:   133.7
    U.S. GAAP Net Asset Value per Share:
    [2]                                       $16.41
    Pro Forma Fully Diluted Net Asset Value
    per Share: [3]                            $14.65


As of the end of December 2012, the majority of the net assets of the company were invested in the equity tranches of U.S. CLOs. Investments are also held in U.S. senior secured loans, equity tranches of European CLOs, asset management businesses, hedge funds, real estate funds, and CLO mezzanine tranches, with the remainder of the net assets held in cash less certain net liabilities.

The geographical allocation of TFG's CLO equity, direct loan, and real estate fund investments was weighted primarily towards the United States, at 89.9% of such assets as of the end of December 2012. European exposure was approximately 9.8% and Asia was approximately 0.3%. TFG's ownership of asset managers, and investments in certain hedge fund vehicles are excluded from the geographic allocation above as they span more than one region.

    Expected Upcoming Events                     Date
    January 2013 monthly report                  February 20, 2013 (approx)
    Q4 2012 dividend announcement                February 28, 2013
    2012 audited financial statements released   March 1, 2013 (approx)
    Q4 2012 dividend (ex- date)                  March 1, 2013
    Q4 2012 dividend record date                 March 5, 2013
    Quarterly investor call                      March 19, 2013
    February 2013 monthly report                 March 20, 2013 (approx)
    Q4 2012 dividend payment date                March 25, 2013

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 U.S. Securities Act of 1933 (the "Securities Act"), as amended, 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.  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 U.S. 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 ("FMSA") as a collective investment scheme from a designated country. This release constitutes regulated information ("gereglementeerde informatie") within the meaning of Section 1:1 of the FMSA.


(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)Calculation is with reference to US GAAP Shares outstanding (approximately 98.8 million),  which is determined by reducing TFG legal shares issued and outstanding by approximately 6.5 million shares held in treasury, 16.6 million shares held by a subsidiary and 11.8 million shares held in escrow.

(3) Calculation is with reference to pro forma fully diluted Shares outstanding (approximately 110.6 million), which is determined by adding to U.S. GAAP Shares outstanding shares held in escrow of 11.8 million.

For further information, please contact:
David Wishnow/Yuko Thomas
Investor Relations

Press Inquiries:
Brunswick Group
Andrew Garfield/Gill Ackers/Brian Buckley

SOURCE Tetragon Financial Group Limited