Tetragon Credit Partners is a structured credit investing business focused on control CLO equity as well as a broader series of offerings across the CLO capital structure.
“We embrace the complexity inherent in CLO investing, from identifying and working with leading loan managers to securing structural enhancements which may support returns and provide protections in times of stress.”
- Highly experienced investment team
- Consistent cash generation across varied credit cycles
- Active focus on CLO structuring and portfolio design
- Technology-focused analytical and research systems
In 2015, the principals of Tetragon Credit Partners were part of the founding team of Tetragon Financial Group Limited, a publicly-listed closed-ended investment company which was originally focused on control CLO equity investments.
In 2015, the team launched Tetragon Credit Partners to primarily manage third-party capital and it became one of the asset management businesses of TFG Asset Management, which is the diversified alternative asset management platform of Tetragon Financial Group Limited. The platform has $42 billion in AUM across 9 asset managers(3) and provides Tetragon Credit Partners with operating infrastructure, including experienced functional expertise in credit and structured credit. Tetragon Financial Group is also a key investor in Tetragon Credit Partner products.
In the news
Creaky Credit Parks ‘High’ dispersion in CLO Pricing
Risk.net, August, 2023
“There’s a lot of concentrated liquidity at the top of the CLO capital structure, where very few large investors drive tighter pricing”.
A CLO ‘grab’ for short-dated loans is buoying prices
Risk.net, July 25, 2023
During periods of distress, loan prices generally have held up at levels that “probably would not have been possible without this very consistent demand from legacy CLOs”, says Dagmara Michalczuk, Portfolio Manager at Tetragon Credit Partners.
Pre-Conference Conversation with Dagmara Michalczuk
IMN, April 23, 2023
With the highly anticipated US CLOs and Leveraged Loans conference fast approaching, IMN spoke with esteemed speaker Dagmara Michalczuk.
Creditflux, October 17, 2022
Clouds are looming over financial markets as the fourth quarter begins — so investors are moving away from diversified approaches in favour of tailored investments and relative value plays.
One of the biggest threats to collateralized loan obligations
Bloomberg, June 30, 2022
One of the biggest threats to collateralized loan obligations now is their exposure to tech companies, which are broadly getting hit hard now, said Tetragon Credit Partners’ Michael Pang.
How CLOs impacted returns by between 20 and 100 basis points
Creditflux, August 24, 2021
In this episode of the Last Tranche, Tetragon Credit Partners' Dagmara Michalczuk and Michael Pang tell Creditflux that CLOs that missed an equity payment during the covid-19 crisis in 2020 impacted returns by between 20 and 100 basis points.