Lone Star Funds, the private-equity firm founded by billionaire John Grayken, submitted winning bids for $3.9 billion of soured home loans sold this month by the Department of Housing and Urban Development.
John Grayken, founder of Lone Star Funds, has a record of generating more than 20 percent returns over two decades as the world’s biggest buyer of delinquent mortgages. What he doesn’t have is a designated successor.
Lone Star Funds, the world’s biggest buyer of delinquent mortgages, promoted Andre Collin to the new role of president of the Dallas-based private-equity firm, reporting to Chairman John Grayken, according to an e-mail sent to investors.
Lone Star Funds, the private-equity firm led by Chairman John Grayken, bought 23 buildings from State Farm Mutual Automobile Insurance Co. and will lease them back to the largest U.S. property-casualty insurer.
Lone Star Funds, the biggest buyer of delinquent mortgages, is leading the fundraising pack for real estate private equity with a $6 billion target for a pool to buy distressed commercial-property debt and equity.
Lone Star Funds, the world’s biggest buyer of delinquent mortgages, increased the target on its newest fund by 10 percent to $6.6 billion in response to investor demand, said two people with knowledge of the move.
Lone Star Funds, the real estate investment firm run by John Grayken , asked investors for six more months to raise $8 billion for two funds as it seeks to acquire troubled U.S. property loans from banks.