PE Firm · Capital Allocator

Angelo, Gordon & Co.

Medium
New York City, U.S. · Founded 1988 · AUM $73 billion · Website
Distressed SecuritiesReal Estate Private EquityCreditMulti-strategyConvertible ArbitrageRisk ArbitrageDirect LendingNet LeaseReal EstateEnergyConsumer DebtCorporate CreditDistressed DebtNorth AmericaEuropeAsia-Pacific
Last verified
8/19/2026

Firm Overview

24
Portfolio tracked
5
Sectors
3
Regions
8/19/2026
Last verified

TPG Angelo Gordon is a global alternative investment manager that specializes in credit, real estate, and private equity strategies.

Founded in 1988 by John Angelo and Michael Gordon, the firm originally focused on distressed securities, risk arbitrage, and convertible arbitrage based on the founders' experience at L.F. Rothschild. Over the decades, the firm expanded into a multi-strategy platform, adding leveraged loans, opportunistic real estate, and core plus real estate strategies. It significantly grew its footprint by launching dedicated Asian and European real estate funds and expanding into net lease and real estate debt.

The firm played a notable role during the 2008 financial crisis as one of nine private firms to partner with the U.S. Department of the Treasury in the Public-Private Investment Program (PPIP) to unlock credit markets. In the following years, it expanded into middle-market direct lending through its subsidiary Twin Brook Capital Partners. In November 2023, the firm was acquired by TPG Inc. for approximately $2.7 billion and now operates as a subsidiary of the global private equity giant.

Founded1988
HeadquartersNew York City, U.S.
AUM$73 billion
Employees650
StrategiesDistressed Securities, Real Estate Private Equity, Credit, Multi-strategy, Convertible Arbitrage, Risk Arbitrage, Direct Lending, Net Lease
Sector focusReal Estate, Energy, Consumer Debt, Corporate Credit, Distressed Debt
Geographic focusNorth America, Europe, Asia-Pacific

Leadership

John Angelo
Co-founder
A co-founder who previously ran the arbitrage department of L.F. Rothschild.
Michael Gordon
Co-founder
A co-founder who stepped down as CEO in 2021 after previously leading the firm's investment strategies.
Josh Baumgarten
Co-CEO and Co-CIO
Appointed co-CEO in 2021 and also leads the firm's credit business.
Adam Schwartz
Co-CEO and Co-CIO
Appointed co-CEO in 2021 and serves as the head of the firm's global real estate group.

Notable Investments

Twin Brook Capital Partners245 Park AvenueDelta Financial

Historical and current deals referenced in public sources.

Portfolio Companies

CompanySectorStatusWebsite
Arcura Medical PropertiesCurrent
Aseem Infrastructure FinanceInfrastructure FinanceCurrent
Cambridge Mobile TelematicsAI-Driven Road SafetyCurrent
Cambridge Mobile Telematics (CMT)AI-Driven Road Safety / TelematicsCurrent
DeployCoCurrent
ECHO RealtyReal Estate / RetailCurrent
ESRJapanese Logistics AssetsCurrent
FindhelpCurrent
HologicCurrent
IntersectExited
IPX PowerIndependent Power ProducerCurrent
LearfieldCollege Sports Media Sales and TechnologyCurrent
Liberty Waste SolutionsSustainable Waste InfrastructureCurrent
Madison International RealtyReal Estate / Student HousingCurrent
One Aged CareSenior Healthcare ServicesCurrent
OpenAITechnology / AI (Partnership)Current
OpenAI (DeployCo)AI / TechnologyCurrent
PeppertreeCurrent
Redfearn CapitalReal Estate / IndustrialCurrent
Smith + HowardProfessional Services / AccountingCurrent
Third Wave InsuranceCurrent
Velotic™Industrial & Manufacturing SoftwareCurrent
Waste EliminatorSustainable Waste InfrastructureCurrent
ZumConnected Mobility Experience (CMX)Current

Source: angelogordon.com/portfolio

Portfolio Web Readiness

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Sources

This profile is based on publicly available information and may be incomplete or outdated. PE Firm Index is not affiliated with Angelo, Gordon & Co. and does not provide investment advice.

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