Lone Star holds $5.6b final close for 10th fund in series
Lone Star Funds has held a $5.6 billion final closing for Lone Star Fund X, exceeding its $5 billion equity fundraising target.
The fund is one of several global mega-funds (defined as a fund targeting equity commitments of more than $1 billion) in the market, according to IREI’s FundTracker database. The opportunistic fund will invest in distressed debt secured by properties in the United States, Europe and Japan.
In October, Lone Star had raised $4.4 billion for the fund. Commitments to the fund include a $300 million allocation from the $132.7 billion Teacher Retirement System of Texas and a