Angelo Gordon promoted Marc Lessner and Xavier Dailly to serve as co-deputy portfolio managers of the firm’s open-ended structured credit fund. The firm also promoted Sunil Kothari to head of European ABS and Aaron Ong to head of private asset-based credit and hired David Busker as head of commercial real estate debt for the firm’s structured credit team.
Angelo Gordon, an alternative investment firm focused on credit and real estate investing, closed the AG Asset Based Credit Fund with more than $1 billion of equity commitments, exceeding its $800 million target.
TPG, an alternative asset management firm, entered a definitive agreement to acquire Angelo Gordon, a $73 billion alternative investment firm focused on credit and real estate investing, in a cash and equity transaction valued at $2.7 billion.
Angelo Gordon closed AG CSF2A Dislocation Fund 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.
Angelo Gordon closed the AG Credit Solutions Fund II with $3.1 billion of equity commitments, exceeding the fund’s $3 billion target in seven months from the initial opening to final close.
Alan Isenberg, former head of product strategy and marketing at Neuberger Berman, joined Angelo Gordon as global head of its client partnership group. In this role, he will be responsible for leading the firm’s worldwide client and product functions.
Angelo Gordon added Nicholas Smith as managing director to lead the firm’s whole loan business and expand the team’s capabilities across multiple asset classes. The firm also hired Rodney Hutter as managing director responsible for private credit origination.
Angelo, Gordon said Joshua S. Baumgarten, currently senior managing director of The Blackstone Group, is joining the firm as senior managing director and head of credit.