Strong NAV Per Share Growth
Tetragon achieved a fully diluted NAV per share of $38.74 as at June 30, 2025, representing a NAV per share total return of 10% for the first half of 2025. Since its IPO, Tetragon has achieved an annualized NAV per share total return of 11%.
Impressive ROE Performance
The return on equity (ROE) for the first half of 2025 was a positive 12.2%, significantly above the target range of 5% to 7.5% for a 6-month period.
Significant Gains from Equitix
Tetragon's investment in Equitix generated a profit of $409 million during the first half of 2025, driven by a higher valuation and foreign exchange gains.
Beneficial Transaction with Hunter Point Capital
Hunter Point Capital acquired a 16.1% stake in Equitix, implying an enterprise value of GBP 1.3 billion for the business. Tetragon will continue to hold a 66.4% stake post-transaction.
Positive Performance in Private Equity and Venture Capital
Gains of $189 million were generated in this segment, driven by investments in Ripple Labs and an Australian gold mining company.