Versa Seeking $600 Million

Versa Capital Management, a mid-market turnaround firm formerly known as Chrysalis Capital, seeks to raise at least $600 million for its second fund. Also according to LBO Wire, the target is roughly double the size of Versa's debut effort. The Philadelphia-based turnaround manager's $300 million debut fund invested $15 million in Chrysler LLC and another $25 million in GMAC Financial, according to a person familiar with the offering memorandum for the second effort.