Real Estate: Angelo Gordon Raises Over $1.5 Billion for Europe Fund

Angelo Gordon, a global alternative investment firm, raised more than $1.5 billion for a real estate fund.  After surpassing the $1.2 billion target, the real estate fund will focus on undervalued assets to add to its portfolio.  Angelo Gordon currently manages $35 billion reaching across credit and real estate markets.  Since 2009, Angelo Gordon has purchased more than $4 billion in 75 real estate transactions across Europe.  The firm is based in New York and has additional offices in Europe and Asia.  The firm is run by a total of 500 employees, 200 of which are investment professionals.  

Co-CIO of Angelo Gordon, Adam Schwartz, attributes the fund’s success to the firm’s investors.  In a statement, Schwartz claimed “Out limited partners’ robust response speaks to the talent of our experienced team and depth of our industry expertise, which paired with our strong network of trusted operating partners, create a distinctive edge when it comes to deal sourcing, improving asset performance, and value creation.”  With the firm’s team of investors, Angelo Gordon will focus on investments in the United Kingdom and in other European markets.

The firm will focus on these markets because of the distressed real estate sector in these areas.  Adding investments to these distressed markets will lead to high returns for the fund.  According to co-portfolio manager Anuj Mittal, the UK and Western Europe have a large presence of distressed debt resulting from weakening economies.  Angelo Gordon’s real estate fund will focus on an uncertain political and economic future as they may yield high returns.  Mittal stated “Significant levels of dislocation and distress in the real estate sector in the UK and Western Europe persist, with political uncertainty, weak banks, and sluggish economies contributing to the emergence of new pockets of stress.”  Additionally, the firm will have to consider the Covid-19 pandemic as a new factor in the distressed debt real estate market.  Ultimately, this should lead to more investment opportunities and possibly higher returns in the long run.  

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