Lone Star Funds is a global private equity firm founded in 1995 by John Grayken. The firm invests across three primary strategies: private equity, credit, and real estate, with a focus on value-oriented opportunities in complex or distressed situations. Since establishing its first fund in 1995, Lone Star has organized 26 private equity funds with aggregate capital commitments of approximately $96 billion as of 2024. The firm is headquartered in London with principal offices in Dallas, Texas, and maintains additional offices across North America, Europe, and Asia. Lone Star operates through its affiliate Hudson Advisors, which provides asset management services and has managed over $260 billion of assets since inception. The firm's investment philosophy centers on identifying undervalued or misunderstood opportunities in markets affected by economic or banking crises, with particular strength in liquidity-constrained but viable assets. As of December 31, 2025, the Real Estate Funds have completed 447 investments totaling approximately $177.9 billion in aggregate purchase price. Lone Star's real estate strategy targets both debt and equity opportunities across office, industrial, retail, multifamily, hospitality, student accommodation, and senior living properties. The firm has invested extensively in the United States, particularly in Sun Belt markets including Houston, Dallas-Fort Worth, Atlanta, Arizona, and Florida, as well as international markets with strong positions in the United Kingdom, Japan, Netherlands, Poland, and other European countries.