Angelo Gordon’s Second Euro Fund Exceeds Target

NEW YORK CITY—Angelo Gordon reports it has closed its second European realty fund, having raised a total of $843 million in equity commitments.

The New York City-based alternative investment firm reports the investment capital raised for its AG Europe Realty Fund II exceeds the fund’s original $750-million target.

“We are pleased with the support we received from new and existing investors for our second European realty fund,” said Adam Schwartz, co-CIO and head of real estate at Angelo Gordon. “European real estate is a market we monitored for nearly a decade before we began investing in 2009.” The company notes that in the past nine years it has invested in approximately $2 billion of assets covering 42 transactions in Europe.

The second European fund was oversubscribed and received strong backing from existing Angelo Gordon investors as well as from a number of new global institutional investors.

Anuj Mittal, co-portfolio manager of European real estate at Angelo Gordon, says, “The real estate sector in Western Europe and the U.K. is still experiencing substantial levels of distress and dislocation. We believe our focus on buying transitional assets in geographies with strong fundamentals has proven successful and by using our large network of local partners, we are well-positioned to select the best risk-adjusted return opportunities in the region.”

Angelo Gordon’s AG Europe Realty Fund, L.P. closed in 2014 with approximately $570 million in commitments. Some of that fund’s more notable purchases included 55 Gresham St. in London, Gran Via 30 in Madrid, Nieuwe Vaart 5-9 in Amsterdam and a three-asset office portfolio in Paris.