AG closes energy credit fund on $650m – exclusive

The firm’s Houston-based energy team has so far invested about 15-20% of the fund’s capital and is seeing more attractive energy opportunities start to materialise.  

Angelo, Gordon & Co. (AG) has finished fundraising for its AG Energy Credit Opportunities Fund closing on $650 million on Thursday, according to sources familiar with the firm.

The fund’s target was in the $600 million to $700 million range. Many energy investors in the past year or two have been raising energy credit funds and betting on a recovery in oil prices.