Lone Star Funds raised $5.3 billion for the 12th vintage of its Opportunity Fund Series that has been ongoing since 1997.
The Dallas-based private equity firm’s opportunistic investment strategy leverages market disruptions, targeting businesses and assets needing capital support and management direction.
Lone Star Fund XII (LSF XII) will seek value in companies affected by economic uncertainty and distressed corporate credits, according to Donald Quintin, CEO and global president of Lone Star. “We will continue to seek value primarily in companies that are affected by ongoing macroeconomic uncertainty and distressed corporate credits, using LSF XII’s flexible mandate to pivot across different markets and asset classes,” he added.
Quintin, who joined Lone Star in 2010, was appointed CEO in April.
Since 1995, Lone Star has organized 24 private equity funds with total capital commitments of about $92 billion. With 11 offices in North America, Europe, and Asia Pacific, the firm invests globally in real estate, corporate equity and credit under advisement of Lone Star Global Acquisitions and its global subsidiaries.
The previous vintage of the firm’s Opportunity Fund series, Lone Star Fund XI, closed in February 2019 with commitments of about $8.1 billion. The fund completed 15 investments over a 53-month investment period with a $20.4 billion aggregate purchase price.
The firm’s Lone Star Value-Add Fund II, which closed in September 2022 with about $619 million in capital commitments to target investments in value-add commercial real estate, is still in its investment period, as is the Lone Star Residential Mortgage Fund III, which held its final closing in September 2023 with about $657 million for investments including newly originated performing U.S. single-family residential mortgage loans.