Angelo Gordon, a $53 billion New York-based alternative investment firm focused on credit and real estate investing, has closed its second fund focused on swings in the public debt markets – Annex Dislocation Fund 2 – with $1.3 billion in commitments. The fund is an extension of the AG Credit Solutions Fund II, which held a final close of $3.1 billion in April 2022.

Raised in less than seven months, the Annex Dislocation Fund 2 aims to capitalize on stressed or distressed companies by investing primarily in public debt securities whose prices have dislocated from long-term fundamentals, according to the firm.

“The dramatic price moves over the past twelve months have led to significant dispersion in individual names and created a credit-picker’s market. This dynamic, combined with our credit solutions capabilities, makes us very excited to tactically take advantage of opportunities in the public market,” said Ryan Mollett, Angelo Gordon’s Global Head of Distressed & Corporate Special Situations and portfolio manager of the Fund.

Founded in 1988, Angelo Gordon manages more than $37 billion in credit assets and invests across corporate credit, lending and structured credit strategies.