 Net Lease real estate strategy was established in 2005 to focus on below investment grade tenants.Angelo Gordon further expanded into the intersections of real estate and credit with the addition of real estate debt in 2006 and residential and consumer debt in 2008.In 2009, Angelo Gordon was one of only nine private investment firms to partner with the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation in PPIP—the Private-Public Investment Partnership.