Roughly 18 months after holding a close on its second distressed-debt fund, American Securities is back marketing a follow-up vehicle, according to a filing with the Securities and Exchange Commission, Dow Jones DBR Small Cap reported today. American Securities Opportunities Fund III LP is targeting $750 million, according to the SEC filing, which did not include how much, if any, capital has been raised. American Securities closed on $753 million for American Securities Opportunities Fund II LP in July 2011, handily passing the fund's initial target of $500 million. The New York firm raised $300 million for a debut fund in 2008.
