Angelo, Gordon & Co.

Founded in 1988 by John Angelo and Michael Gordon, TPG Angelo Gordon began as an investment firm focused on distressed securities, risk arbitrage, and convertible arbitrage. Over several decades, the firm expanded into a broad range of alternative investment strategies, including real estate private equity beginning in 1993 and net lease real estate in 2005. The firm became a significant player in the credit markets, particularly through its participation in the U.S. Treasury's Public-Private Investment Program during the 2008 financial crisis.

In recent years, the firm has continued to diversify its offerings into middle-market direct lending through subsidiaries like Twin Brook Capital Partners and has expanded its international footprint with offices across Europe and Asia. In November 2023, the firm underwent a major structural change when it was acquired by TPG Inc. for approximately $2.7 billion, leading to its current branding as TPG Angelo Gordon. Despite the acquisition, it continues to operate as a significant subsidiary within the TPG ecosystem, managing billions in assets across global markets.