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词条 Lone Star Funds
释义

  1. History

  2. Investment approach

  3. Motion picture financing

  4. Funds investment vehicles

  5. References

  6. External links

{{Infobox company
| name = Lone Star Funds
| logo = Lone Star Funds new logo.png
| type = Limited partnerships
| foundation = {{Start date and age|1995}}
| founder = John Grayken
| key_people = John Grayken
(Founder & Chairman)
André Collin
(President)
| location = Tower at Cityplace
Dallas, Texas, United States
| industry = Private equity
| products = Investments, Private equity funds
| assets = $45 billion[1]
| num_employees =
| homepage = {{URL|http://www.lonestarfunds.com}}
}}Lone Star Funds is an American private equity firm that invests in distressed assets in the U.S., Canada and internationally.[2] The founder of Lone Star established its first fund in 1995 (under a different name) and Lone Star has to date organized fifteen private equity funds with total capital commitments since inception of over $59 billion (as of June 2015).[3] Lone Star’s investors include corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high-net-worth individuals.[4] Lone Star Funds has affiliate offices in North America, Europe and Japan.[5]

Hudson Advisors LLC, an approximately 800-person global asset management company owned and controlled by the founder of Lone Star, performs due diligence and analysis, asset management and related services for Lone Star Funds.[6] In this capacity, Hudson Advisors LLC has managed in excess of $95 billion of assets for Lone Star Funds since inception.[7]

History

Lone Star was founded by John Grayken.[8] From 1993 to 1995, Mr. Grayken was Chairman and CEO of Brazos Partners L.P., a joint venture between the Robert M. Bass Group and the Federal Deposit Insurance Corporation,[9] that resolved approximately 1,300 “bad bank” assets resulting from the U.S. savings and loan crisis in the early ‘90s.[10] During this period, Brazos Advisors LLC was formed to provide asset-management and related services to Brazos Partners.

Following Brazos Partners, Grayken organized institutional capital to continue investing in distressed assets, closing Brazos Fund, L.P. in 1995 with approximately $250 million of capital commitments.[11]

Lone Star Opportunity Fund, L.P. followed in 1996, with approximately $396 million of capital commitments.[12] At that time Brazos Advisors, LLC was renamed Hudson Advisors LLC.[13]

After an expansion into Canada in 1995 and 1996, Grayken pursued the launch of a global platform for Lone Star in 1997.[14] Since then, Lone Star has invested extensively in North America, Europe and East Asia.[15] Lone Star invested primarily in East Asia, including Japan, Korea, Indonesia and Taiwan, following the Asian financial crisis in the late 1990s.[16] In the mid-2000s, following the establishment of the Eurozone, Lone Star increased its investment focus in Europe.[10] And with the onset of the global financial crisis, from 2007 Lone Star was again actively investing in the U.S.[8]

In July 2015, Lone Star acquired the UK property investment and development company Quintain for £700 million.[17]

In March 2017, the Portuguese Central Bank announced that Lone Star Funds will acquire 75% of third largest Portuguese bank, Novo Banco, in return for a capital injection of €1bn.[18] The other 25% will be retained by the Portuguese bank's resolution fund. In October 2017 the deal was closed and Lone Star Funds started controlling 75% of Novo Banco.[19]

Investment approach

Lone Star invests in a variety of asset classes, primarily distressed opportunities in developed markets.[20]

Motion picture financing

Through its credit affiliate, LStar Capital (officially LSC Film Corporation), the company entered the motion picture financing sector when they signed a $200 million deal with Sony Pictures in early 2014. The deal gives them a financial stake in nearly all of Sony's upcoming films.[21] However, due to the poor box-office performance of Sony's movies, the two firms severed ties on July 17, 2017, two years before the deal was set to end.[22]

