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Angelo, Gordon Raises More Than $2.7B for its Largest Direct Lending Fund to Date

June 19, 2019, 08:55 AM
Filed Under: Industry News
Related: Angelo Gordon

Angelo, Gordon & Co., L.P., a $33 billion alternative investment firm focused on credit and real estate investing, announced that it has raised over $2.75 billion in equity commitments for AG Direct Lending Fund III, exceeding the Fund’s $2 billion target and making this the Firm’s largest direct lending fund to date. The Fund is managed by Twin Brook Capital Partners, Angelo Gordon’s middle market direct lending subsidiary.

Consistent with Twin Brook’s distinctive approach, the Fund will seek to capitalize on the long-term investment opportunities in middle market direct lending by sourcing, underwriting, and actively managing a diversified portfolio of middle market, floating rate, senior secured loans, with a focus on providing first lien secured debt to lower middle market, sponsor-backed companies. Twin Brook targets senior financing opportunities up to $200 million, with hold sizes across the platform ranging from $25 million up to $150 million. The Fund benefits from Twin Brook’s flexible product suite and customized financing solutions, which also allows for opportunistic investments in second lien, mezzanine, and equity co-investments.

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

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