Angelo Gordon taps new real estate exec after $2.75B fund raise

Elbaum will be the company’s managing director of U.S. real estate for New York, New Jersey and Connecticut

TRD NEW YORK /
Oct.October 25, 2019 09:45 AM
Cory Elbaum

Cory Elbaum

On the heels of raising its largest fund to date, Angelo Gordon is bringing on a new real estate executive.

Cory Elbaum will start at the beginning of next year’s second quarter as the company’s managing director of U.S. real estate focusing on the New York, New Jersey and Connecticut markets, according to sources familiar with the move. Elbaum will report to Angelo Gordon’s co-chief investment officer Adam Schwartz and co-portfolio manager of U.S. real estate Reid Liffmann.

Elbaum previously worked as a managing director and co-chair of acquisitions at Thor Equities and as an acquisitions associate at Crescent Heights, a residential real estate company based in Miami. He comes to Angelo Gordon from Dune Real Estate Partners, where he has been a managing director since the beginning of 2018.

Angelo Gordon raised more than $2.75 billion this year for its latest recent real estate fund — its largest to date. The company is targeting off-market deals across all property types in the U.S. Angelo Gordon manages $33 billion in assets, and is a co-owner of Industry City, a mega redevelopment in Brooklyn that has been going through a thorny rezoning process with local City Council member Carlos Menchaca.

Elbaum and representatives for Angelo Gordon declined to comment on the move. Representatives for Dune did not respond to a request for comment.

Rich Bockmann contributed reporting.


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