NOVEMBER 7, 2013

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Lone Star surpasses fundraising goal, raises $6.6b

by Andrea Waitrovich

Lone Star Funds has held a final close for its Lone Star Real Estate Fund III, raising $6.6 billion. The firm launched the opportunistic fund in June with a $6 billion fundraising goal.

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.

Since the establishment of its first fund in 1995, Lone Star has organized 12private equity funds with aggregate capital commitments totaling more than $45 billion.

In May the firm finished raising a residential-focused fund, Lone Star Fund VIII, with $5.1 billion. The majority of its capital will be used to buy soured residential loans from Europe’s banking crisis.

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