Private equity, real estate and credit investment firm Angelo Gordon has hired a four-strong team to target deals in the energy sector.
The Texas-based group will look to make loans of between $20m and $60m under the leadership of Todd Dittmann, who has more than 20 years of energy investment and finance experience.
Dittmann put together the team in the spring to focus on credit opportunities in the energy sector.
The remaining members are managing directors Damon Putman and David Taylor and associate Paul Gottheim.
Angelo Gordon COO David Roberts said, “We made a strategic decision to enter the energy space based on the substantial size of the industry and the unprecedented need for the industry to raise capital.
“Given our firm’s deep background in credit, we decided to address energy through a credit-oriented approach that will allow us to efficiently lend to the industry.
“We have found a stellar team with deep energy lending experience and substantial deal sourcing capabilities.
“Importantly, the team is also a great cultural fit, sharing our emphasis on collaboration among our investment teams, our focus on absolute returns, and our research-intensive approach.
“We believe the Houston location will be an important ingredient to the team’s success in sourcing financings to the energy industry.”
Earlier this month New York City Retirement Systems CIO Lawrence Schloss revealed he is leaving the LP to become president of Angelo Gordon.
Schloss will switch out of the $145bn-managing pension manager after four years as CIO to take up the new role on November 11.
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