Angelo Gordon has hired four investment professionals to focus on energy investments, a new strategy for the firm. The energy team will establish Angelo Gordon’s first office in Houston, Texas.
The team will be led by Todd Dittmann, former managing director at natural resources-focused investment bank Global Hunter Securities. Prior to working at Global Hunter, Dittmann was a managing director at investment banks SunTrust Bank and Imperial Capital. The other members of the team are managing directors Damon Putman and David Taylor and associate Paul Gottheim.
“We made a strategic decision to enter the energy space based on the substantial size of the industry and the unprecedented need for the industry to raise capital,” David Roberts, Angelo Gordon’s chief operating officer, said in a statement. “Given our firm’s deep background in credit, we decided to address energy through a credit-oriented approach that will allow us to efficiently lend to the industry.”
As an investment and finance professional focused on the energy industry, Dittmann has completed roughly 85 senior-secured, mezzanine, equity and other investments as a principal investor or lender, according to the statement.
Putman and Taylor have been involved in the sourcing, evaluation and closing of over 50 senior secured, mezzanine and equity investments.
Dittmann’s energy team, which is not bringing any assets to Angelo Gordon, will focus on making loans of between $20 million and $60 million. It is unclear whether the firm has plans to raise an energy-focused fund.
Angelo Gordon manages roughly $24 billion and has other US offices in New York, Los Angeles, San Francisco, Chicago and Washington DC.