Stellex Capital Management raises $870m

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Stellex Capital Management has raised $870 million to date for its Stelllex Capital Partners.

The New York-headquartered firm had set a $750 million target and held a first close on $586 million last August. One of its investors, Teacher's Retirement System of Texas has committed $50 million.

The fund will target secondary market debt in a diverse number of sectors in North America and Western Europe.