National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Angelo Gordon Closes Distressed Debt Fund at $3.1B
Angelo Gordon has reached the final close of the AG Credit Solutions Fund II, L.P. with $3.1 billion of equity commitments, exceeding the fund’s $3.0-billion target in seven months. The distressed debt and special situations fund’s predecessor closed in 2020 at $1.8 billion, exceeding its $1-billion target.
The closed-end Fund II is the latest in a series of vehicles raised over the past three years that comprise a now-$11-billion all-weather distressed and special situations platform. Consistent with its predecessor, the fund’s investment strategy seeks to leverage the firm’s capital base and structuring expertise to create customized financing solutions.
Ryan Mollett, Angelo Gordon’s global head of distressed & corporate special situations and the fund’s portfolio manager, said, “The strong support we received for our second fund is validation of our solutions-based approach and commitment to using our capital, creativity and scale to help companies address complex capital situations.”
Pictured: Angelo Gordon headquarters in Midtown Manhattan.
- ◦Financing
