Ashurst advises on sale of minority stake in Equitix to Hunter Point Capital

Global law firm Ashurst has advised Equitix, a leading international investor, developer and fund manager in infrastructure, and Tetragon Financial Group Limited on the acquisition by Hunter Point Capital ('HPC'), an independent investment firm providing capital solutions and strategic support to alternative asset managers, of a minority stake in Equitix.

Equitix was founded in 2007 and Tetragon acquired a controlling stake in the business in 2015. Since the acquisition by Tetragon, Equitix has grown from £1.3 billion to over £11.7 billion in assets under management with a broad sector focus on social infrastructure, transport, renewable power, environmental services, network utilities and data infrastructure.

HPC has formed a strategic partnership with Equitix, acquiring a 16.1% stake in the business at an implied enterprise value of £1.3 billion, excluding net debt, with HPC acquiring 14.6364% from TFG Asset Management, Tetragon’s diversified alternative asset management business, and 1.4636% from Equitix management.

The Ashurst cross-border team was led by partner Jason Radford, supported by partners Bruce Hanton and Nick Goddard, senior associates Jasmin O'Reilly and Donald Corbett and associates Patrick Chambers, Harry Pye, Jonny Mussard, Samantha Hedley. Partner Steven Vaz, senior associates Natasha Gromof, Danica Barley and Adam Kidane and associate Isabella Hunt advised on competition matters, and partner Navdeep Benning and associate Charlotte Steward led on financial aspects. Partners Lorraine Johnson and Bradley Rice, senior associate Henry Glasford and associates Hannah Sheikh and Roni Fass advised on regulatory aspects.

Real estate advice was provided by partner Henry Moss, with partner Mark Spinney advising on tax aspects. Partners Christopher Bates, Rhiannon Webster and Sunny Kumar, senior associates Shehana Perera- Cameron and Adam Eskdale and associates Nilesh Ray, Julia Bell and Hana Byrne advised on commercial contracts, privacy and IP matters. Partner Crowley Woodford, counsel Liz Parkin and John Gordon and associate Emily Bodger provided employment, pensions and incentives advice. The wider team included Luxembourg-based partner Arnaud Julien, Saudi-based partner Faisal Baassiri and associate Haifa AlZeer and Abu Dhabi-based senior associate Theo Palmer.

Commenting on the transaction, lead partner Jason Radford said: "I am delighted that the Ashurst team has been able to support both Equitix management and Tetragon in achieving a further milestone in the Equitix journey. Having worked with Equitix since its inception in 2007, it has been a privilege to witness the growth of the business, its internationalization and professionalisation. We look forward to continuing to be a strong partner for Equitix for the next stage of its journey."