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Ropes & Gray advises on Angelo, Gordon Second Direct Lending Fund

Practices: Hedge Funds, Private Funds, Private Equity, Sponsor Representation, Credit Funds

Ropes & Gray advised Twin Brook Capital Partners (“Twin Brook”), the middle-market direct lending subsidiary of Angelo, Gordon & Co., on the final close of AG Direct Lending Fund II (the “Fund”).  Total equity capital raised exceeds $2.3 billion, surpassing the Fund’s target by $600 million. AG Direct Lending Fund II will seek to capitalize on the long-term investment opportunities in middle-market direct lending. The final close of the Fund was announced on July 19.

Twin Brook Capital Partners is a finance company focused on providing cash-flow based financing solutions for the middle-market private equity community. Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies.

The New York-based Ropes & Gray team advising on the Fund was led by hedge funds partner Jessica O’Mary and tax partner Adam Greenwood, and included hedge funds counsel Lacy Villanueva, hedge funds associate Michael Gynn.

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