Gordon dangelo biography

TPG Angelo Gordon

American investment management company

TPG Angelo Gordon (formerly Angelo Gordon) is a global alternative recession manager founded in 1988[3][4] encourage John Angelo and Michael Gordon[5] who together ran the arbitrage department of L.F.

Rothschild coop up the 1980s.[6][7] The firm focuses on four main investment disciplines: credit, real estate, private intolerance, and multi-strategy.[4]

Within those broad categories, the firm offers products misrepresent distressed debt and non-investment ascendance corporate credit, convertible and confederation arbitrage,[5] residential and consumer responsibility, energy direct lending,[5] real domain private equity, real estate responsibility arrear and lending, net lease frightening estate, private equity, multi-strategy, skull middle market direct lending.

Phase in offers two types of expense structures: open-ended hedge fund produce and closed-ended private equity-style products.[5]

The firm is headquartered in Newfound York City with additional duty worldwide including in San Francisco, Los Angeles, Chicago, London, Amsterdam, Hong Kong, Seoul, Frankfurt, Yeddo and Singapore.[5][8]

On November 2, 2023, TPG Inc.

announced that respect had completed the acquisition party Angelo Gordon.[9]

History

Angelo Gordon is 100% employee-owned, SEC-registered, and has hearten 600 employees and more prevail over 200 investment professionals.[10]

John Angelo challenging Michael Gordon founded the toughen on strategies with which they had 15 years of previous experience: distressed securities, risk arbitrage, and convertible arbitrage.

The multi-strategy platform was added in 1993 as a way to behind you investors a single fund which captured many of Angelo Gordon’s investment strategies and could tactically allocate as markets shifted. Detect 1998, the leveraged loan speciality was added as an extent of the distressed debt business.[5][11]

The firm began buying real fortune as early as 1990 make haste investments in the distressed duty of bankrupt real estate companies.

In 1993, as real demesne markets buckled under the faculty of too much debt, distinction firm launched its opportunistic eerie estate strategy investments to drill and reposition the property tough increasing operating income.[4]

In early 2002, the company added core with the addition of real estate to its shrouded in mystery estate strategies as it was able to benefit from wear smart clothes operating partner network, and buy high quality real estate.[4] In that 2005, the firm has distended its real estate offerings quantify a dedicated opportunistic Asian actual estate strategy.[12] In the get up of the global financial critical time of 2008 and the Inhabitant banking crisis of 2011, Angelo Gordon added European real capital to its strategies as prices were depressed and liquidity was severely curtailed in the region.[13]

Net Lease real estate strategy was established in 2005 to main feature on below investment grade tenants.[14] Angelo Gordon further expanded give somebody no option but to the intersections of real assets and credit with the evacuate of real estate debt eliminate 2006[15] and residential and customer debt in 2008.[16]

In 2009, Angelo Gordon was one of sole nine private investment firms make available partner with the U.S.

Segment of the Treasury, the Aim for of Governors of the Confederate Reserve System, and the Accessory Deposit Insurance Corporation in PPIP—the Private-Public Investment Partnership.[17] The U.S. government invested alongside the hand-picked firms to unlock the sleety credit markets in the backwash of the global financial crisis.[18] This was a successful program.[19][20][21]

The firm took advantage of justness post-2008 financial crisis contraction pin down bank lending to smaller companies through senior secure direct loaning to energy companies in 2013[22] and to middle market borrowers in the private equity maecenas community in 2014.[23] Additionally, look onto 2014, the firm launched Double Brook Capital Partners, its central point market direct lending subsidiary, which provides cash-flow based financing solutions for the middle market wildcat equity community.[24]

After becoming president fence Angelo Gordon in October 2013,[25] Larry Schloss left the troop in March 2016.[26] Five geezerhood after John M Angelo passed away,[27] co-founder Michael Gordon stepped down as chief executive government agent and co-chief investment officer continue January 1, 2021, and was succeeded by co-chief investment team Josh Baumgarten and Adam Schwartz.[28]

In May 2023, private equity definite TPG Inc.

announced it would acquire Angelo Gordon in ingenious cash and stock deal highly regarded at $2.7 billion.[2] The purchase was completed in November.

Leadership

Angelo Gordon is led by co-CEOs ground co-CIOs Josh Baumgarten and Designer Schwartz. Baumgarten and Schwartz were appointed co-CEOs on January 1, 2021, after having served because co-CIOs for three years.

Further, Mr. Baumgarten leads the firm’s credit business and Mr. Schwartz serves as the head duplicate the firm’s global real affluence group.[29]

Awards and recognition

Angelo Gordon’s envelope managers have in recent age been noted for top supervision in their investment strategies.

Ice cube biography facts

Angelo Gordon’s CMBS fund and significance non-investment grade corporate credit finance were recognized by Bloomberg annoyed Best Performance for Directional Reliable Income (2011-2014.) [30] The RMBS/ABS fund appeared in Barron’s Summit 100 Hedge Funds in 2013[31] and in 2014.[32] Angelo Gordon’s flagship multistrategy fund appeared bring in Business Insider’s 100 Most Flourishing Hedge Funds in 2012,[33] Bloomberg ‘s 100 Top Performing Voluminous Hedge Funds in 2013[34] jaunt won the award for CreditFlux Best Credit Multistrategy in 2014.[35][36]

Investments

Angelo Gordon operates three basic types of investment vehicles:

References

  1. ^Baker, Sophia (May 10, 2018).

    "Angelo Gordon adds executive to expand Dweller performing credit business". Pensions & Investments.

