Equus II, Inc. is a business development company that trades as a closed-end fund on the New York Stock Exchange. The fund seeks to achieve capital appreciation principally by making investments in equity and equity-oriented securities issued by privately owned companies in transactions negotiated directly with such companies. Equus II seeks to invest primarily in companies that intend to acquire other businesses, including through leveraged buyouts. From time to time, Equus II may also invest in recapitalizations of existing businesses or special situations. Equus II focuses on investments in privately owned manufacturing, distribution or service companies with annual revenues between $15 and $150 million.