TPG Angelo Gordon Among New Bidders in Auction for Citgo Assets

Investment fund TPG Angelo Gordon is among the new bidders for Citgo Petroleum Corp.’s parent company as part of a court-supervised auction designed to compensate creditors of Venezuela whose assets were seized, according to people familiar with the matter.

New York-based TPG Angelo Gordon has launched a so-called “topping bid” for the shares of Citgo’s US-based parent PVD Holding, according to the people, who asked not to be identified because they weren’t authorized to speak publicly about the bid.