TPG in talks to acquire Angelo Gordon for $2b

TPG is in talks with Angelo Gordon regarding an acquisition deal that would value the investment firm at more than $2 billion.

Angelo Gordon is a privately held alternative investment firm, managing approximately $53 billion across a broad range of credit and real estate strategies. The firm invests on behalf of pension funds, corporations, endowments, foundations, sovereign wealth funds and individuals.

According to its website, Angelo Gordon has more than 650 employees in offices across the United States, Europe and Asia.

Sources with knowledge of the matter told Bloomberg this deal would mark TPG’s first major foray into credit investing since separating from Sixth Street three years ago.

The transaction has not been finalized, and there is a chance discussions may not lead to a deal.