Renovo Capital, a Dallas-based special situations private equity firm, said Wednesday it closed its second fund at $132 million.
Investors for Renovo Capital Fund II LP include foundations, corporate pensions, family offices.
In addition to the fundraising, the firm said it named Michael Manos as a managing partner.
The firm’s previous fund, Renwood Opportunities Fund I, in partnership with The Rosewood Corp., collected $50 million in 2010.
Launched in 2009, Renovo focuses on lower middle market firms experiencing financial distress and underperformance. Renovo said it typically invests between $5 million to $25 million equity per deal.
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