Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, closed AG CSF2A (Annex) Dislocation Fund (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, 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, global head of distressed & corporate special situations at Angelo Gordon 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.”
“Our distressed and special situations platform continues to prove its ability to identify and execute on idiosyncratic opportunities in rapidly-changing market environments,” Josh Baumgarten, co-CEO, co-CIO and head of credit at Angelo Gordon, said. “We are grateful for the support of our limited partners and appreciate their confidence in our execution.”