Nasdaq-listed private equity firm TPG has completed the acquisition of Angelo Gordon in a transaction that was valued at $2.8 billion, according to recent filings. 

Going forward, Angelo Gordon will operate as TPG Angelo Gordon, a $74-billion credit and real estate investing platform under the leadership of co-managing partners Josh Baumgarten and Adam Schwartz.

The integrated platform will include Angelo Gordon’s real estate business with $18 billion in assets under management across the US, Europe, and Asia and credit business with $57 billion assets under management in North America and Europe, per earlier filings. 

Besides expanding its footprint in credit investing and real estate capabilities, TPG is adding 350 more limited partners to its client base.

“As we continue to operate and invest in dynamic markets, the addition of Angelo Gordon expands our capabilities and creates highly compelling investment opportunities,” said Jon Winkelried, Chief Executive Officer of TPG. 

The deal was first announced in May this year.

TPG, in recent years, has been expanding its product offerings and capabilities through acquisitions. In 2021, it acquired a majority stake in Hong Kong-based secondaries investor NewQuest, which was subsequently renamed TPG NewQuest.

TPG currently manages $213 billion in global assets.