June 16, 2025

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Hunter Point Capital (“HPC”), an independent investment firm providing capital solutions and strategic support to alternative asset managers, today announced it has agreed to form a strategic partnership with Equitix, a leading international investor, developer and fund manager in infrastructure.

HPC is acquiring a 16.1% stake in the business at an implied enterprise value of £1.3 billion, excluding net debt. 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.

“We are thrilled to be adding Equitix to our GP Stakes portfolio and to join Tetragon in this next phase of exciting growth for one of Europe’s leading infrastructure managers. The Equitix team has built a market-leading firm offering a differentiated value proposition to investors. We look forward to engaging with Equitix as it continues to scale its platform globally and to launch new products to meet the evolving needs of institutional investors, building on its prior experience of value creation and impact,” said Avi Kalichstein, CEO and Co-Founder of HPC.

Stephen Prince, CEO of TFG Asset Management, said: “Following ten years of strong growth, Equitix is at an inflection point. This transaction enables Tetragon to realize some of the value created in the business, while remaining invested with a trusted partner in a sector where we continue to see significant runway for innovation and growth. In HPC we found an experienced minority partner, bringing additive relationships and expertise to seek to enhance Equitix’s continued innovation and development.”

Hugh Crossley, CEO of Equitix commented: “Equitix was founded as a responsible long-term investor in infrastructure assets, primarily focused on the UK. It has now evolved into an infrastructure developer and fund manager with over 300 assets in 24 countries and more than 400 employees. I am incredibly proud of what Equitix has achieved; we are a trusted partner managing global infrastructure assets, which we believe materially contribute to the lives of the communities they serve. I look forward to leading our team as it seeks continued growth and success in partnership with Tetragon, and now with HPC onboard.”

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.

HPC’s acquisition is subject to customary closing conditions, including required regulatory approvals.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.