Mergers & Acquisitions

Angelo, Gordon & Co.

$2.7 Billion
Piper Sandler served as financial advisor for Angelo, Gordon & Co., L.P. on sale to TPG Inc.

Transaction Summary
On May 15th, 2023, TPG announced it has entered into a definitive agreement to acquire Angelo Gordon for $3.1B (based on TPG’s share price as of May 12, 2023), inclusive of a $400M earnout.  TPG is acquiring Angelo Gordon in a stock and cash transaction including upfront consideration of approximately $970M of cash and 62.5M common units of TPG Operating Group and restricted stock.

Press Release Link

Angelo Gordon & Co., L.P.
Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is an alternative investment firm founded in November 1988. The firm manages approximately $73B as of December 31, 2022, with a primary focus on credit and real estate strategies. Angelo Gordon has over 650 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia.

TPG Inc.
TPG is a leading global alternative asset management firm, founded in San Francisco, California in 1992, with $137B of assets under management as of December 31, 2022 and investment and operational teams around the world. TPG invests across five multi-strategy platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and their unique strategy is driven by collaboration, innovation, and inclusion. Their teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for their fund investors, portfolio companies, management teams, and communities.

Asset & Wealth Management