NEW YORK and LONDON, May 9, 2024 /PRNewswire/ — Avenue Capital Group today announced the successful final closing of the Avenue Europe Special Situations Fund V (the “Avenue Europe Fund”). Together with separately managed accounts, over $1 billion of commitments have been raised for the Avenue Europe Fund from a broad range of existing and new investors, including public and corporate pension plans, sovereign wealth funds, asset managers and family offices.

The Avenue Europe strategy is focused on providing senior secured, asset-backed loans to structurally underserved borrowers across Northern Europe. As traditional lenders have reduced their lending in certain areas of the market, there is an attractive opportunity for alternative lenders with established capabilities. The Avenue Europe team leverages Avenue’s origination platforms and long-standing presence in Europe to generate a large volume of recurring lending opportunities in these market niches which are generally less competitive and have high barriers to entry.

Avenue is an established investor in Europe. The firm launched its dedicated presence in the region in 2004 and has since deployed more than $26 billion in European special situations and credit investments. Today, its Europe team of investment professionals operates from a London headquarters and offices throughout the region, overseeing close to $4 billion in investments across a range of investment vehicles focused on Europe.

“We are gratified to have received such strong support for the Avenue Europe Fund from our existing and new investment partners,” said Marc Lasry, CEO and Co-Founder of Avenue Capital Group. Jon Ford, Senior Portfolio Manager and Head of Avenue’s Europe Strategy, added, “We are confident in our ability to deliver attractive and differentiated returns. Our pipeline of lending opportunities continues to significantly exceed our available capital.”

“The support from our investors will allow us to continue to target a compelling opportunity in European asset-backed lending,” said Padraig Moore, Senior Portfolio Manager. “We look forward to growing the Avenue Europe business as we see an incredible number of opportunities in our area of expertise in the market.”

The Avenue Europe Fund has drawn over 50% of committed capital and is expected to be fully committed within the next 12 months.

About Avenue Capital Group
Avenue Capital Group is a global investment firm focused primarily on making opportunistic credit and other special situations investments across the United States, Europe and Asia. Avenue, founded in 1995 by Marc Lasry and Sonia Gardner, draws on the skills and experience of over 60 investment professionals, and more than 180 employees worldwide operating from its headquarters in New York and three offices across Europe, four offices throughout Asia, an office in Silicon Valley and an office in Abu Dhabi. Avenue has assets under management of approximately $12.2 billion.

Media Contact: Todd Fogarty, Kekst CNC. [email protected] or +1 917 992 1170

View original content:https://www.prnewswire.co.uk/news-releases/avenue-capital-group-closes-on-over-1-billion-in-commitments-for-european-strategy-targeting-asset-backed-lending-opportunities-302141117.html

LONDON, May 9, 2024 /PRNewswire/ — On 30 April 2024, the Board of Directors of Tetragon declared a dividend of U.S.$ 0.11 (11.00 cents) per share in respect of the first quarter of 2024. The ex-dividend date is 2 May 2024. The record date is 3 May 2024. Payment of the dividend will take place from 28 May 2024.

Tetragon’s website (www.tetragoninv.com) includes information on Tetragon’s Optional Stock Dividend Plan for those shareholders electing to receive dividends in the form of Tetragon shares. Shareholders may elect to receive dividends in the form of Tetragon shares by making a dividend share election up to 15 May 2024. If no election is made, the dividend will be paid in cash from 28 May 2024.

Cash dividends may be received in Sterling by those shareholders making a dividend currency election up to 15 May 2024. If no election is made, the dividend will be paid in U.S. dollars from 28 May 2024.

The reference price for shares delivered in lieu of cash is U.S. $9.68, resulting in a conversion ratio of one newly issued share for every 88.00 dividend rights held. The reference price is based on the volume‑weighted average of the trading prices of a non-voting share on Euronext Amsterdam N.V. for the five-day trading period (treated as a single period) from 2 May to 8 May 2024.

For further information on the Optional Stock Dividend Plan, please refer to the brochure on Tetragon’s website.

About Tetragon:

Tetragon is a Guernsey closed-ended investment company. Its non-voting shares are listed on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and also traded on the Specialist Fund Segment of the Main Market of the London Stock Exchange. Our investment manager is Tetragon Financial Management LP.  Find out more at www.tetragoninv.com.

