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Laxman Pai, Opalesque Asia: Stellex Capital Management has soared to an impressive final close for its sophomore fundraise, beating its initial $1.25bn target to reach $1.775bn final close.
Stellex Capital Partners II, the middle-market distressed and special opportunities fund focuses on investments between $50 million to $150 million within the automotive, aerospace, building products, consumer, defense, food, general industrial, and transportation sectors.
The previous fund of the private equity firm with over $2.6 billion in AUM, closed on $870 million in July 2017.
Investors in the fund include the New York State Common Retirement Fund, Albany; the New Jersey Pension Fund, Trenton; Illinois Teachers' Retirement System, Springfield; Connecticut Retirement Plans & Trust Funds, Hartford; Orange County Employees Retirement System, Santa Ana, Calif.; Houston Firefighters' Relief and Retirement Fund; and Baltimore City Employees' Retirement System.
Stellex's Managing Partner Michael Stewart said: "We are very appreciative of the continued support from our existing LP's as well as our new investors. 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."
Stellex's core competency is investing in businesses that would benefit from Stellex's operational expertise and resources, as we...................... To view our full article Click here
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