Texas-based private equity firm Lone Star Funds has laid off most of its investment team in Asia outside Japan in a major retreat from the region, three people familiar with the situation told Reuters. The retreat mainly resulted from the firm not finding much investment opportunity in Asia outside Japan, the people said. A Lone Star spokesperson referred to the firm's announcement on July 8 about global business consolidation and reorganisation in Asia. It manages three types of funds - the commercial real estate fund, the opportunity fund and the U.S. residential mortgage fund. It raised $4.6 billion in the global Lone Star Real Estate Fund VI and $8.1 billion in Lone Star Fund XI in 2019.

Source: Mint July 21, 2021 09:00 UTC