Lone Star Japan Acquisitions
Private equityDallas · Growth–Late Stage
Also known as Lone Star · Lone Star Americas Acquisitions, Inc. · Lone Star Japan Acquisitions Ltd.
Investment thesis
Lone Star positions itself as an experienced value investor targeting situations in flux or complicated by structural or financial factors, regardless of market conditions. It focuses on assets and cash flow irrespective of geography, sector or investment type, using rigor and flexibility to execute complex transactions quickly and deliver solutions for sellers and business owners. Operational resources help it identify and enhance value, partner with management teams and drive returns. A strong emphasis on risk management, capital markets and hedging capabilities supports confident execution across macroeconomic environments, drawing on a 30-plus year history and deep counterparty relationships to source market dislocations.
Source: firm website, verified Sep 1, 2026.
Fund performance · per public LP disclosures · 23
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Lone Star Fund XII, L.P.LPs: Michigan Municipal Employees' Retirement System, California State Teachers' Retirement System | 2024 | — | -2.7% | 0.99x | — |
| Lone Star Fund XILPs: California State Teachers' Retirement System, Michigan Municipal Employees' Retirement System, Imperial County Employees' Retirement System +1 more | 2019 | — | 25.1% | 1.58x | 0.89x |
| Lone Star Real Estate Fund VLPs: New York City Fire Department Pension Fund, New York City Board of Education Retirement System, Maryland State Retirement and Pension System | 2017 | — | 14.1% | — | 0.49x |
| Lone Star Fund IX (U.S.), L.P.LPs: Dallas Police & Fire Pension System | 2015 | — | -3.3% | 1.00x | 0.97x |
| Lone Star Real Estate Fund IVLPs: Employees' Retirement System of Rhode Island, Annie E. Casey Foundation, Maryland State Retirement and Pension System | 2015 | — | 6.3% | 1.16x | 0.87x |
| Lone Star Fund VIII (U.S.), L.P.LPs: Dallas Police & Fire Pension System, Annie E. Casey Foundation, Surdna Foundation Inc | 2013 | — | 16.3% | 1.20x | 1.24x |
| Lone Star Fund VIII (U.S.), L.P. 3LPs: Dallas Police & Fire Pension System | 2013 | — | 17.3% | 1.27x | 0.74x |
| Lone Star Real Estate Fund IIILPs: New York City Fire Department Pension Fund, Dallas Police & Fire Pension System, Annie E. Casey Foundation +1 more | 2013 | — | 8.2% | 1.10x | 1.13x |
| Lone Star Opportunities Fund V, LPLPs: Dallas Police & Fire Pension System | 2012 | — | -61.3% | 0.26x | 0.01x |
| Lone Star Opportunities VLPs: Dallas Police & Fire Pension System | 2012 | — | -14.8% | 0.30x | 0.10x |
| Lone Star Fund VII (U.S.), L.P.LPs: Dallas Police & Fire Pension System, Annie E. Casey Foundation, Hawaii Employees' Retirement System +1 more | 2011 | — | 47.5% | 1.80x | 1.77x |
| Lone Star Real Estate Fund (U.S.), L.P.LPs: Dallas Police & Fire Pension System | 2010 | — | 5.1% | 1.20x | 1.23x |
| Lone Star Real Estate Fund IILPs: Dallas Police & Fire Pension System, Hawaii Employees' Retirement System, Maryland State Retirement and Pension System +1 more | 2010 | — | 24.7% | 1.50x | 1.48x |
| Lone Star Real Estate Fund II (U.S.), L.P.LPs: Connecticut Retirement Plans and Trust Funds, Hawaii Employees' Retirement System | 2010 | — | 25.3% | 1.55x | 1.55x |
| Lone Star Real Estate Fund Il (U.S.), L.P.LPs: Connecticut Retirement Plans and Trust Funds, Hawaii Employees' Retirement System | 2010 | — | 25.3% | 1.55x | 1.55x |
| Lone Star Real Estate Partners IILPs: North Carolina Retirement Systems | 2010 | — | 25.8% | 1.56x | 1.56x |
| Lone Star CRALPs: Dallas Police & Fire Pension System | 2008 | — | 9.9% | 1.90x | 1.37x |
| Lone Star CRA FundLPs: Dallas Police & Fire Pension System | 2008 | — | 8.0% | 1.60x | 1.23x |
| Lone Star Fund V (U.S.), L.P.LPs: Dallas Police & Fire Pension System, Rockefeller Foundation, Surdna Foundation Inc | 2008 | — | -1.4% | 0.90x | 0.93x |
| Lone Star Fund VI (U.S.), L.P.LPs: Dallas Police & Fire Pension System, Annie E. Casey Foundation, Rockefeller Foundation +1 more | 2008 | — | 21.8% | 1.60x | 1.58x |
| Lone Star Growth CapitalLPs: Dallas Police & Fire Pension System | 2006 | — | -20.5% | 0.60x | 0.64x |
| Lone Star Fund IV (U.S.), L.P.LPs: Dallas Police & Fire Pension System, Surdna Foundation Inc | 2001 | — | 30.2% | 2.30x | 2.30x |
| Lone Star Fund III (U.S.), L.P.LPs: Dallas Police & Fire Pension System | 2000 | — | 31.9% | 2.10x | 2.05x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Lone Star Japan Acquisitions invest at?
- Lone Star Japan Acquisitions invests at the Growth, Late Stage stages.
- What sectors does Lone Star Japan Acquisitions focus on?
- Lone Star Japan Acquisitions focuses on Sector Agnostic.
- Where is Lone Star Japan Acquisitions located?
- Lone Star Japan Acquisitions is headquartered in Dallas, US.
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