Tetragon Financial Group, through its asset management arm, announced that Hunter Point Capital (HPC) will acquire a 16.1% minority stake in Equitix—an international infrastructure investor, developer, and fund manager—at an implied enterprise value of GBP 1.3 billion (US$ 1.7 billion).

HPC’s stake is being acquired from two existing shareholders: approximately 14.6% from TFG Asset Management, Tetragon’s diversified alternative asset management business, and 1.5% from Equitix management. Equitix was founded in 2007 and Tetragon acquired a controlling stake in the business in 2015. Since being acquired by Tetragon, Equitix has grown from £1.3 billion to over £11.7 billion in assets under management with a broad sector reach across social infrastructure, transport, renewable power, environmental services, network utilities and data infrastructure. Equitix is part of Tetragon’s platform for alternative asset managers, TFG Asset Management, which will remain the majority owner, alongside HPC and management. There will be no changes to the governance, investment process, or day-to-day management of Equitix.

BofA Securities served as financial advisor and Dechert LLP served as legal counsel to Tetragon. Latham & Watkins LLP served as legal counsel to HPC.  Ashurst LLP served as legal counsel to Equitix management.