Tetragon’s non-voting shares are subject to restrictions on ownership by U.S. persons and are not intended for European retail investors.

Please see: https://www.tetragoninv.com/shareholders/additional-information.

Tetragon Investor Relations:

Yuko Thomas
[email protected]

Press Inquiries:

Prosek Partners
[email protected]
U.K. +44 20 3890 9193
U.S. +1 212 279 3115

This release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version of EU MAR as it forms part of UK law by virtue of the European Union (Withdrawal) Act (as amended).

This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) under Section 1:107 of the Dutch Financial Markets Supervision Act as an alternative investment fund from a designated state.

View original content:https://www.prnewswire.co.uk/news-releases/tetragon-financial-group-limited-dividend-information-in-respect-of-q1-2024-302141102.html

LONDON, May 9, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of Reg-Room, LLC (“Reg-Room”), a leading regulatory intelligence provider serving the financial services industry.

Founded by Nick Paraskeva and based in New York City, Reg-Room provides regulatory change monitoring and analysis solutions to the financial services industry and is widely recognised for its comprehensive and robust regulatory expertise and content with a well-established global customer base.  Its flagship products, Reg-Track, Reg-Impact, and Regulatory Risk Report provide the banking, broker-dealer, asset management and insurance sectors with tailored, timely and highly accurate alerts and summaries on crucial regulatory changes with global coverage.

Nick Paraskeva, founder of Reg-Room, said, “We’re excited to join the CUBE team and bring our regulatory expertise to an even broader audience. Our mission has always been to provide our customers with the tools they need to navigate the complexities of regulatory compliance. Together with CUBE, we’re confident we can further transform the industry.”

This acquisition furthers CUBE’s sector leadership in financial services, delivering its vision to pioneer an industry-defining regulatory compliance and risk platform and comes weeks after CUBE’s partnership announcement with Hg, a leading investor in European and transatlantic software and services providers.

Reg-Room’s expertly curated regulatory summaries and analysis combined with CUBE’s comprehensive content, technology and AI platform creates an unparalleled capability for financial firms across the globe, providing industry-leading automation, high-quality regulatory content, and enhanced customer value through a unified proposition.

Ben Richmond, founder and CEO of CUBE, said, “CUBE’s focus on technology, content and AI to deliver a regulatory compliance and risk platform that is truly transformative for customers is at the core of this – and all of – our acquisitions. When we looked at the sector for highly complementary providers, Reg-Room clearly stood out with its industry-leading client retention, innovative solutions, and exceptionally high quality proprietary regulatory summaries, supported by a global team of regulatory experts. Combine this with CUBE’s RegPlatform and RegBrain AI automation and it makes for a compelling proposition. Together, we are primed to set new standards of excellence in regulatory compliance.”

Christopher Fielding, Partner at Hg, commented: “The significant investment Nick and the team have made in their products and people will continue to propel our vision for accelerated innovation and premium quality relevant regulatory content. We are incredibly excited about the opportunities this presents in delivering transformative regulatory capabilities to customers worldwide.”  

Thomas Martin, Principal at Hg, added: “We welcome Nick and the team as we continue to build a leading provider of regulatory intelligence for financial institutions across the globe.”

The terms of the transaction have not been disclosed.

About CUBE

CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.

With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.

This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and $65 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.

About Reg-Room

Reg-Room, LLC provides regulatory information services monitoring to the financial services industry in the US and internationally.

Key products include Reg-Track and the Regulatory Risk Report newsletter which provide tailored and concise information on the fast changing regulatory environment, as well as the Reg-Impact compliance management solution.

The principal of Reg-Room LLC is Nick Paraskeva, who has forty years’ experience in Compliance and Regulation.

Nick founded Reg-Room after eleven years at Citigroup, where he was senior Vice president of Global Regulatory Risk in New York. He gained international expertise as Head of International Capital Policy at the UK SFA, the predecessor to the current FCA and PRA. Nick managed European regulatory issues at Salomon Brothers UK office before moving to their New York office in 1997.

Reg-Room is based in New York City.

View original content:https://www.prnewswire.co.uk/news-releases/cube-acquires-reg-room-to-further-extend-its-regulatory-intelligence-and-horizon-scanning-capabilities-302141000.html