TPG Angelo Gordon’s CLO team invests in predominantly non-investment grade credit instruments.
The team aims to execute an absolute, total return investment strategy that seeks to generate returns from both current income and capital appreciation. With a primary focus on senior secured floating rate loans, the strategy may also opportunistically invest in mezzanine debt, high yield bonds, distressed securities, and other credit related instruments including indexes and/or derivatives. The team actively monitors and trades the portfolio with the goal of improving credit quality and generating incremental return.
The team has a twenty-year history of managing CLOs via its Northwoods Capital platform and invests through these structured vehicles, co-mingled funds and managed accounts. The strategy has a long bias and utilizes fundamental credit analysis to identify attractive investment opportunities, often finding value in overlooked or misunderstood securities. The team is currently focused on the North American market but also invests outside of North America.