Lone Star Funds raises $4.7bn

The global private equity firm closes sixth commercial real estate fund above target.

Lone Star Funds has held a final close for Lone Star Real Estate Fund VI at $4.7 billion, surpassing the initial target of $4.5 billion. The total raised includes third-party fund commitments and anticipated co-investments.

Investors in the firm’s sixth commercial real estate fund include the New Mexico Educational Retirement Board, the Teacher Retirement System of Texas, the South Dakota Investment Council and the Teachers’ Retirement System of the State of Illinois.

Lone Star Real Estate Fund V closed at $5.8 billion in April 2016.