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Alternative Market Briefing

Angelo Gordon closes latest fund at $2.75bn, exceeding its target

Friday, May 31, 2019

Laxman Pai, Opalesque Asia:

Angelo Gordon, a $33bn alternative investment firm focused on credit and real estate investing, announced that it has raised over $2.75bn in equity commitments for its most recent U.S. real estate fund, AG Realty Value Fund X, exceeding the fund's $2.5bn target.

AG Realty Value Fund X is 112% larger than the prior fund in the series of real estate funds, the $1.3bn AG Realty Fund IX that closed in December 2014.

The New York-based firm will use AG Realty Value Fund X to invest in a broad spectrum of distressed and underperforming properties.

Consistent with Angelo Gordon's approach to global real estate investing, the fund will seek to identify off-market investment opportunities with a focus on sub-performing or distressed office, multifamily, retail, residential, hotel, for-sale housing, senior housing, self storage, and student housing assets, primarily located in the U.S.

The fund may also invest up to 20% of its capital in Europe and Asia, regions in which Angelo Gordon has a strong presence and local investment teams.

The fund received strong backing from existing Angelo Gordon investors and welcomed a number of new global institutional investors.

Investors in the fund include the Texas Permanent School Fund, Austin; Mississippi Public Employees' Retirement System, Jackson; Hawaii Employees' Retirement System, HonoluluOklahoma Teachers' Retirement System, Oklahoma City etc.

Since 1993, Ange......................

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