Fundraising - MAY 19, 2014

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AG Co. holds $1b final close for third fund

by Andrea Waitrovich

Angelo, Gordon & Co. has held a $1.026 billion final close for AG Net Lease Realty Fund III on April 8. The firm declined to comment on its fundraising efforts.

The fund will invest in CBD office, industrial and triple-net-lease property opportunities in the United States.

The fund is part of the AG Net Lease Realty fund series managed by the Angelo Gordon net lease team. The debut fund, AG Net Lease Realty Fund, closed in 2007 with $160 million in capital. The fund targeted properties occupied by owners that did not have credit ratings, were under pressure to raise capital or had emerged from bankruptcy. In addition, the fund invested in junior tranches of mortgages on single-tenant properties.

AG Net Lease Realty Fund II, a value-added fund that targets single-tenant, net-leased real estate, closed in July 2010 with $560 million in equity commitments and more than $1 billion of purchasi

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