NEW YORK–(BUSINESS WIRE)–Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $33
billion alternative investment firm focused on credit and real estate
investing, today announced that it has raised over $2.75 billion in
equity commitments for its most recent U.S. real estate fund, AG Realty
Value Fund X (the “Fund”), exceeding the Fund’s $2.5 billion target and
making this the Firm’s largest real estate fund to date.
Consistent with Angelo Gordon’s approach to global real estate
investing, the Fund will seek to identify off-market investment
opportunities with a focus on sub-performing or distressed office,
multifamily, retail, residential, hotel, for-sale housing, senior
housing, self-storage, and student housing assets, primarily located in
the U.S. The Fund may also invest up to 20% of its capital in Europe and
Asia, regions in which Angelo Gordon has a strong presence and local
investment teams. AG Realty Value Fund X benefits from a flexible
mandate that allows for pursuit of investments along the entire
value-add spectrum, with risk profiles ranging from core-plus to
The Fund is led by the co-portfolio manager team that has managed Angelo
Gordon’s last four U.S. real estate vehicles, which includes Co-CIO and
Head of Real Estate Adam Schwartz and Co-Portfolio Manager of U.S. Real
Estate Reid Liffmann, with assistance from Steve White, Head of Western
U.S. Real Estate and Deputy Portfolio Manager, and Matt Jackson, who was
recently promoted to the role of Deputy Portfolio Manager.
The Fund received strong backing from existing Angelo Gordon investors
and welcomed a number of new global institutional investors.
“We are grateful for the confidence of our new and returning investors,
whose support of our strategy enabled us to hit this Fund’s hard cap,”
said Adam Schwartz. “The overwhelmingly positive response from investors
is a testament to the talent of our team, depth of our industry
expertise, and strength of our network of local operating partners – all
of which make us well positioned to identify and capitalize on the most
attractive investment opportunities in the U.S. market.”
Reid Liffmann added, “For over 25 years, we have developed and
maintained a distinctive value-add approach to investing in U.S. real
estate, which is focused on mitigating cyclical risk, and does not rely
on macro-thematic bets to generate returns. Our wealth of experience and
strong operating partner relationships create a competitive advantage
when it comes to deal sourcing and enable us to improve asset
performance and create value for our investors.”
Since 1993, the Firm has committed over $8 billion of equity in over 400
real estate transactions in the U.S.
ABOUT ANGELO, GORDON & CO., L.P.
Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held limited
partnership founded in November 1988. The Firm currently manages
approximately $33 billion with a primary focus on credit and real estate
strategies. Angelo Gordon has 510 employees, including nearly 210
investment professionals, and is headquartered in New York, with
associated offices elsewhere in the U.S., Europe, and Asia. For more
information, visit www.angelogordon.com.
Nathaniel Garnick/Amanda Klein
Gasthalter & Co.