Dominus Capital Fund II has reached its first close at $239 million with a target size of $350 million, according to the firm's filing with the US Securities & Exchange Commission.
The New York-based firm's second buyout fund has a diversified sector focus in North America, similar to its predecessor, which held a final close on $200 million, short of its $375 million target, according to PEI's Research & Analytics division.
Investors in Fund I include the UK's West Midlands Pension Fund, BAML Capital Access Funds Management in Chicago and New York State Common Retirement Fund. That fund is now fully invested.
Dominus has targeted companies in sectors such as building products, business services, consumer products, consumer services, distribution, food products and services, light manufacturing, restaurants, specialty chemicals and specialty retail. It invests in businesses with over $10 million in EBITDA, according to PEI's Research & Analytics.
Dominus manages $170 million in assets and has executed PE deals worth more than $2 billion in the past two decades.