Mill Road Capital has closed its Fund II on $420 million, according to a statement from the firm.
Fund II had a target of $525 million, according to documents filed with the US Securities and Exchange Commission. It is unclear whether the firm revised the target of the fund or missed its target. Mill Road declined to comment.
Fund II launched earlier this year and had collected about $362 million as of September and $272 million as of August, according to SEC documents.
Firms listed in the documents that will receive compensation in connection with the fund include Triago and XT Capital Partners.
Fund II is about 70 percent larger than Mill Road’s debut fund, the firm said in the statement.
Mill Road invests in North American publicly traded micro-cap companies in the retail, manufacturing, business services and consumer products sectors. Mill Road’s portfolio includes branded cheese alternative company Galaxy Nutritional Foods and engineering services and consulting company National Technical Systems, according to its website.
The Greenwich, Connecticut-based firm is led by former Lazard Capital Partners founder Thomas Lynch and a select group of former Blackstone executives. All of Mill Road’s senior investment professionals previously held management leadership positions or consulting roles in operating companies, according to the firm’s website.