Lone Star Funds has set a $6bn (€5.6bn) capital-raising target for its latest global real estate fund, according to a potential investor.
The Teachers’ Retirement System of Louisiana (TRSL) disclosed in a meeting document that it has approved a $75m commitment to the Lone Star Real Estate Fund VII fund, subject to contract negotiations.
The Lone Star fund is expected to target debt and equity investments. The majority of the portfolio could include transactions in Europe, North America and Japan. Fund VII could also invest up to 15% of its capital in other markets around the globe.
Lone Star declined a request for comment.
TRSL has also made a $50m commitment to EQT Infrastructure VI, the EQT global infrastructure fund with a €21bn hard cap target.
EQT will be issuing a co-investment of at least 1% of EQT Infrastructure VI’s total commitments into the fund.
The manager raised €15.7bn for EQT Infrastructure V, EQT’s predecessor fund which closed in November 2021.
The earlier fund has mainly invested in Europe and North America and targets sectors like energy, environmental, transportation, logistics, social and telecommunications.
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