Stellex raises nearly $1.8bn for second flagship fund

Stellex Capital Management announced the closing of Stellex Capital Partners II with aggregate commitments of $1.775 billion, which exceeds the firm’s original target $1.25 billion target. The new fund’s emphasis is on manufacturing and service businesses within sectors such as automotive, aerospace, building products, consumer, defense, food, general industrial and transportation. These middle-market opportunities and special situation investments are the main focus with the capability of the $2.6 billion creating investments in a private equity format or by acquiring secondary debt to facilitate a control or significant influence opportunity. The target investment size is $50 million to $150 million with Stellex sourcing opportunities via its deep relationships within various industry sectors. Stellex’s Managing Partners, Ray Whiteman and Michael Stewart, have been investing together for over 17 years in middle market businesses at different points in the economic cycle. The firm’s core competency is investing in businesses that would benefit from Stellex’s operational expertise and resources, as well complex situations that require creative solutions. Stellex believes these opportunities are available for investment irrespective of the vintage and allow for consistent capital deployment. “While timing is very important when we look at investment opportunities, the alpha of our strategy has always been to add value to companies by helping them be better businesses,” said Stewart. “We are humbled by the trust our partners have in us which manifested itself in investor interest beyond the hard cap established for the Fund, particularly given the current market uncertainty we are all living through,” added Whiteman. “We continue to build out our team of experienced investment and operating professionals and we are focused on sourcing compelling opportunities that drive value for our partners and their underlying constituents.”

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