Perritt Capital Management, a Chicago-based boutique fund shop, announced Monday the launch of its second mutual fund, the Perritt Emerging Opportunities Fund.

The firm also currently manages the Perritt MicroCap Opportunities Fund.

The new fund will be co-managed by Michael Corbett and Dr. Gerald Perritt and will invest in the smallest micro-cap companies. Perritt is aiming to select stocks with a median market capitalization of between $50 million and $100 million. The firm also anticipated close the fund at $100 million in total assets.

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