Angelo, Gordon raises $252m for second Europe fund

Angelo, Gordon & Co. has raised $252.2 million for AG Europe Realty Fund II, according to a filing with the SEC.

AG Europe Realty Fund II is a value-added real estate fund managed by Angelo, Gordon & Co. The fund invests in office, hotel, industrial, multifamily and retail properties across western Europe and the United Kingdom. It launched in first quarter 2017 with a $750 million maximum fundraising target.

The fund recently received a $100 million commitment from the $52.7 billion Pennsylvania Public School Employees’ Retirement System. It also received a $50 million commitment from the $15.1 billion Hawaii Employees’ Retirement System.

The fund’s predecessor, AG Europe Realty Fund, had an assumed final close in 2014, raising $268.7 million for the value-add