Funds investment vehicles

Fund Vintage
Year
Committed
Capital
Lone Star Fund X 2016 $5.5B
Lone Star Real Estate Fund V 2016 $5.8B
Lone Star Real Estate Fund IV 2015 $5.8B
Lone Star Residential Mortgage Fund I 2015 $1.3B
Lone Star Fund IX 2014 $7.2B
Lone Star Real Estate Fund III 2013 $7.0B
Lone Star Fund VIII 2013 $5.1B
Lone Star Fund VII 2010 $4.6B
Lone Star Real Estate Fund II 2010 $5.5B
Lone Star Fund VI 2008 $7.5B
Lone Star Real Estate Fund 2008 $2.4B
Lone Star Fund V 2005 $5.1B
Lone Star Fund IV 2002 $4.2B
Lone Star Fund III 2000 $2.3B
Lone Star Fund II 1999 $1.2B
Lone Star Opportunity Fund 1997 $396M
Brazos Fund 1995 $250M
[23][24][25][26]

References

1. ^{{cite web |url=http://www.lonestarfunds.com/En/lonestarfunds_summary.htm |title=Fund Summary |deadurl=yes |archiveurl=https://web.archive.org/web/20111208160943/http://www.lonestarfunds.com/En/lonestarfunds_summary.htm |archivedate=2011-12-08 |df= }}
2. ^{{cite web| url = http://www.unquote.com/benelux/news/2264852/lone-star-and-credit-suisse-buy-eur67bn-rpi-portfolio|title= Lone Star and Credit Suisse buy €6.7bn RPI portfolio|author= Ellie Pullen|publisher= Unquote.com|date = April 29, 2013}}
3. ^{{cite web| url = http://www.unquote.com/benelux/news/2264852/lone-star-and-credit-suisse-buy-eur67bn-rpi-portfolio|title= Kardan sells 27.75% stake in CEE real estate company GTC SA|publisher= Property EU|date = November 17, 2013}}
4. ^{{cite web| url = http://www.bizjournals.com/dallas/stories/2010/08/23/story7.html?page=all|title= Lone Star selling S.E. grocery chain|author= Chad Eric Watt|publisher= Dallas Business Journal|date = August 22, 2010}}
5. ^{{cite web| url = http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21543|title= Company Overview of Lone Star Funds|publisher= Bloomberg BusinessWeek|accessdate = November 24, 2013}}
6. ^{{cite web| url = http://www.hudson-advisors.com/En/about.htm|title= About Hudson Advisors|publisher= Hudson Advisors |accessdate = November 24, 2013}}
7. ^{{cite web |url= http://www.insideview.com/directory/hudson-advisors-l-l-c |title= Hudson Advisors, L.L.C. |publisher= Inside View |accessdate= November 24, 2013 |deadurl= yes |archiveurl= https://archive.is/20131126002113/http://www.insideview.com/directory/hudson-advisors-l-l-c |archivedate= November 26, 2013 |df= }}
8. ^{{cite web| url = http://upstart.bizjournals.com/news-markets/top-5/2008/08/25/Lone-Star-John-Grayken-Profile.html|title= Lone Star |author= Megan Barnett|publisher= Unquote.com|date = April 29, 2013}}
9. ^{{cite web| url = https://www.nytimes.com/2008/07/30/business/worldbusiness/30iht-lonestar.1.14878273.html?_r=2&|title= An Investment Firm That Prospered From Past Crises Turns to Mortgages|author= Jenny Anderson|publisher= The New York Times|date = July 30, 2008}}
10. ^{{cite web| url = http://privatemarkets.thomsonreuters.com/distress-specialist-lone-star-turns-to-europe/21087886.article?sm=21087886 |title= Distress Specialist Lone Star Turns To Europe|author= Steve Bills|publisher= Thomson Reuters|date = May 30, 2013}}
11. ^{{cite web| url = http://www.lonestarfunds.com/about-us/history/ |title= About Lone Star|publisher= Lone Star Funds|accessdate = November 25, 2013}}
12. ^{{cite web| url = http://www.hudson-advisors.com/En/record.htm |title= Hudson Advisors Successful Track Record|publisher= Hudson Advisors|accessdate = November 25, 2013}}
13. ^{{cite web| url = http://www.thefreelibrary.com/Brazos+Advisors+renamed+Hudson+Advisors;+corporate+offices+relocated.-a019289591|title= Brazos Advisors renamed Hudson Advisors; corporate offices relocated|publisher=Business Wire|date = April 9, 1997}}
