Angelo, Gordon & Co.
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| Private | |
| Industry |
Alternative Investment Management products = Distressed securities, hedge funds, Leveraged buyouts |
| Founded | 1988 |
| Headquarters |
245 Park Avenue New York City, New York, U.S. |
| Total assets | $27 billion |
| Website | www.angelogordon.com |
Alternative Investment Management
Angelo Gordon & Company is an American alternative investment manager founded in November 1988 by John M. Angelo and Michael L. Gordon who together ran the arbitrage department of L.F. Rothschild in the 1980s.
The firm is 100% employee-owned, SEC-registered, and has nearly 420 employees and more than 160 investment professionals. Angelo, Gordon focuses on four main investment disciplines: credit, real estate, private equity, and multi-strategy. Within those broad categories, the firm offers products in distressed debt and non-investment grade corporate credit, convertible and merger arbitrage, residential and consumer debt, energy direct lending, real estate private equity, real estate debt and lending, net lease real estate, private equity, multi-strategy, and middle market direct lending. Angelo, Gordon offers two types of investment structures: open-ended hedge fund products and closed-ended private equity-style products.
The firm is headquartered in New York City with additional offices worldwide including in San Francisco, Los Angeles, Chicago, Houston, London, Amsterdam, Hong Kong, Seoul, Frankfurt and Tokyo.
John Angelo and Michael Gordon founded the firm on strategies with which they had 15 years prior experience: distressed securities, risk arbitrage, and convertible arbitrage. The multi-strategy platform was added in 1993 as a way to offer investors a single fund which captured many of Angelo, Gordon’s investment strategies and which could tactically allocate as markets shifted. In 1998, the leveraged loan business was added as an extension of the distressed debt business.
The firm began buying real estate as early as 1990 through investments in the distressed debt of bankrupt real estate companies. In 1993, as real estate markets buckled under the weight of too much debt, the firm launched its opportunistic real estate strategy investments with the goal of improving and repositioning the property by increasing operating income.
In early 2002, the company added core plus real estate to its real estate strategies as it was able to benefit from its operating partner network, and purchase high quality real estate. Since 2005, the firm has expanded its real estate offerings through a dedicated opportunistic Asian real estate strategy. In the wake of the global financial crisis of 2008 and the European banking crisis of 2011, Angelo, Gordon added European real estate to its strategies as prices were depressed and liquidity was severely curtailed in the region.
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Wikipedia