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Lone Star appoints UK acquisitions MD

Angus Dodd, a former managing director at JER Partners in Europe, has joined US firm Lone Star to search out UK investments.

Angus Dodd has joined Lone Star Management Europe as managing director responsible for identifying UK real estate investments.

Dodd was previously at JER Partners in Europe where he was managing director responsible for acquisitions in the UK and Germany. He left JER recently as the Virginia-based firm switched its strategy to focus on asset management.

According to a statement, the UK is one of Lone Star’s key European target markets. The firm said it saw opportunities to buy direct assets, real estate investment and operating companies, non performing loans and commercial mortgage-backed securities.

The statement added that some Lone Star funds would consider providing loan or preferred equity finance to property companies or to direct assets.

In February, it emerged Dallas-based Lone Star was raising two separate funds with a combined target of $20 billion.

The US firm is raising its second real estate fund targeting $10 billion for investment in distressed commercial assets, while a separate vehicle, Lone Star Fund VII, is raising the same amount to take advantage of distressed residential mortgages and defaulting corporate bonds and loans. Lone Star declined to comment.