Stellex Capital Management Raises $870M For Inaugural PE Fund

Jul 7 2017 | 6:34pm ET

Stellex Capital Management has raised $870 million in capital commitments for its debut middle-market private equity fund, comfortably beating its $750 million target. 

The new fund, named Stellex Capital Partners LP, will primarily focus on control-oriented investments of $25-$100 million in manufacturing and service businesses, according to a statement, through structured private equity buyouts or purchases of secondary market debt. Sectors of interest include automotive, aerospace, building products, defense, industrial equipment, metal fabrication and transportation. 

Headquartered in New York, Stellex was founded in 2014 by former Carlyle partners Ray Whiteman and Michael Stewart, who also worked together as co-heads of Carlyle Strategic Partners. The firm concentrates on middle market investments in companies going through business or industry transitions, as well as special situation opportunities. 

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