Cleary Steers Angelo Gordon's $1.3B Asian Real Estate Fund

Law360 (September 11, 2019, 1:07 PM EDT) -- Alternative asset firm Angelo Gordon said Wednesday it has raised $1.3 billion for its latest Cleary Gottlieb-led real estate fund that will be used to target development opportunities in Japan, China, South Korea and Hong Kong.

New York-based Angelo Gordon & Co. LP, which focuses on credit and real estate opportunities, said that the fund, AG Asia Realty Fund IV, exceeded its $1 billion target through equity commitments from existing investors and a crop of new global institutional investors, none of which were disclosed.

The firm said it will seek out underperforming assets to renovate, reposition in order to lease or...

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