American Securities Opportunities Fund, an affiliate of American Securities, has raised more than $753 million for its second fund, Private Equity Hub reports. The fund invests in public or private companies in distress or trading at distressed levels due to deterioration in operating performance or anticipated liquidity problems.

The firm has already deployed more than $150 million of the capital raised for the second fund. The firm’s first fund, set up in 2006, secured over $300 million in commitments.

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