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词条 Angelo, Gordon & Co.
释义

  1. History

  2. Management Committee

  3. Awards and recognition

  4. Investments

  5. References

  6. External links

  7. Additional references

{{undisclosed paid|date=September 2018}}{{Infobox company
| name = Angelo Gordon & Co.
| logo = Angelo-gordon-logo.png
| type = Private
| foundation = {{start date and age|1988}}
| location = 245 Park Avenue
New York City, New York, U.S.
| industry = Alternative Investment Management
| products = Real estate, Credit, Distressed securities, hedge funds, Leveraged buyouts[1]
| assets = $27 billion [2]
| homepage = www.angelogordon.com
}}Angelo Gordon & Company is an American alternative investment manager founded in November 1988[3][4] by John M. Angelo and Michael L. Gordon[5] who together ran the arbitrage department of L.F. Rothschild in the 1980s.[6][7]

The firm is 100% employee-owned, SEC-registered, and has nearly 420 employees and more than 160 investment professionals.[8] Angelo, Gordon focuses on four main investment disciplines: credit, real estate, private equity, and multi-strategy.[4] Within those broad categories, the firm offers products in distressed debt and non-investment grade corporate credit, convertible and merger arbitrage,[5] residential and consumer debt, energy direct lending,[5] real estate private equity, real estate debt and lending, net lease real estate, private equity, multi-strategy, and middle market direct lending. Angelo, Gordon offers two types of investment structures: open-ended hedge fund products and closed-ended private equity-style products.[5]

The firm is headquartered in New York City with additional offices worldwide including in San Francisco, Los Angeles, Chicago, Houston, London, Amsterdam, Hong Kong, Seoul, Frankfurt and Tokyo.[5]

History

John Angelo and Michael Gordon founded the firm on strategies with which they had 15 years prior experience: distressed securities, risk arbitrage, and convertible arbitrage. The multi-strategy platform was added in 1993 as a way to offer investors a single fund which captured many of Angelo, Gordon’s investment strategies and which could tactically allocate as markets shifted. In 1998, the leveraged loan business was added as an extension of the distressed debt business.[5][9]

The firm began buying real estate as early as 1990 through investments in the distressed debt of bankrupt real estate companies. In 1993, as real estate markets buckled under the weight of too much debt, the firm launched its opportunistic real estate strategy investments with the goal of improving and repositioning the property by increasing operating income.[4]

In early 2002, the company added core plus real estate to its real estate strategies as it was able to benefit from its operating partner network, and purchase high quality real estate.[4] Since 2005, the firm has expanded its real estate offerings through a dedicated opportunistic Asian real estate strategy.[10] In the wake of the global financial crisis of 2008 and the European banking crisis of 2011, Angelo, Gordon added European real estate to its strategies as prices were depressed and liquidity was severely curtailed in the region.[11]

Net Lease real estate strategy was established in 2005 to focus on below investment grade tenants.[12] Angelo, Gordon further expanded into the intersections of real estate and credit with the addition of real estate debt in 2006[13] and residential and consumer debt in 2008.[14]

In 2009, Angelo, Gordon was one of only nine private investment firms to partner with the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation in PPIP—the Private-Public Investment Partnership.[15] The U.S. government invested alongside the selected firms to unlock the frozen credit markets in the wake of the global financial crisis.[16] This was a successful program.[17][18][19]

The firm took advantage of the post-2008 financial crisis contraction in bank lending to smaller companies through senior secure direct lending to energy companies in 2013[20] and to middle market borrowers in the private equity sponsor community in 2014.[21]

In October 2013, Larry Schloss became the president of Angelo, Gordon and Co.[22] In March 2016, Mr. Schloss left the firm.[23]

Co-founder John M Angelo died in 2016.[24]

Management Committee

  • Mr. Michael L Gordon: Co-Founder, CEO and Chief Investment Officer (CIO)[25]
  • Mr. Kirk Wickman: Chief Operating Officer [25]
  • Mr. Josh Baumgarten; Co-CIO and Head of Credit Co-Portfolio Manager, Multi-Strategy[26]
  • Mr. Adam Schwartz; Co-CIO and Head of Real Estate [26]

