American Securities Gearing up for Third Distressed Debt Fund
February 26, 2013
Middle-market PE investor American Securities is looking to raise upwards of $750 million for a third distressed debt fund—American Securities Opportunities Fund III—according to an SEC filing. The fund's predecessor closed in July 2011 with commitments of more than $753 million. American Securities' debt funds focus on investing in public and private companies in distress or trading at distressed levels due to operating or liquidity issues. The firm invests in securities throughout a company's capital structure, including bank debt, high-yield bonds, trade claims and equity securities.