How two ex-Carlyle partners beat target on their debut fund

Carlyle Group, Stellex Capital Management, Michael Stewart, Ray Whiteman, private equity
Photo of Michael Stewart courtesy of Stellex
  • Stewart and Whiteman formerly ran Carlyle Strategic Partners
  • $870 mln fundraise exceeded $750 mln target
  • four deals done; investments to be reactive/situational
Michael Stewart and Ray Whiteman, former Carlyle Group partners, raised a debut fund of $870 million for Stellex Capital Management. According to Stewart, they did it with the mindset of experienced industry operators. “We did not think of ourselves as ...

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