NEW YORK CITY—Angelo, Gordon & Co. co-founder John Angelo has died. The 74-year-old executive—who for 27 years jointly led the firm with co-founder Michael Gordon—died on Jan. 1 following a long battle with cancer, according to Bloomberg News.
Prior to founding Angelo, Gordon, the firm's website states, John Angelo was associated with L.F. Rothschild for 18 years. At that firm, he managed proprietary capital in world markets, with particular emphasis on convertible securities, options, futures and distressed securities.
Angelo became a partner in 1975 and vice chairman; in 1985 he was tapped as a member of the board of directors of the public company. He began his finance career in 1966 working on the bond floor of the New York Stock Exchange.
A statement by Gordon sent to employees on Jan. 2nd says in part, "If John were standing by my side, he would be the first one to remind us that the girm is on a strong footing and that our main priority is serving our clients. He would be angry if I spent too much time dwelling on the past or mourning. He would encourage me to be optimistic, and to look forward.
"John and I founded the firm over 27 years ago. We wanted to have the highest ethical standards, attract the most talented investment professionals, and to help our clients be as successful as possible. We had no idea how successful we would be, and our clients would be, by adhering to those simple objectives.
"Today we have nearly 400 talented professionals spread across major cities in the US, Europe and Asia. We manage $26 billion for our clients across a dozen different credit, real estate and private equity strategies. John was one of the most forward-looking people I have known, and a driving force in achieving success for our clients and for us."
Angelo is survived by his wife, Judy, and their three children: Jack, Jesse and Kate, notes Bloomberg News.
Angelo, Gordon was an early investor in Manhattan's Chelsea Market, which helped put the Meatpacking District on the map, son Jesse Angelo, CEO of News Corp.'s New York Post, tells Bloomberg.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
