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Lone Star launches $6 billion real estate fund
Lone Star Funds has launched a $6 billion fund, Lone Star Real Estate Fund III, according to a filing with the Securities and Exchange Commission. A final close date and strategy of the fund were not disclosed.
The vehicle is part of the firm’s Lone Star Real Estate Fund series, which invests in distressed commercial real estate debt and equity products.The global fund series primarily invests in the United States, Japan and Western Europe.
Lone Star Real Estate Fund II held a $5.5 billion final close in May 2011. Transactions consummated and targeted by Lone Star Real Estate Fund II have included investments in distressed commercial real estate debt and equity products in the United States, Western Europe and Japan. The series’ debut fund