Angelo Gordon Closes $1.3B Asia Real Estate Fund

NEW YORK CITY—Angelo, Gordon & Co., L.P., a credit and real estate investment firm valued at $34 billion, has closed AG Asia Realty Fund IV with $1.3 billion in equity commitments. The fund will focus on value-add and development opportunities in major Asian markets, acquiring assets for repositioning, lease-up for stabilization and select sites for development. Japan, China, South Korea and Hong Kong are at the top of its list.

Angelo, Gordon views Asia as a wellspring for investment opportunities. The company has committed over $2.5 billion of equity in 83 real estate transactions in Asia beginning in 2005. To further build upon its success in the market, it’s maintaining relationships with a network of local operating partners to identify properties that could improve in asset performance, and drive investor value.

AG Asia Realty Fund IV has a diverse investor base, including longtime global institutional investors, some who have committed to predecessor fund AG Asia Realty Fund III, which closed in 2016 at an estimated $850 million. “We are thankful for our new and returning investors’ confidence in our strategy and approach, which have remained consistent and contributed to the solid growth of our platform over the past 13 years,” said Head of Asia Real Estate Wilson Leung.

Angelo Gordon’s successful close of AG Asia Realty Fund IV is another win to add on top of the close of its latest US real estate fund, AG Realty Value Fund X, which combined brought in over $2.75 billion of new capital to the company’s global real estate platform.