Lone Star amasses $5.6bn

The global private equity firm continues to target distressed assets.

Lone Star Funds has held a final close for Lone Star Fund X at $5.6 billion, above its original target of $5 billion. The vehicle pursues a distressed debt strategy in corporate and real estate markets globally.

New Mexico Educational Retirement Board, Teacher Retirement System of Texas, Chicago Policemen's Annuity & Benefits Fund, Los Angeles Fire & Police Pension System and Teachers' Retirement System of Louisiana are among the investors committed to the fund.

Lone Star Fund IX had raised $7.2 billion at final close in July 2014. Teachers' Retirement System of Louisiana and Teacher Retirement System of Texas were also investors in this vehicle.