On May 15, 2023, it was announced that TPG, Inc. entered into an agreement to acquire Angelo, Gordon & Co., L.P.
Under the terms of the transaction, TPG, Inc. (“TPG”) will acquire Angelo, Gordon & Co., L.P. (“Angelo Gordon”) for an initial purchase price of $2.7 billion and an earnout of up to $400 million based on Angelo Gordon’s future financial performance. The transaction, subject to customary regulatory and closing conditions, is expected to close in the fourth quarter of 2023.
TPG, based in San Francisco, is a global alternative asset management firm. As of June 2022, TPG had approximately $137 billion in assets under management.
Angelo Gordon, based in New York, is an alternative investment firm. The firm primarily focuses on credit and real estate strategies. As of December 2022, Angelo Gordon had approximately $73 billion in assets under management. Piper Sandler acted as financial advisor to Angelo Gordon for the transaction.
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