The decrease is associated with the global economic contraction induced by the pandemic, amplified by the adoption of working from home and uncertainty over office space going forward. The total value of global commercial property amounted to US$32.6tn in 2020 and was down 5% y-o-y (Savills). Similarly, commercial and residential real estate investments are garnering interest as a potential hedge against inflation according to Savills. Real estate is considered an inflation hedge Tetragon’s indirect exposure to infrastructure investments is its 75% stake in Equitix, which manages US$10.8bn of infrastructure assets and accounts for 25% of Tetragon’s net asset value (NAV). According to Global Infrastructure Hub, the gap between infrastructure investments needed to keep pace with economic growth (and meet the committed sustainable development goals) and government spending amounted to US$445bn globally in 2020 and is expected to widen to US$820bn by 2040. This is coupled with unmet need for infrastructure investments. Although the increased investor interest brought the dry powder in the sector to US$230bn in 2020 (after growing by 13% pa since 2010), it represents less than the global deal value in 2020 (and compares to the private equity market with about two years’ worth of deal value currently, according to Preqin). As a result, Preqin expects it to become the largest real assets strategy by 2026 (overtaking real estate). Infrastructure investments (which Bain & Company estimates in its Global Private Equity report 2022 attracted US$120bn of new capital in 2021) are sought by many investors for stability in the face of economic uncertainty and are also considered a natural hedge against inflation. One such low correlation asset is the global private infrastructure market, estimated at c US$1tn in 2019 by PwC. 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.Private infrastructure rises in popularity Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. In addition, Tetragon has not been and will not be registered under the U.S. 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. persons unless they are registered under applicable law or exempt from registration. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. The securities of Tetragon have not been and will not be registered under the U.S.
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. For more information please visit the company's website at Tetragon: The company's non-voting shares are traded on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and on the Specialist Fund Segment of the main market of the London Stock Exchange. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. Tetragon's investment objective is to generate distributable income and capital appreciation. 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 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.
Please click below to access the Monthly Factsheet. Please refer to important disclosures on page 3 of the Monthly Factsheet. Monthly NAV per share total return: 0.3%.Tetragon has released its Monthly Factsheet for August 2022.
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