Lone Star seeks €5.6b for new real estate fund

Dallas-based Lone Star Funds has set a $6 bn (€5.6 bn) capital-raising target for its latest global real estate fund, reports IPE Real Assets.

The Teachers’ Retirement System of Louisiana (TRSL) disclosed in a meeting document that it has approved a $75 mln commitment to the Lone Star Real Estate Fund VII fund, subject to contract negotiations.

The target amount seems to be greater than the company’s predecessor, Fund VI, which held a final close in April 2019 on $4.6 bn of equity and went on to invest in Europe, APAC, North America and Latin America in opportunistic commercial real estate investments.

Lone Star’s latest iteration is expected to target debt and equity investments.

The majority of the portfolio could include transactions in Europe, North America and Japan. Fund VII could also invest up to 15% of its capital in other markets around the globe.


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