6 November 2023
On November 2nd, 2023, TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, announced the successful completion of its previously announced acquisition of Angelo Gordon. The transaction follows the completion of customary closing conditions, including HSR, international regulatory approvals, and other client and third-party consents.
Company stated that with the completion of the transaction, TPG’s investing platforms span a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions. Moving forward, Angelo Gordon will operate as TPG Angelo Gordon, a $74 billion diversified credit and real estate investing platform within TPG. Across all platforms, TPG manages $213 billion of AUM.
Jon Winkelried, Chief Executive Officer of TPG, said: “This is a milestone transaction for TPG, representing an important step in our continued evolution as a diversified global alternative asset manager. As we continue to operate and invest in dynamic markets, the addition of Angelo Gordon expands our capabilities and creates highly compelling investment opportunities. We approach today’s market from a position of strength with best-in-class talent, deep, sector-driven expertise, and broad flexibility to provide solutions for portfolio companies, clients, and shareholders. Moving forward, TPG expects to continue to deliver excellent performance, build an inclusive and diverse culture, and accelerate growth through new and existing strategies.”
Josh Baumgarten and Adam Schwartz, Co-Managing Partners of TPG Angelo Gordon, said: “We have seen the power of our collective organizations – the capabilities of our people, and the depth of our relationships and knowledge – and are thrilled to be part of TPG. The teams across both firms have invested a tremendous amount of time getting to know one another and identifying the best ways to combine our respective skills and expertise. We have already started working together on opportunities resulting from our partnership and look forward to this next chapter.”
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