Fundraising Baby Steps – Angelo Gordon Distressed Fund
Angelo Gordon & Co. has raised $258 million toward a distressed debt fund called AG Capital Recovery Partners VII, L.P. The vehicle has a $3 billion target and will invest in secured senior debt instruments of companies near or in Chapter 11. Angelo Gordon launched the effort earlier this year, and so far has commitments from 49 investors. LA Fire committed $35 million, while CalSTRS committed $100 million. Fresno County Employees’ Retirement Association is considering making a commitment to the fund as it seeks to expand its secondary and distressed investments.
31 August 2009•1 min read
