Angelo Gordon raises USD1.8bn for inaugural credit solutions fund

Angelo, Gordon & Co, a USD38 billion alternative investment firm focused on credit and real estate investing, has held the final closing of AG Credit Solutions Fund, with USD1.8 billion of equity commitments.

The Fund, which is the flagship closed-ended investment vehicle of the firm’s distressed and corporate special situations activities, employs an all-weather investment approach designed to generate attractive risk-adjusted returns in any market environment. The Fund’s investment strategy seeks to align with companies and create customised financing solutions that can help resolve idiosyncratic liquidity and capital structure situations.

 
The Fund, which held its initial closing in July 2019, substantially exceeded its USD1 billion target and received significant backing from existing Angelo Gordon clients as well as new institutional investors globally.
 
Ryan Mollett, Angelo Gordon’s Global Head of Distressed & Corporate Special Situations and portfolio manager of the Fund, says: “We are grateful for the strong support from both longstanding clients and new investors to the firm. 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.”
 
Josh Baumgarten, co-CIO and Head of Credit at Angelo Gordon, adds: “Distressed and special situations credit has been a core expertise of Angelo Gordon since its founding over 30 years ago. 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.”
 
With nearly USD25 billion of assets under management, Angelo Gordon’s credit business invests across corporate, private, and structured credit strategies, including distressed and corporate special situations, convertible arb/merger arbitrage, performing credit, liquid credit, energy, middle market direct lending, residential and consumer debt, and CMBS and loan originations.