Private equity firm Lone Star Funds—which is based in Dallas with offices in 10 cities, including New York, London, Beijing, and Tokyo—has announced the final close of its latest commercial real estate fund, Lone Star Real Estate Fund VII, L.P. (LSREF VII). Total capital available to the fund is around $2.7 billion, the firm said.
Lone Star said the fund will target opportunistic and value-add commercial real estate investments including direct commercial real estate equity, debt portfolios, and commercial real estate-related operating companies.
“With the ongoing complex and changing real estate landscape, LSREF VII anticipates deep-value and special situation investment opportunities across Europe, North America, and Japan,” CEO Donald Quintin said in a statement. “Lone Star has been investing in the broader commercial real estate sector for nearly 30 years, and we believe that the current environment is likely to play to our strengths as a disciplined and flexible opportunistic investor. We greatly appreciate the continued support of our longstanding partners who have supported us again during our most recent fundraise.”
Lone Star’s aggregate capital commitments have totaled $95B since 1995
Since Lone Star launched its first fund in 1995, it has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion, the firm said.
The predecessor to LSREF VII, the even larger Lone Star Real Estate Fund VI, L.P., had its final closing in June 2019, with aggregate capital commitments of approximately $4.6 billion.
In June of this year, Lone Star held the final closing for Lone Star Fund XII, L.P., the latest in the firm’s Opportunity Fund series. Aggregate capital commitments of that fund totaled around $5.3 billion, the firm said.
Acquired Netherlands-based ERICKS in May
Lone Star has made other moves recently beyond fund raising. In May, the firm acquired Netherlands-based ERIKS N.V., a specialized pan-European industrial components distributor and engineering service provider. Terms of the deal were not disclosed.
“ERIKS represents an exciting investment opportunity and a valuable addition to our European investment portfolio,” Quintin said at the time. “This acquisition aligns with our strategy of investing in market leading businesses that exhibit both growth and operating improvement potential. We’e excited to work alongside the ERIKS team to further scale the business and accelerate the delivery of innovative solutions to their customers.”
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Donald Quintin has been appointed chief executive officer and global president of Dallas-based Lone Star, a global private equity firm. Quintin joined Lone Star in 2010 and has served in multiple leadership positions, most recently as president of opportunity funds overseeing the origination and operations of the Opportunity Fund and the Residential Mortgage Fund strategies. Before Lone Star, Quintin was a managing director at Merrill Lynch and managed various businesses and legacy portfolios. He began his career at Bankers Trust and then Salomon Brothers. Lone Star invests in real estate, corporate equity, credit, and other financial assets. Since the establishment…
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Founded in 1940, ERIKS is a provider of specialized industrial services with more than 200 locations in 12 countries. It offers a wide range of technical products and co-engineering and customization solutions.
