Angelo, Gordon & Co. closed its latest real estate fund, the $2.75 billion AG Realty Value Fund X, exceeding its $2.5 billion target, a spokeswoman said.
AG Realty Value Fund X is 112% larger than the prior fund in the series of real estate funds, the $1.3 billion AG Realty Fund IX that closed in December 2014.
The fund has a flexible mandate that allows firm executives to invest in properties with risk profiles ranging from core-plus to opportunistic.
Investors in the fund include the $33.2 billion Texas Permanent School Fund, Austin; $25.8 billion Mississippi Public Employees' Retirement System, Jackson; $16.6 billion Hawaii Employees' Retirement System, Honolulu; $15.9 billion Oklahoma Teachers' Retirement System, Oklahoma City; $8.2 billion Alameda County Employees' Retirement Association, Oakland; and $3.2 billion Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund.
