The Real Deal Miami

Lone Star to raise $5B for new fund

January 08, 2013 02:15PM

John Grayken

John Grayken’s real estate investor, Lone Star Fund, has launched a new  property fund with the aim of raising $5 billion, Bloomberg News reported. The Dallas-based firm has begun seeking pledges for Fund VIII, with initial commitments scheduled for completion at the end of February, according to Anthony Breault, senior investment officer for real estate at Oregon’s pension fund, one of Lone Star’s largest backers. “The decision is primarily a staffing allocation and time consideration,” Breault said. “I expect Lone Star will be able to achieve the targeted fund raise, given enough time.” [more]