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Stabilis reaches more than halfway to $600 mln Fund IV target

Firm: Stabilis Capital Management

Fund: Stabilis Fund IV LP

Target: $600 mln

Amount raised: $351 mln

Stabilis Fund IV has received commitments from 36 investors, according to a Form D filing. Among LPs in the fund, University of Michigan Board of Regents committed $50 million to Stabilis Fund IV in December.

Stabilis Capital, founded by Goldman Sachs and Silver Point Capital veteran Salman Khan, has raised more than $650 million since inception through four investment pools, according to its website. The firm launched with $150 million in seed money, including a commitment from TRB Advisors, a family office established by Tim Barakett, known for launching Atticus Capital, a large hedge fund that began winding down in 2009.

Stabilis invests in asset-oriented loans, securites and ventures where it deploys its experience with “complex” special situations, according to its website. The firm often works on borrower refinancing through capital market lenders seeking investment opportunities, with an emphasis on senior loans.

Stabilis Fund I and II are currently harvesting, according to the firm’s website. Fund III is still being invested.

Khan worked as head of the commercial and industrial loans group during his six years at Silver Point Capital LP. He was at Goldman Sachs for 12 years.