Lone Star wraps up 10th PE fund at $5.6 bln

Lone Star Funds, a Dallas-based private equity firm that invests in distressed assets, has closed its 10th private equity fund at $5.6 billion, beating its $5 billion target.

The limited partners of LSF X include pension funds, sovereign wealth funds, foundations and endowments that support medical research, higher education and other philanthropic causes.

In 2014, Lone Star closed its previous private equity fund at $7.4 billion. No performance data was available about Fund IX.

Last April, Lone Star raised about $5.8 billion for its fifth commercial real estate fund. The target was $5 billion.

Since launching its first fund in 1995, Lone Star has racked up over $70 billion for 17 private equity funds.


Photo: 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. Reuters/Mike Stone