Paul, Weiss advised alternative investment firm Angelo Gordon in its sale to TPG in a deal valued at approximately $2.7 billion. The agreement included an estimated $900 million in cash and up to 70 million common units of the TPG Operating Group. The transaction also included an earnout based on Angelo Gordon’s future financial performance, valued at up to $400 million.

Angelo Gordon is an alternative investment management firm focused on credit and real estate investments with approximately $73 billion in assets under management. Moving forward, Angelo Gordon will operate as the credit platform of TPG.

The Paul, Weiss team was led by corporate partners Steven Williams, Samuel Welt, Maury Slevin and Marco Masotti, executive compensation partner Lawrence Witdorchic and tax partner David Mayo, and included, among others, corporate partners Aaron Schlaphoff, Raphael Russo and Thomas de la Bastide and counsel Jyoti Sharma, Stephen Koo, Michael Spirtos, Bruce Gruder, Jennifer Songer, Jason Tyler and Hilary Christian; executive compensation partner Jarrett Hoffman and counsel Bruce Goldberger, Jake Glazeski and Sasha Belinkie; litigation partners Andre Bouchard, Andrew Ehrlich and Gregory Laufer and counsel Steven Herzog; intellectual property partner Claudine Meredith-Goujon; real estate partner Harris Freidus; tax counsel Sarah Katz; antitrust counsel Yuni Sobel; and environmental counsel William O’Brien.