Awards and recognition

Angelo, Gordon’s portfolio managers have in recent years been noted for top performance in their investment strategies. Angelo, Gordon’s CMBS fund and the non-investment grade corporate credit fund were recognized by Bloomberg for Best Performance for Directional Fixed Income (2011-2014.) [27] The RMBS/ABS fund appeared in Barron’s Top 100 Hedge Funds in 2013[28] and in 2014.[29] Angelo, Gordon’s flagship multistrategy fund appeared in Business Insider’s 100 Most Successful Hedge Funds in 2012,[30] Bloomberg ‘s 100 Top Performing Large Hedge Funds in 2013[31] and won the award for CreditFlux Best Credit Multistrategy in 2014.[32][33]

Investments

Angelo Gordon operates three basic types of investment vehicles:

  • Illiquid strategies — include a variety of investment strategies: distressed securities, private equity, triple net lease and real estate.
  • Liquid strategies — credit opportunities, convertible arbitrage and risk arbitrage.
  • Multi-strategy — takes advantage of attractive alternative investment opportunities from a range of the firm's disciplines.

References

1. ^{{cite web |url=https://www.pionline.com/article/20180510/ONLINE/180519983/angelo-gordon-adds-executive-to-expand-european-performing-credit-business|title=Angelo Gordon adds executive to expand European performing credit business|publisher=Pensions & Investments|author=Baker, Sophia|date=May 10, 2018}}
2. ^{{cite web|last1=Murray|first1=Sean|title=Deal Alert: Angelo Gordon Acquires Reliant Funding|url=http://debanked.com/2015/07/deal-alert-angelo-gordon-acquires-reliant-funding/|publisher=deBanked|accessdate=20 September 2015|date=14 July 2015}}
3. ^{{cite web|url=https://www.bloomberg.com/quote/725306Z:US/profile|title=Company Profile for Angelo Gordon & Co LP|publisher=Bloomberg|accessdate=3 June 2013}}
4. ^{{cite web|title=Profile |url=http://asia.ipe.com/realestate/investment-manager-profile/angelo-gordon-co_1287.php?article=1 |publisher=IPE |accessdate=7 January 2015 }}{{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes }}
5. ^{{cite web|title=Company Overview of Angelo, Gordon & Co.|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1689088|publisher=Bloomberg Businessweek|accessdate=7 January 2015}}
6. ^{{cite web|title=Angelo, Gordon & Co.|url=http://www.wallstreetoasis.com/company/angelo-gordon-co|website=WallstreetOasis.com|accessdate=7 January 2015|archive-url=https://web.archive.org/web/20150407022808/http://www.wallstreetoasis.com/company/angelo-gordon-co|archive-date=2015-04-07|dead-url=yes|df=}}
7. ^Fabrikant, Geraldine "[https://www.nytimes.com/1988/11/02/business/business-people-2-officials-at-rothschild-leaving-to-start-firm.html BUSINESS PEOPLE; 2 Officials at Rothschild Leaving to Start Firm]." The New York Times, November 2, 1988
8. ^{{cite web|title=Financial News|url=http://phx.corporate-ir.net/phoenix.zhtml?c=205281&p=irol-newsArticle_Print&ID=2220331|publisher=HFF|accessdate=24 April 2017}}
9. ^{{cite web|title=Through the Cycle: Senior Secured Loans Poised to Perform|url=http://supplement.pionline.com/middle-market-loans/_pdf/LSTA.pdf|publisher=Angelo, Gordon & Co|accessdate=8 January 2015|archive-url=https://web.archive.org/web/20160305035441/http://supplement.pionline.com/middle-market-loans/_pdf/LSTA.pdf|archive-date=2016-03-05|dead-url=yes|df=}}
10. ^{{cite web|last1=Hu|first1=Bei|title=Angelo Gordon Seeks Up to $1 Billion for Asia Real Estate Fund|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPgmi1zQB4DI|accessdate=8 January 2015|date=3 February 2009}}
