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Alternative Market Briefing

Angelo Gordon raises $3.1b for the second credit solutions fund

Wednesday, May 25, 2022

Laxman Pai, Opalesque Asia:

Angelo Gordon raised its second debt fund focusing on special situations and distressed companies.

According to a press release from the $50 billion credit and real estate investment firm, AG Credit Solutions Fund II LP raised $3.1 billion of equity commitments, exceeding the Fund's $3.0 billion target in seven months from the initial to a final close.

The Fund received significant support from current Angelo Gordon clients and new institutional and retail investors globally. Ryan Mollett, Angelo Gordon's Global Head of Distressed & Corporate Special Situations and portfolio manager of the Fund, said, "The strong support we received for our second fund is a validation of our solutions-based approach and commitment to using our capital, creativity, and scale to help companies address complex capital situations."

The new fund will bring Angelo Gordon's assets under management for distressed and special situations to $11 billion, much of it focused on providing financing to companies with liquidity and capital structure issues.

"Consistent with its predecessor, the Fund's investment strategy seeks to leverage the firm's capital base and structuring expertise in partnering with companies to create customized financing solutions that can help resolve idiosyncratic liquidity and capital structure situations," said the release.

Josh Baumgarten, co-CEO, co-CIO, and Head of Credit at Angelo Gordon, said, "We are pleased to have clos......................

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