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Lone Star closes private debt fund at $8.2 billion

Lone Star Funds closed its latest private debt fund, Lone Star Fund XI, at $8.2 billion, spokeswoman Christina Pretto said.

The fund, the largest for the firm, invests in company debt and multifamily residential debt.

Its predecessor fund, Lone Star Fund X, closed at $5.5 billion in 2016.

Investors in the latest fund include the $153 billion Texas Teacher Retirement System, Austin; $21.3 billion Los Angeles Fire & Police Pension System; $20.1 billion Louisiana Teachers' Retirement System, Baton Rouge; and $2.3 billion Chicago Policemen's Annuity & Benefit Fund.