American Securities within reach of $750m target

The firm has a $1bn hard-cap for the distressed debt fund, according to LACERS documents.  

American Securities is within reach of its $750 million target for its third opportunities fund, according to documents filed with the US Securities and Exchange Commission Wednesday.

The firm raised at least $725.1 million for the vehicle as of Wednesday, according to the filing. The fund will invest between $20 million and $100 million per deal in companies with revenues in the $100 million and $1.5 billion range.

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