Lone Star Funds Raised $1.2 Billion for Real Estate Deals

(Reuters) – Private equity real estate group Lone Star Funds [LS.UL] has raised more than $1.2 billion for two funds that will invest in commercial real estate and securities, Bloomberg said, citing a person familiar with the matter.

The firm, led by John Grayken, has secured pledges for more than $500 million for Lone Star Fund VII and about $725 million for Lone Star Real Estate Fund II, the news agency cited the person as saying.

Lone Star was not immediately available for comment by Reuters outside regular U.S. business hours. (Reporting by Santosh Nadgir in Bangalore; Editing by David Holmes) ((santosh.nadgir@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 80 4135 5800; Reuters messaging: santosh.nadgir.reuters.com@reuters.net))