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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 associate Michael Gynn.

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