Angelo Gordon wraps up second European realty fund at $843 mln

Angelo Gordon has closed its oversubscribed second European realty fund at $843 million, beating its $750 million target. AG Europe Realty Fund II will focus on U.K. and Western Europe sub-performing distressed debt, office, retail, hotel, industrial and residential assets. In 2014, Angelo Gordon closed its debut European realty fund at about $570 million.


NEW YORK – May 3, 2018 – Angelo Gordon, a $28 billion alternative investment firm focused on credit and real estate investing, today announced that it has successfully closed its second European realty fund, AG Europe Realty Fund II (the “Fund”) at $843 million in equity commitments, exceeding the Fund’s $750 million target.

Consistent with Angelo Gordon’s approach to global real estate investing, the Fund will seek to identify complex and off-market investment opportunities with a focus on U.K. and Western Europe sub-performing distressed debt, office, retail, hotel, industrial and residential assets.

The Fund received strong backing from existing Angelo Gordon investors, and also welcomed a number of new global institutional investors. The Fund was oversubscribed.

“We are pleased with the support we received from new and existing investors for our second European realty fund,” said Adam Schwartz, co-CIO and Head of Real Estate at Angelo Gordon. “European real estate is a market we monitored for nearly a decade before we began investing in 2009. Today we have a dedicated team of investment professionals, coupled with a network of approximately 40 trusted operating partners who bring robust knowledge of their local markets, allowing us to uncover and capitalize on distinctive opportunities.”

Anuj Mittal, co-Portfolio Manager of European Real Estate at Angelo Gordon added: “The real estate sector in Western Europe and the U.K. is still experiencing substantial levels of distress and dislocation. We believe our focus on buying transitional assets in geographies with strong fundamentals has proven successful and by using our large network of local partners, we are well-positioned to select the best risk-adjusted return opportunities in the region.”

Angelo Gordon’s AG Europe Realty Fund, L.P. closed in 2014 with approximately $570 million in commitments. Since 2009, the firm has invested in approximately $2 billion of assets across 42 transactions in Europe.

Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 450 employees, including nearly 170 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia.

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