Illinois Teachers approves $300m commitment to sixth Lone Star fund

The $51.1 billion Teachers’ Retirement System of the State of Illinois has approved a $300 million commitment to the Lone Star Real Estate Fund VI, managed by Lone Star Funds.

The limited partnership vehicle makes debt and equity investments in Asia, Western Europe and North America. It launched in December 2018 with an equity fundraising target of $4.5 billion.

Other recent investors in the fund include the Maryland State Retirement and Pension System, the New Mexico Educational Retirement Board and the Teacher Retirement System of Texas.

Lone Star Real Estate Fund V, the previous fund in the series, comprised Lone Star Real Estate Fund V (U.S.) and Lone Star Real Estate Fund V (Bermuda). It closed in April 2016 with $5.8 billion in combined capital commitments.