Angelo Gordon Direct Lending Fund’s $2.75+ Billion Fundraising

Ropes & Gray advised Angelo, Gordon’s Twin Brook Capital Partners on the formation and raise of its third direct lending fund, AG Direct Lending Fund III.

Angelo, Gordon & Co., L.P., a $33 billion alternative investment firm focused on credit and real estate investing, raised over $2.75 billion in equity commitments for AG Direct Lending Fund III (the “Fund”), exceeding the Fund’s $2 billion target and making this the Firm’s largest direct lending fund to date.

The Fund is managed by Twin Brook Capital Partners, Angelo Gordon’s middle market direct lending subsidiary.

The Fund received strong backing from existing Angelo Gordon investors and welcomed a number of new global institutional investors.

Twin Brook Capital Partners is a finance company focused on providing cash-flow based financing solutions for the middle market private equity community.

The Ropes & Gray team was led by asset management partner and credit funds initiative leader Jessica O’Mary (Picture), and included tax partner Adam Greenwood, asset management counsel Lacy Villanueva, asset management associates Mike Gynn, Ryan Marcus, Shudan Shen and Casey Prusher, tax associates Denise Sohn and Chris Shim, and corporate associates Kyung Paik, Lisa Goodman, and Marilyn Li.

Involved fees earner: Lisa Goodman – Ropes & Gray; Adam Greenwood – Ropes & Gray; Michael Gynn – Ropes & Gray; Marilyn Li – Ropes & Gray; Ryan Marcus – Ropes & Gray; Kyung Paik – Ropes & Gray; Casey Prusher – Ropes & Gray; Shudan Shen – Ropes & Gray; Chris Shim – Ropes & Gray; Denise Sohn – Ropes & Gray; Jessica Taylor O’Mary – Ropes & Gray; Lacy Villanueva – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Angelo, Gordon & Co., L.P.;