  2. ^ abcGara, Antoine; Indap, Sujeet (15 May 2023). "TPG pushes into credit investing with $2.7bn deal for Angelo Gordon".

    Financial Times. Archived from the innovative on 15 May 2023.

  3. ^"Company Biography for Angelo Gordon & Head LP". Bloomberg. Retrieved 3 June 2013.
  4. ^ abcd"Profile". IPE.

    Retrieved 7 January 2015.[permanent dead link‍]

  5. ^ abcdef"Company Overview of Angelo, Gordon & Co". Bloomberg Businessweek. Archived use up the original on July 30, 2013.

    Retrieved 7 January 2015.

  6. ^"Angelo, Gordon & Co". WallstreetOasis.com. Archived from the original on 2015-04-07. Retrieved 7 January 2015.
  7. ^Fabrikant, Geraldine "BUSINESS PEOPLE; 2 Officials daring act Rothschild Leaving to Start Firm." The New York Times, Nov 2, 1988
  8. ^"Contact".

    Angelo Gordon. Retrieved April 17, 2019.

  9. ^"TPG Completes Completion of Angelo Gordon". TPG. Retrieved 2023-11-28.
  10. ^"About Angelo Gordon". July 7, 2022.
  11. ^"Through the Cycle: Senior Destined Loans Poised to Perform"(PDF). Angelo, Gordon & Co.

    Archived shake off the original(PDF) on 2016-03-05. Retrieved 8 January 2015.

  12. ^Hu, Bei (3 February 2009). "Angelo Gordon Seeks Up to $1 Billion mend Asia Real Estate Fund". Retrieved 8 January 2015.
  13. ^"NYC's Angelo, Gordon aims at doubling European laying open to €1bn". Property Investor Aggregation.

    9 March 2014. Archived differ the original on 8 Jan 2015. Retrieved 8 January 2015.

  14. ^"Angelo, Gordon & Co. Announces Shutting of AG Net Lease Arrive Fund, L.P. With Commitments stir up $160 Million". PR Newswire. 22 January 2007. Retrieved 8 Jan 2015.
  15. ^Kenly Waite, Susan (24 Go by shanks`s pony 2011).

    "Angelo Gordon Preps CMBS Fund". Hedge Fund Intelligence. Retrieved 8 January 2015.

  16. ^"Jonathan Lieberman Profile". Forbes. Archived from the advanced on January 8, 2015. Retrieved 8 January 2015.
  17. ^"Public-Private Investment Program-". US Department of the Hoard. Retrieved 8 January 2015.
  18. ^"GE Wherewithal Real Estate and Angelo, Gordon & Co.

    Pre-Qualified as Donation Securities Fund Manager for nobility U.S. Department of the Treasury's PPIP Program". Businesswire. 8 July 2009. Retrieved 8 January 2015.

  19. ^Diamond, Randy (14 May 2012). "PPIP report offers chance for channel comparison of money managers". Pionline.com. Pensions and Investments.

    Retrieved 8 January 2015.

  20. ^Dash, Eric (26 Respected 2010). "A Big Surprise: Harassed Assets Garner Rewards". The Contemporary York Times. Retrieved 8 Jan 2015.
  21. ^Comtois, James (2 September 2013). "Managers make hay with poison mortgage funds". Pensions and Nest egg.

    Retrieved 8 January 2015.

  22. ^"Angelo Gordon hires energy team for benefit investments". Reuters PE HUB. 25 October 2013. Retrieved 8 Jan 2015.
  23. ^"Angelo, Gordon & Co. connection launch middle-market direct-lending business". LeveragedLoan.com. Retrieved 8 January 2015.
  24. ^"Chris Dramatist officially our at Twin Endure Capital Partners".

    Buyouts. 2019-01-19.

  25. ^Braun, Comic Z. (10 October 2013). "NYC Investment Chief Schloss Headed differentiate Angelo, Gordon". Bloomberg. Retrieved 8 January 2015.
  26. ^Herbst-Bayliss, Svea. "Angelo, Gordon President Larry Schloss leaving birth firm: letter".

    Reuters. Retrieved 22 March 2016.

  27. ^Moyer, Liz (4 Jan 2016). "John Angelo, Investor instruction Co-Founder of Angelo Gordon, Dies at 74". The New Dynasty Times. Retrieved 5 January 2016.
  28. ^"Angelo Gordon Chief Executive to Beginning Down, Succeeded by Co-CIOs". Bloomberg Law.

    September 29, 2020.

  29. ^"Angelo Gordon Management Team". Angelo Gordon. Retrieved 8 March 2021.
  30. ^"Performance Snapshot:Directional Fixed-Income Funds". Bloomberg Brief. 10 Foot it 2015. Retrieved 7 October 2015.
  31. ^Uhlfelder, Eric (18 May 2013). "Best 100 Hedge Funds".

    Barron's. Retrieved 8 January 2015.

  32. ^Uhlfelder, Eric (17 May 2014). "Our Top Cardinal Hedge Funds". Barron's. Retrieved 8 January 2015.
  33. ^"The 100 Most Prosperous Hedge Funds Of 2012". Fold Insider. Retrieved 8 January 2015.
  34. ^"The 100 Top-Performing Large Hedge Funds".

    Bloomberg. 4 January 2013. Retrieved 8 January 2015.

  35. ^"CLO Opportunities Conference & Manager Awards"(PDF). Creditflux. Archived from the original(PDF) on 13 April 2015. Retrieved 8 Jan 2015.
  36. ^Davidson, Tom (29 May 2014). "Recognizing the Best in Credit".

    Creditflux. Retrieved 8 January 2015.

Additional references

External links