Monomoy Capital Partners has collected $320 million for its second fund targeting $350 million, according to a source with knowledge of the situation.
The New York-based firm’s Fund II is focused on distressed and turnaround investments. Monomoy Capital Partners declined to comment. The firm is using MVision Private Equity Advisors as a placement agent.
The firm has continued to make investments through the downturn, mostly in add-on acquisitions to platform companies. In 2009, Monomoy built up its plastic molder platform, paying an undisclosed amount for Moll Ramos, a plastic molder with facilities in Mexico.
Monomoy was founded by Stephen Presser, Daniel Collin, Justin Hillenbrand and Philip Von Burg, all of whom left KPS.