11. ^{{cite web|title=NYC's Angelo, Gordon aims at doubling European exposure to €1bn |url=http://www.pie-mag.com/articles/7060/nyc-s-angelo-gordon-aims-at-doubling-european-exposure-to-euro-1bn/ |publisher=Property Investor Europe |accessdate=8 January 2015 |date=9 March 2014 |deadurl=yes |archiveurl=https://web.archive.org/web/20150108140943/http://www.pie-mag.com/articles/7060/nyc-s-angelo-gordon-aims-at-doubling-european-exposure-to-euro-1bn/ |archivedate=8 January 2015 }}
12. ^{{cite web|title=Angelo, Gordon & Co. Announces Closing of AG Net Lease Realty Fund, L.P. With Commitments of $160 Million|url=http://www.prnewswire.com/news-releases/angelo-gordon--co-announces-closing-of-ag-net-lease-realty-fund-lp-with-commitments-of-160-million-53651657.html|publisher=PR Newswire|accessdate=8 January 2015|date=22 January 2007}}
13. ^{{cite web|last1=Kenly Waite|first1=Susan|title=Angelo Gordon Preps CMBS Fund|url=http://www.hedgefundintelligence.com/Article/2794072/Angelo-Gordon-preps-CMBS-fund.html|publisher=Hedge Fund Intelligence|accessdate=8 January 2015|date=24 March 2011}}
14. ^{{cite web|title=Jonathan Lieberman Profile|url=https://www.forbes.com/profile/jonathan-lieberman/|publisher=Forbes|accessdate=8 January 2015}}
15. ^{{cite web|title=Public-Private Investment Program-|url=http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/credit-market-programs/ppip/Pages/purpose-and-overview.aspx|publisher=US Department of the Treasury|accessdate=8 January 2015}}
16. ^{{cite web|title=GE Capital Real Estate and Angelo, Gordon & Co. Pre-Qualified as Legacy Securities Fund Manager for the U.S. Department of the Treasury’s PPIP Program|url=http://www.businesswire.com/news/home/20090708006079/en/GE-Capital-Real-Estate-Angelo-Gordon-Pre-Qualified#.VK5XN3uPMUN|publisher=Businesswire|accessdate=8 January 2015|date=8 July 2009}}
17. ^{{cite web|last1=Diamond|first1=Randy|title=PPIP report offers chance for direct comparison of money managers|url=http://www.pionline.com/article/20120514/PRINT/305149946/ppip-report-offers-chance-for-direct-comparison-of-money-managers|website=Pionline.com|publisher=Pensions and Investments|accessdate=8 January 2015|date=14 May 2012}}
18. ^{{cite web|last1=Dash|first1=Eric|title=A Big Surprise: Troubled Assets Garner Rewards|url=https://www.nytimes.com/2010/08/27/business/27toxic.html?_r=1&|publisher=The New York Times|accessdate=8 January 2015|date=26 August 2010}}
19. ^{{cite web|last1=Comtois|first1=James|title=Managers make hay with toxic mortgage funds|url=http://www.pionline.com/article/20130902/PRINT/309029975/managers-make-hay-with-toxic-mortgage-funds|publisher=Pensions and Investments|accessdate=8 January 2015|date=2 September 2013}}
20. ^{{cite web|title=Angelo Gordon hires energy team for credit investments|url=https://www.pehub.com/2013/10/angelo-gordon-hires-energy-team-credit-investments/|publisher=Reuters PE HUB|accessdate=8 January 2015|date=25 October 2013}}
21. ^{{cite web|title=Angelo, Gordon & Co. to launch middle-market direct-lending business|url=http://www.leveragedloan.com/angelo-gordon-co-to-launch-middle-market-direct-lending-business/|website=LeveragedLoan.com|accessdate=8 January 2015}}
22. ^{{cite web|last1=Braun|first1=Martin Z.|title=NYC Investment Chief Schloss Headed to Angelo, Gordon|url=https://www.bloomberg.com/news/2013-10-09/nyc-chief-investment-officer-schloss-to-join-angelo-gordon.html|publisher=Bloomberg|accessdate=8 January 2015|date=10 October 2013}}
