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Alternative Market Briefing

Lone Star Funds closes Fund X on $5.6 billion
Wednesday, November 16, 2016

Bailey McCann, Opalesque New York:

Texas-based Lone Star Funds has closed its tenth fund on $5.6 billion. The fund was oversubscribed and beat its original target of $5 billion.

The news comes on the heels of another successful fundraising round earlier this year. The firm closed Lone Star Real Estate Fund V, its fifth dedicated commercial real estate fund on approximately $5.8 billion, exceeding the $5 billion target and hitting the hard cap.

Lone Star, a global private equity firm, runs a strategy of providing liquidity to markets after a crisis. The firm maintains a generalist focus, investing in value-oriented assets, real estate and real estate-related assets, as well as making control investments in operating companies, and securitized products.

Known investors in the fund include the Chicago Policemen's Annuity & Benefit Fund, which committed $15 million. The Oregon Public Employees' Retirement Fund and the New Mexico Educational Retirement Board (NMERB) are also investors. NMERB committed $150 million.

On Monday, it was reported that Lone Star Funds had applied to the Reserve Bank of India (RBI) to set up an asset reconstruction company focused on the significant underperforming loans market there. An item in Indian newspaper Mint suggested that the firm was looking for value opportunities in the power and infra......................

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