Private equity firm Angelo Gordon has launched a new energy fund a few months after hiring four investment professionals to target deals in the sector.
AG Energy Partners has raised $80.7m, according to a document filed with the US Securities and Exchange Commission. The fund, which has a $5m minimum commitment requirement for outside investors, has been backed by 34 LPs.
The New York-headquartered firm is raising the fund without a placement agent, the filing showed.
In October last year Angelo Gordon hired its new team to focus on the energy sector. The group will make loans of $20m and $60m under the leadership of Todd Dittmann.
The remaining members of Angelo’s energy team are managing directors Damon Putman and David Taylor and associate Paul Gottheim.
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