Angelo Gordon has closed the AG Credit Solutions Fund with $1.8 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 is to align with companies and create customized 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 $1 billion target and received significant backing from existing Angelo Gordon clients as well as new institutional investors globally.
“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,” said Ryan Mollett, Angelo Gordon’s global head of Distressed & Corporate Special Situations and portfolio manager of the fund.