New York-based private equity firm Angelo, Gordon & Company, has hired four professionals, establishing an energy team that will be based in Houston, the firm’s newest office.
The team, to be led by Todd Dittmann, includes Damon Putman, David Taylor, and Paul Gottheim.
“We are delighted to welcome Todd and his team to the Firm,” Angelo Gordon’s chief operating officer David Roberts said in a statement.
Dittmann assembled the team in the spring of 2013 to focus on credit opportunities in the energy sector.
“We made a strategic decision to enter the energy space based on the substantial size of the industry and unprecedented need for the industry to raise capital,” Roberts said.
Dittmann’s experience, which spans more than 20 years, includes the closing of about 85 senior-secured, mezzanine, equity and other investments completed as a principal investor or lender. As an investment and finance professional he has focused on the energy sector.
The three other members of the team also have extensive experience in the energy sector. Putman, who will serve as managing director, was recently chief financial officer of a private energy company. Taylor, also named managing director, is a registered engineer and was recently a partner in an energy investment banking boutique and its associated investment practice. Gottheim, who will be serving as an associate, joins the firm from SunTrust Robinson Humphrey, the corporate and investment banking arm of SunTrust Banks, where he was a member of Energy Client Coverage.
“We recognise the opportunity to invest in capital-intensive energy companies that are consistently underserved by more traditional capital markets, with a particular focus on senior- and junior-secured debt investments,” Dittmann said.
“Although we will consider larger transactions, our focus will be on making loans in a size range of $20 million to $60 million,” he added.
Energy infrastructure deals, particularly those of a senior debt nature, may also be considered given the group’s broad mandate, a company spokesperson said.
The addition of the energy team comes on the heels of another hiring announced earlier this month. On October 18th, Larry Schloss, left the New York City Retirement System, where he served as deputy comptroller for pensions and chief investment officer, to join Angelo Gordon as president of the firm.
Founded in 1988, Angelo Gordon currently manages approximately $24 billion. Its investment activities focus on credit, real estate, and private equity. In addition to its New York headquarters and new Houston office, Angelo Gordon also has associated offices elsewhere in the US, Europe and Asia.
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