Angelo, Gordon Closes $850M Asia Realty Fund III

Angelo, Gordon & Co. has invested around $1.9 billion of equity in 58 real estate deals in Asia since 2005.
Wilson Leung, managing director & head of Angelo, Gordon’s Asian real estate

Wilson Leung, managing director & head of Angelo, Gordon’s Asian real estate

New York—Angelo, Gordon & Co. has announced the closing of its AG Asia Realty Fund III, with total capital commitments of $850 million, exceeding the original target amount of $750 million.

“We are grateful for the strong support we received from new and existing limited partners to close our third fund,” said Wilson Leung, managing director & head of Asian real estate at Angelo, Gordon, in prepared remarks. “We continue to see highly compelling real estate investment opportunities in Japan, Korea and Greater China and believe our deep, longstanding relationships with our local operating partners positions us well to generate attractive returns.”

The fund will seek to capitalize on value-add turnaround and development with an emphasis on China, Hong Kong, South Korea and Japan, by purchasing sub-performing assets which often require significant repositioning, lease-up or development to stabilize.

AG Asia Realty Fund III comes after successful closings for Angelo, Gordon’s US-focused opportunistic and core plus funds, bringing nearly $3.5 billion of new capital to the company’s global real estate platform. Angelo, Gordon has invested around $1.9 billion of equity in 58 real estate deals in Asia since 2005. AG Asia Realty Fund III’s predecessor funds, AG Asia Realty Fund II and AG Asia Realty Fund I, were $616 million and $526 million, respectively.

Image courtesy of Angelo, Gordon & Co.