Lawrence Schloss is joining Angelo, Gordon & Co as president on in November. Schloss is currently the deputy comptroller for asset management and CIO for the New York City Retirement Systems.
Angelo, Gordon & Co., the New York based alternative investment firm, today announced that Lawrence M. Schloss, currently the Deputy Comptroller for Asset Management and Chief Investment Officer for the New York City Retirement Systems (NYCRS), is joining Angelo, Gordon as President on Monday, November 11.
John Angelo, co-founder of Angelo, Gordon & Co., stated: “We are pleased Larry is joining us as President. He is a seasoned investment professional who has provided leadership and insight to both public and private institutions including NYCRS, Credit Suisse, DLJ and others.” Michael Gordon, also a co-founder of Angelo, Gordon, added “We expect Larry will apply his experience and insights to help us deliver on our only priority, which is to meet the evolving and challenging investment needs of our investors.” Mr. Schloss will be an important addition to the Firm’s executive and investment talent, will become the tenth member of the Firm’s Executive Committee, and will become a partner in the employee-owned firm.
Mr. Schloss noted he is excited to be joining Angelo, Gordon & Co. “Angelo, Gordon & Co. has a long history of delivering outstanding returns across a large number of credit, real estate, private equity and other strategies regardless of the market environment. I am pleased to join such a talented group of proven investment professionals, and look forward to working with them and their clients in achieving their clients’ objectives.”
Mr. Schloss currently serves as the Chief Investment Officer for New York City’s five public pension funds (teachers, employees, police, fire and board of education), commonly referred to as NYCRS. NYCRS is the fourth largest public pension fund in the US (behind CalPERS, CalSTRS and the State of New York) and the largest municipal public employee retirement system in the United States, with approximately $145 billion in assets under management. The funds cover more than 680,000 active and retired city and city-affiliated employees. During Mr. Schloss’s almost four year tenure as New York City’s CIO, he grew pension assets from approximately $100 billion to $145 billion, helped achieve an annualized rate of return of 11.9% (vs. a 7% actuarial assumption) for the three fiscal years ended June 30, 2013, substantially re-positioned NYCRS’s long-term and tactical allocations, expanded into new asset classes such as hedge funds, leveraged loans and infrastructure, and aggressively increased allocations to private equity, opportunistic fixed income and real estate. Larry also tackled large public pension fund issues such as governance, internal investment management, investment discretion, the procurement process, and staff compensation. Larry’s leadership and results were recognized by his peers with Larry being named 2012 CIO of the Year – Large Public Pension Funds by Institutional Investor.
About Angelo, Gordon & Co.
Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988, and currently manages approximately $24 billion. The Firm’s investment focus centers around three core competencies – credit, real estate, and private equity – and manages capital across five principal areas: (i) private equity, (ii) real estate equity and debt and net lease, (iii) residential and commercial mortgage-backed and asset-backed securities, (iv) distressed debt and leveraged loans, and (v) multi-strategy. Angelo, Gordon has approximately 300 employees (110 of whom are investment professionals) and is headquartered in New York, with associated offices elsewhere in the US, Europe and Asia.
Alex J. Stockham
Office: (213) 537-0017
Cell: (646) 251-3736