Angelo Gordon raises $52m for value-add fund

Angelo, Gordon & Co. has raised $51.8 million for its AG Europe Realty Fund, a value-added fund that will invest in Europe, according to a filing with the SEC.

AG Europe Realty Fund launched in August 2013 aiming to raise between $300 million and $500 million. No target final close date was disclosed. The value-added fund will invest across property types in Western Europe, particularly in Belgium, France, Germany, Luxembourg, the Netherlands and the United Kingdom. It is targeting net returns of 14 to 15 percent.

Launched in 1993, Angelo Gordon focuses on a value-added approach across property types and geographic markets. To date, the firm has acquired more than $13 billion in properties.