July 13, 2011
American Securities Opportunities Fund Closes Second Fund with $753 Million of Committed Capital
American Securities Opportunities Fund, an affiliate of American Securities LLC, today announced the closing of its second fund with more than $753 million of committed capital. American Securities Opportunities Fund’s first fund was formed in 2006 with more than $300 million in commitments. The funds focus on making investments in public or private companies in distress or trading at distressed levels due to deterioration in operating performance or anticipated liquidity problems.
The American Securities Opportunities Fund team includes ten professionals based in New York and is led by Anthony Grillo, Lawrence A. First, and Daniel H. Clare. Tony Grillo, who rejoined American Securities in 2005 to establish American Securities Opportunities Fund, previously served as senior managing director and partner of Joseph Littlejohn & Levy, and senior managing director and partner of The Blackstone Group where he co-founded its Restructuring Advisory Group. Larry First was formerly a managing director and co-portfolio manager in Merrill Lynch’s Principal Credit Group and a corporate and bankruptcy partner at Fried, Frank, Harris, Shriver & Jacobson LLP. Dan Clare was previously a senior managing director at Diamond Castle Holdings and an investment professional at DLJ Merchant Banking Partners.
In commenting on the closing of this second fund, Tony Grillo said, “We are pleased that our track record in making investments with prudent risk profiles has resulted in new commitments from investors for Fund II of more than double those in Fund I. We have already deployed over $150 million of Fund II capital and are confident that there will be a significant number of investment opportunities over its remaining four year investment period.”