Lone Star Funds raises $4.5bn

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Lone Star Funds has raised $4.5 billion for its Lone Star Fund X, according to a SEC filing. The Dallas-headquartered firm began fundraising in 2016 with a $6 billion target.

Its previous fund raised $7.2 billion in 2014.

Investors that committed to Lone Star Fund X include the New Mexico Educational Retirement Board and the Teachers' Retirement System of Louisiana.

The fund will target distressed debt opportunities in a diverse number of properties globally.