Deals
Tetragon Buys Affiliated Hedge Fund Polygon for $99 Million
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Tetragon Financial Group Ltd. bought Polygon Management LP, a hedge-fund firm founded by the same management team, for about $99 million as the publicly traded investor in structured loans expands its business.
Tetragon used 11.7 million of its non-voting shares to buy Polygon, a London hedge fund started by Reade Griffith and Paddy Dear, the Guernsey, Channel Islands-based company said in a statement today. The purchase price is based on the $8.43 closing price of Tetragon shares on Oct. 26.