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Lone Star Raising $6B for Distressed CRE

DALLAS—Distress game behemoth Lone Star Funds is now gearing up to raise its third real estate vehicle, with a target of $6 billion, according to SEC documents.

By Sule Aygoren | Updated on June 21, 2013

DALLAS—Distress game behemoth Lone Star Funds is now gearing up to raise a new fund, this time with a target of $6 billion. The latest vehicle, Lone Star Real Estate Fund III, comes a month after the locally based private equity firm completed fundraising on its $5-billion residential fund. The news was reported earlier this week by Pensions & Investments, and confirmed when the firm filed documents with the Securities & Exchange Commission yesterday.

When contacted, a Lone Star representative stated the firm does not comment on its fundraising activities. Yet according to the SEC documents, the firm indicated the minimum investment for the fund is $25 million, though “the general partner reserves the right to accept commitments of lesser amounts.” At the time, no capital had yet been committed to LSREF III. The firm also declined to disclose its revenue goal in the filing.

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