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Report: Angelo Gordon real estate fund holds $1.9B first close

Privately held alternative investment firm Angelo Gordon & Co. LP collected $1.9 billion for its 10th fund at first closing, PERE News reported.

AG Realty Fund X is said to have a $2.7 billion target. The fund will focus primarily on U.S. value-add investments and will co-invest as much as 20% of its capital alongside the New York-based firm's Europe and Asia funds, the news outlet wrote, citing meeting materials from the Pennsylvania Public School Employees' Retirement System, which is among the investors. Other investors in the fund include Texas Permanent School Fund and the Employees' Retirement System of the State of Hawaii.

Angelo Gordon did not comment on the matter, according to PERE.