About This Fund
Lone Star Fund XI, L.P. (LSF XI) is the eleventh dedicated opportunistic private equity fund raised by Dallas-based Lone Star Funds, one of the world's most experienced alternative asset managers specializing in distressed credit and asset portfolio investing. Founded in 1995 by John P. Grayken, Lone Star has organized more than 20 private equity funds with over $85 billion in aggregate capital commitments, deploying capital across North America, Europe, and the Asia Pacific region. LSF XI held its final closing in February 2019, raising approximately $8.2 billion in aggregate capital commitments from a diverse group of institutional investors including pension funds, sovereign wealth funds, foundations, and endowments.
LSF XI follows Lone Star's signature opportunistic investment approach, pursuing assets and businesses that emerge during periods of market dislocation, financial stress, or regulatory change. The fund deploys a flexible mandate across corporate equity, non-performing loan portfolios, and real estate-related operating companies, prioritizing situations where sellers require liquidity and assets benefit from active capital support and management direction. The fund's investment horizon typically spans four to seven years, targeting risk-adjusted returns through operational improvement and strategic repositioning of acquired businesses and portfolios across North America, Europe, and Asia Pacific.
Over its 53-month investment period, LSF XI deployed its equity capital into 15 investments comprising approximately 163,272 assets with an aggregate purchase price of approximately $20.9 billion. The predecessor Lone Star Fund X closed in November 2016 with approximately $5.5 billion in commitments, and the successful raise and deployment of LSF XI further reinforces Lone Star's track record as a specialist in acquiring and managing distressed credit and asset portfolios through multiple market cycles since 1995.