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Lone Star closes fund with $5.9b

by Andrea Waitrovich

Lone Star Funds has announced the first and final closing of Lone Star Real Estate Fund V. The firm’s U.S.- and Bermuda-based vehicles raised $5.9 billion in combined capital commitments, surpassing the $5 billion fundraising target and $5.5 billion maximum.

IREN announced the fund was in the market in January. The LSREF V investor base includes corporate and public pension funds, sovereign wealth funds, university endowments, foundations and high-net-worth individuals.

The investment strategy will be consistent with previous Lone Star real estate funds, focusing on a broad range of financial and other opportunistic investment assets in commercial real estate debt and equity products in the Americas, Europe and Asia Pacific.

Thus far this year, six global mega-funds

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