NEW YORK & CHICAGO–(BUSINESS WIRE)–Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $33
billion alternative investment firm focused on credit and real estate
investing, today announced that it has raised over $2.75 billion in
equity commitments for AG Direct Lending Fund III (the “Fund”),
exceeding the Fund’s $2 billion target and making this the Firm’s
largest direct lending fund to date. The Fund is managed by Twin Brook
Capital Partners (“Twin Brook”), Angelo Gordon’s middle market direct
lending subsidiary.
Consistent with Twin Brook’s distinctive approach, the Fund will seek to
capitalize on the long-term investment opportunities in middle market
direct lending by sourcing, underwriting, and actively managing a
diversified portfolio of middle market, floating rate, senior secured
loans, with a focus on providing first lien secured debt to lower middle
market, sponsor-backed companies. Twin Brook targets senior financing
opportunities up to $200 million, with hold sizes across the platform
ranging from $25 million up to $150 million. The Fund benefits from Twin
Brook’s flexible product suite and customized financing solutions, which
also allows for opportunistic investments in second lien, mezzanine, and
equity co-investments.
The Fund received strong backing from existing Angelo Gordon investors
and welcomed a number of new global institutional investors.
“I’d like to thank our new and returning investors for their support and
confidence in our strategy. The robust reception this Fund received is a
testament to our deep bench of talent, differentiated platform, and
unique focus on the lower middle market,” said Twin Brook Founder and
Managing Partner Trevor Clark. “With over $5 billion of buying power
from this Fund, our experienced team is well positioned to execute on
our strong pipeline of opportunities and continue our tradition of
providing leadership, support, and financing solutions to our private
equity clients.”
Twin Brook focuses on loans to private equity-owned companies with
EBITDA between $3 million and $50 million, with an emphasis on companies
with $25 million of EBITDA and below. Since inception in the fourth
quarter of 2014, Twin Brook has closed transactions with over 170
borrowers involving more than 75 different private equity firms, and
currently has over $7.6 billion of total commitments to its portfolio
companies.
AG Direct Lending Fund II closed in 2017 and raised $2.3 billion in
total equity capital between the fund and separately managed accounts.
ABOUT ANGELO, GORDON & CO., L.P.
Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held limited
partnership founded in November 1988. The Firm currently manages
approximately $33 billion with a primary focus on credit and real estate
strategies. Angelo Gordon has 510 employees, including nearly 210
investment professionals, and is headquartered in New York, with
associated offices elsewhere in the U.S., Europe, and Asia. For more
information, visit www.angelogordon.com.
ABOUT TWIN BROOK CAPITAL PARTNERS
Twin Brook Capital Partners is a finance company focused on providing
cash-flow based financing solutions for the middle market private equity
community. The firm is managed by highly experienced, dedicated
professionals who have successfully worked together throughout their
careers at leading middle market lending institutions. Twin Brook’s
flexible product suite allows for tailored financing solutions for
leveraged buyouts, recapitalizations, add-on acquisitions, growth
capital, and other situations. For more information, visit www.twincp.com.
Contacts
MEDIA
Kaitlin Bilby
(212) 692-8231
[email protected]
Amanda Klein/Kevin FitzGerald
Gasthalter & Co.
(212)
257-4170