14. ^{{cite web| url = http://retirement.ladwp.com/AgendaItems/Agenda%20-%2020100825%20Item%2009.pdf|title= Los Angeles Department of Water and Power Retirement Board Interdepartmental Correspondence|publisher=Los Angeles Department of Water and Power Retirement Board|date = August 18, 2010}}
15. ^{{cite web| url = http://www.bizjournals.com/birmingham/stories/2005/01/31/daily4.html?t=email_story|title= Ahold completes Bruno's, Bi-Lo sale|publisher=Birmingham Business Journal|date = January 31, 2005}}
16. ^{{cite web| url = http://www.bizjournals.com/nashville/stories/2003/09/29/story3.html?page=all|title= Shoney's a typical fit for Lone Star Funds|author= Keith Russell|publisher=The Tennessean|date = April 7, 2002}}
17. ^{{cite news|last1=Kollewe|first1=Julia|title=Lone Star buys Wembley Arena owner Quintain for £700m|url=https://www.theguardian.com/business/2015/jul/29/lone-star-buys-wembley-arena-owner-quintain-700-million-|accessdate=29 July 2015|work=The Guardian|date=29 July 2015}}
18. ^{{cite web|title=Lone Star to Buy Controlling Stake in Portugal’s Novo Banco|url=https://www.nytimes.com/2017/03/31/business/dealbook/portugal-lone-star-novo-banco.html|publisher=The New York Times|date=March 31, 2017|author=Chad Bray}}
19. ^{{cite web|title=Lone Star takes charge of Portugal's state-rescued Novo Banco|url=https://www.reuters.com/article/us-portugal-novobanco-lone-star/lone-star-takes-charge-of-portugals-state-rescued-novo-banco-idUSKBN1CN1HG|publisher=Reuters |date=October 18, 2017}}
20. ^{{cite web| url = http://www.probitaspartners.com/pdfs/Distressed+-+Overview.pdf|title=An overview of the private equity distressed debt and restructuring markets|author= Kelly DePonte|publisher=Probitas Partners|date = May 2010}}
21. ^{{cite web|url=http://www.thewrap.com/sony-nails-200-million-co-financing-deal-lstar-capital-citibank/|title=Sony Nails $200 Million Co-Financing Deal with LStar Capital, Citibank|publisher=The Wrap|date=April 9, 2014}}
22. ^{{Cite news|url=http://www.latimes.com/business/hollywood/la-fi-ct-sony-lstar-financing-20170717-story.html|title=Sony Pictures and co-financing partner LStar Capital cut ties|last=Faughnder|first=Ryan|date=2017-07-17|work=Los Angeles Times|access-date=2017-07-19|language=en-US|issn=0458-3035}}
23. ^{{cite web| url = http://www.lonestarfunds.com/funds-raised/ |title= The Funds|publisher= Lone Star Funds|accessdate = November 15, 2013}}
24. ^{{Cite news| url =http://www.independent.ie/business/commercial-property/lone-star-aims-for-more-deals-in-europe-31169204.html|title=Lone Star aims for more deals in Europe|author= Peter Flanagan|publisher=Irish Independent |date =April 26, 2015}}
25. ^{{Cite news| url =http://privatemarkets.thomsonreuters.com/buyouts/lone-stars-first-home-mortgage-fund-beats-$1-bln-target/21179546.article|title=Lone Star's first home mortgage fund beats $1 bln target|author=Steve Gelsi|publisher=Buyouts Insider|date =January 5, 2015}}
26. ^{{Cite news| url =http://www.pionline.com/article/20150106/INTERACTIVE/150109962/largest-closed-end-private-real-estate-funds-raised-in-2014|title=Largest closed-end, private real estate funds raised in 2014|author=Timothy Pollard|publisher=Pensions & Investments|date =January 6, 2015}}

External links

  • Official website
{{Private equity and venture capital}}

3 : Private equity firms of the United States|Companies based in Dallas|Companies established in 1995

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