Lone Star racks up about $8.2 bln for 11th fund


Employee Retirement System of Texas, benchmarks, Wilshire TUCS, MSCWI ACWI
A sign advertising Lone Star beer hangs on the wall next to a jackalope trophy at Perini Ranch Steakhouse in Buffalo Gap, Texas December 5, 2014. Photo courtesy Reuters/Mike Stone

Dallas-based Lone Star Funds, a private equity firm that invests in distressed assets, has closed its eleventh fund at about $8.2 billion.

Limited partners in Lone Star Fund XI include pension funds, sovereign wealth funds, as well as foundations and endowments that support medical research, higher education and other philanthropic causes.

In November 2016, Lone Star closed its previous fund at about $5.5 billion. No performance data on the fund was available.

Since forming in 1995, Lone Star has launched 18 private equity funds and raised about $80 billion in capital commitments, according to the firm.

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