Stellex Capital Management closed its second fund on nearly $1.8 billion, beating its $1.25 billion target. Fund II’s target investment size is $50 million to $150 million. It focuses on investments in manufacturing and service businesses in sectors like automotive, aerospace, building products, consumer, defense, food, general industrial and transportation.
Stellex Capital Management (“Stellex”), a middle market private equity firm, today announced the successful closing of Stellex Capital Partners II LP (the “Fund”), with aggregate commitments of $1.775 billion, exceeding the Fund’s $1.25 billion target.
Stellex has a strategic focus on investments in middle-market, deep value opportunities and special situations, with the capability of creating investments in a private equity format or by acquiring secondary debt to facilitate a control or significant influence opportunity. The Fund’s target investment size is $50 million to $150 million, with an emphasis on manufacturing and service businesses within sectors such as automotive, aerospace, building products, consumer, defense, food, general industrial, and transportation.
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 Mr. Stewart. “Stellex has deep relationships within numerous industry sectors that can benefit both manufacturing and service businesses and we have been in daily dialogue with companies during this disruptive time in the markets regarding challenges and solutions.”
Mr. Whiteman added, “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. 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.”
About Stellex Capital Management LLC
With offices in New York, Detroit and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, and government services. Additional information may be found at www.stellexcapital.com.