Real estate investment firm Lone Star Funds has raised about $5.5 billion for a real estate fund, Bloomberg reports. The Lone Star Real Estate Fund II, which is focused on acquiring commercial property assets, exceeded its target of $4 billion. New Jersey’s state pension invested about $100 million in Lone Star’s Fund II. The pension fund also invested $300 million in the Lone Star Fund VII, which seeks to acquire residential loan pools, securitized home mortgages and stakes in property lenders.
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