Angelo, Gordon, the New York-based investment advisory firm, has raised $252 mln (€225 mln) for its second European fund, PropertyEU has learned.
The company held a first close on Monday for AG Europe Realty Fund II towards a target of $750 mln – meaning it is one third complete after officially launching in February this year. The firm began marketing the follow-on to AG Europe Realty Fund I after that vehicle reached the 70%-invested stage.
Angelo, Gordon's real estate private equity business is co-led in Europe by Anuj Mittal based in Amsterdam and Adam Schwartz, who is based in New York and also heads US real estate.
It has previously been reported that Pennsylvania Public School Employees' Retirement System has agreed to invest $100 mln in the strategy, which is to target value-add opportunities across the region.
Angelo, Gordon & Co was founded in 1988 and employs around 420 staff to manage $27 bn across various alternative asset classes. The firm began investing in real estate in 1993 and has acquired over $13 bn of property in the US, Europe and Asia since that time.
The investment advisory has offices in New York, Los Angeles, London, Amsterdam, Frankfurt, Hong Kong, Seoul and Tokyo. As well as real estate, the firm manages credit, private equity and multi-strategy funds.
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Photo: Anuj Mittal
