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Laxman Pai, Opalesque Asia:

Lone Star Funds raised about $5.3 billion with the final closing for its 12th opportunity fund, Lone Star Fund XII.

The Fund will continue its strategy of investing in distressed assets in real estate, corporate equity, credit, and other financial assets even as private equity fundraising overall has slowed in 2024.

"Lone Star's opportunity fund series focuses on opportunities that emerge during periods of market dislocation with an emphasis on businesses, sellers, and assets that require capital support and management direction to succeed in challenging economic and market conditions as well as NPL portfolios in a range of asset classes that arise from economic conditions and regulatory pressures," said a media release from the Dallas-based private equity firm.

Donald Quintin, Chief Executive Officer and Global President of Lone Star said: "Lone Star is a highly disciplined and value-driven investor with a proven track record of investing through multiple cycles over several decades. This experience has allowed us to build longstanding relationships with our investors, to whom we are grateful for their ongoing support."

"With the closing of our latest fund, we will continue to seek value primarily in companies affected by ongoing macroeconomic uncertainty and distressed corporate credits, using LSF XII's flexible mandate to pivot across different markets and asset classes."

Since establishing its first fund in 1995, Lone Sta......................

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