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Angelo Gordon Expands Credit Solutions Platform, Raises $1.3 Billion for Its Second Public Market Dislocation Fund
Follows Successful $3.1 Billion Capital Raise for AG Credit Solutions Fund II
Highlights Continued Growth of Angelo Gordon’s Distressed & Corporate Special Situations Platform
NEW YORK, March 6, 2023-- Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, today announced the final closing of the AG CSF2A (Annex) Dislocation Fund, L.P. (the “Annex Dislocation Fund 2”) with $1.3 billion of equity commitments. The Fund received strong support from existing investors of the flagship Credit Solutions strategy, as well as a significant level of commitments from institutional and retail investors new to Angelo Gordon. The Fund was raised in an expedited timeframe of less than seven months from the first to final closing.
The Annex Dislocation Fund 2 seeks to capitalize on situational market volatility and stress by investing primarily in public debt securities whose prices have dislocated from long-term fundamentals. The Fund, which is the latest in a series of investment vehicles that comprise Angelo Gordon’s $12 billion all-weather distressed and special situations platform, is an extension of the AG Credit Solutions Fund II, L.P., which held a final close of $3.1 billion in April 2022. Angelo Gordon manages greater than $37 billion in credit assets and invests across corporate credit, lending, and structured credit strategies.
Ryan Mollett, Angelo Gordon’s Global Head of Distressed & Corporate Special Situations and portfolio manager of the Fund, said, “The dramatic price moves over the past twelve months have led to significant dispersion in individual names and created a credit-picker’s market. This dynamic, combined with our credit solutions capabilities, makes us very excited to tactically take advantage of opportunities in the public market.”
Josh Baumgarten, co-CEO, co-CIO and Head of Credit at Angelo Gordon, added, “Our distressed and special situations platform continues to prove its ability to identify and execute on idiosyncratic opportunities in rapidly-changing market environments. We are grateful for the support of our limited partners and appreciate their confidence in our execution.”
ABOUT ANGELO, GORDON & CO., L.P.
Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held alternative investment firm founded in November 1988. The Firm currently manages approximately $53 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 650 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia. For more information, visit www.angelogordon.com.
Amanda Shpiner/Kevin FitzGerald
Gasthalter & Co.