Lone Star Funds raises $8.2bn

The Dallas-based private equity firm held a final close of its eleventh fund.

Lone Star Funds held a final close of Lone Star Fund XI at $8.2 billion, which surpassed its initial target of $6 billion.

The fund will make investments in distressed companies across multiple sectors, including multifamily residential debt.

LSF XI’s predecessor, Lone Star Fund X, closed at $5.5 billion in November 2016.

Institutional investors in the fund include Chicago Policemen’s Annuity & Benefits Fund, Teachers’ Retirement System of Louisiana, Teacher Retirement System of Texas, Los Angeles Fire & Police Pension System and New York State Teachers’ Retirement System (NYSTRS).