23. ^{{cite web|last1=Herbst-Bayliss|first1=Svea|title=Angelo, Gordon President Larry Schloss leaving the firm: letter|url=https://www.reuters.com/article/us-hedgefunds-angelogordon-idUSKCN0WK2P4|publisher=Reuters|accessdate=22 March 2016}}
24. ^{{cite news|last1=Moyer|first1=Liz|title=John Angelo, Investor and Co-Founder of Angelo Gordon, Dies at 74|url=https://www.nytimes.com/2016/01/05/business/dealbook/john-angelo-investor-and-co-founder-of-angelo-gordon-dies-at-74.html|accessdate=5 January 2016|work=The New York Times|date=4 January 2016}}
25. ^{{cite web|title=Angelo Gordon Management Team|url=https://www.angelogordon.com/team.aspx?dept=Management|publisher=Angelo Gordon|accessdate=22 March 2016}}
26. ^{{cite web|last1=Herbst-Bayliss|first1=Svea|title=Angelo, Gordon promotes top executives amid succession planning|url=https://www.reuters.com/article/us-hedgefunds-angelogordon/angelo-gordon-promotes-top-executives-amid-succession-planning-idUSKBN1E52K3|publisher=Reuters succession|date=December 17, 2017}}
27. ^{{cite web|title=Performance Snapshot:Directional Fixed-Income Funds|url=http://bloombergbriefs.com/hedge-funds|publisher=Bloomberg Brief|accessdate=7 October 2015|date=10 March 2015}}
28. ^{{cite web|last1=Uhlfelder|first1=Eric|title=Best 100 Hedge Funds|url=http://online.barrons.com/news/articles/SB50001424052748704253204578469283806191260|publisher=Barron's|accessdate=8 January 2015|date=18 May 2013}}
29. ^{{cite web|last1=Uhlfelder|first1=Eric|title=Our Top 100 Hedge Funds|url=http://online.barrons.com/news/articles/SB50001424053111903843804579532040267881368|publisher=Barron's|accessdate=8 January 2015|date=17 May 2014}}
30. ^{{cite web|title=The 100 Most Successful Hedge Funds Of 2012|url=http://www.businessinsider.com/100-top-hedge-funds-in-2012-2013-1#68-michael-gordon-and-david-kamin-tied-33|publisher=Business Insider|accessdate=8 January 2015}}
31. ^{{cite web|title=The 100 Top-Performing Large Hedge Funds|url=https://www.bloomberg.com/news/2013-01-03/the-100-top-performing-large-hedge-funds.html|publisher=Bloomberg|accessdate=8 January 2015|date=4 January 2013}}
32. ^{{cite web|title=CLO Opportunities Symposium & Manager Awards|url=http://creditflux.com/asset/documents/82dd92c8fb9355e995958dede4f50600.pdf|publisher=Creditflux|accessdate=8 January 2015}}
33. ^{{cite web|last1=Davidson|first1=Tom|title=Recognizing the Best in Credit|url=http://creditflux.com/Newsletter/2014-05-29/Recognising-the-best-in-credit|publisher=Creditflux|accessdate=8 January 2015|date=29 May 2014}}

External links

  • Angelo Gordon & Company (official website)

Additional references

{{refbegin}}
  • "[https://query.nytimes.com/gst/fullpage.html?res=9D05EED7103EF934A1575BC0A9629C8B63 Investors Sue Citigroup]." The New York Times, August 27, 2004
  • "[https://www.nytimes.com/2007/12/07/business/07delta.html Mortgage Firm to File Bankruptcy]." Reuters, December 7, 2007
  • "[https://www.reuters.com/article/fundsFundsNews/idUSN1339042420070613 Angelo Gordon moves into hedge-lite strategies]." Reuters, June 13, 2007
  • "Delta Financial selling big stake to Angelo Gordon." MarketWatch, Nov. 16, 2007
{{refend}}
{{private equity firms}}{{Hedge funds}}{{DEFAULTSORT:Angelo, Gordon and Co.}}

4 : Hedge fund firms in New York City|Private equity firms of the United States|Privately held companies based in New York City|Hedge funds

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