Angelo Gordon gets into the energy business
New York City–based Angelo, Gordon & Co. has launched a new energy investment business and has hired four executives to lead the effort. Todd Dittman will head the Houston-based Angelo Gordon Energy Team.
In spring 2013, Dittman established an energy credit investment business supported by three other members — Damon Putman, David Taylor and Paul Gottheim. Putman and Taylor are now managing directors with Angelo Gordon, and Gottheim is an associate.
Putman was previously CFO of a private energy company; Taylor is a registered professional engineer and was recently a partner in an energy investment banking boutique and its associated investment practice.
"We made a strategic decision to enter the energy space based on the substantial size of the industry and the unprecedented need for the industry to raise capital,” says David Roberts, Angelo Gordon's COO. “Given our firm's deep background in credit, we decided to address energy through a credit-oriented approach that will allow us to efficiently lend to the industry."
According to Dittman, the team will focus on senior and junior-secured debt investments. "Although we will consider larger transactions, our focus will be on making loans in a size range of $20 million to $60 million.”