Angelo, Gordon & Co. closed its first distressed debt and corporate special situations fund, AG Credit Solutions Fund, with $1.8 billion, exceeding its $1 billion target, a Angelo Gordon spokeswoman said.
Angelo Gordon declined to comment beyond a news release, including whether the fund closed at its hard cap.
The fund seeks to provide financing solutions to firms in public and private credit markets that are facing stressed or distressed situations.
Investors in the fund include Michigan Department of Treasury, Bureau of Investments, investing on behalf of the $74.8 billion Michigan Retirement Systems, East Lansing.
