It seems fundraising was a little easier for Endless the second time around. The U.K.-based private equity firm has held a first and final close on its new investment vehicle, Endless Fund II, with commitments totalling £164 million (US$$326 million).

Endless II is the first institutionally backed fund for the buyout and turnaround investor, which was established just over two years ago. The new fund will make debt and equity investments in turnaround situations.

“With the recent deterioration in both economic expectations and credit markets, the investment opportunities available to us are noticeably increasing and so the timing of closing this fund is ideal,” managing partner Garry Wilson said.

Endless last week announced the appointment of Del Huse as managing director of its new London office bringing it to a total of 24 people operating across the U.K.