Angelo Gordon Raises $1.8 Billion

Angelo, Gordon & Co. has held a final close of AG Credit Solutions Fund LP (AGCS) with $1.8 billion of capital commitments.

AGCS is an investment vehicle for the firm’s distressed and special situations strategies which invests in companies with special liquidity and capital structure situations.

“Distressed and special situations credit has been a core expertise of Angelo Gordon since its founding over 30 years ago,” said Josh Baumgarten, co-CIO and head of credit at Angelo Gordon. “The successful fundraising of the Credit Solutions Fund is confirmation of the platform’s leadership position in both the United States and Europe, and investors’ conviction in our ability to execute this all-markets investment strategy.”

The new fund, which held its first closing in July 2019, closed above its $1 billion target and was backed by existing Angelo Gordon clients as well as new institutional investors.

“We are grateful for the strong support from both longstanding clients and new investors to the firm,” said Ryan Mollett, Angelo Gordon’s global head of distressed and corporate special situations and the portfolio manager of the AGCS. “Our solutions-based, partnership approach is differentiated, and we are committed to using our capital, creativity and scale to help companies and drive performance for our investors.”

Angelo, Gordon & Co. is an alternative investor with a focus on credit, real estate, private equity, and other strategies. The firm, founded in November 1988, currently manages total capital of $38 billion and has over 500 employees, including 200 investment professionals. Angelo Gordon is headquartered in New York City with additional offices across the U.S., Europe and Asia.

© 2020 Private Equity Professional | February 13, 2020

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