Latest news with #LoneStarFunds
Business Wire
16 hours ago
- Business
- Business Wire
Lone Star Funds to Acquire Portfolio of Nine Purpose-Built Student Accommodation Assets in the UK
DALLAS & NEW YORK & LONDON & TOKYO--(BUSINESS WIRE)--Lone Star Funds ('Lone Star') today announced that an affiliate of Lone Star Real Estate Fund VII, L.P. has reached an agreement to purchase nine Purpose-Built Student Accommodation ('PBSA') assets in the UK from affiliates of Unite Students ('Unite'), the UK's largest owner, manager and developer of PBSA, for £212 million, scheduled to close in August 2025. The portfolio comprises 3,656 beds across nine high-quality PBSA assets in five well-located university markets: Aberdeen, Leicester, Leeds, Nottingham and Sheffield. The assets present an opportunity for value creation through targeted capital investment and operational enhancements. 'This transaction aligns with Lone Star's global strategy of investing in resilient sectors of the housing market where we can leverage our expertise to unlock long-term value,' said Jérôme Foulon, Global Head of Commercial Real Estate for Lone Star. 'We continue to see attractive opportunities in the UK's PBSA sector, which benefits from the growing student population demand and a continued shortage of high-quality accommodation.' This acquisition marks Lone Star's second transaction with Unite in the past three years and further expands the firm's presence in the UK student housing sector. With this latest investment, Lone Star's PBSA portfolio now exceeds 10,000 beds in the market, offering enhanced scale and geographic diversification across top-tier university locations. About Lone Star Lone Star is a leading private equity firm advising funds that invest globally in corporate equity, credit, real estate and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion. The firm organizes its funds in three series: the Opportunity Fund series; the Commercial Real Estate Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to
Reuters
28-05-2025
- Business
- Reuters
BP's Castrol unit draws interest from Apollo, India's Reliance, Bloomberg News reports
May 28 (Reuters) - BP's (BP.L), opens new tab Castrol lubricants business is attracting interest from companies such as India's Reliance Industries ( opens new tab, Bloomberg News reported on Wednesday, citing people familiar with the matter. The business has also attracted interest from buyout firms Apollo Global Management (APO.N), opens new tab and Lone Star Funds, the report said, adding that a deal could fetch between $8 billion and $10 billion. BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management ( opens new tab and Stonepeak Partners, it added. BP and Apollo Global declined to comment, while Lone Star did not immediately respond to a Reuters request for comment. Reliance Industries did not immediately respond outside business hours in India. The bidders would join Saudi Aramco ( opens new tab in considering bids for all or part of the business. Reuters reported last week that BP is seeking buyers for its Castrol unit, citing sources.
Bloomberg
28-05-2025
- Business
- Bloomberg
BP's Castrol Unit Draws Interest From Reliance, Apollo and Lone Star
By , Mitchell Ferman, Ruth David, and Swetha Gopinath Save BP Plc 's Castrol lubricant business is attracting interest from energy companies including Reliance Industries Ltd. and buyout firms such as Apollo Global Management and Lone Star Funds, according to people with knowledge of the matter. BP has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management and Stonepeak Partners, the people said, asking not to be identified because discussions are private. The business could fetch between $8 billion and $10 billion in a deal, the people said.
Bloomberg
14-05-2025
- Business
- Bloomberg
A Portuguese Bank Sale Rekindles Old Fears of Spanish Dominance
Eight years after Portugal agreed to sell the remnants of what was once the country's largest lender to Lone Star Funds, plans by the US investor to sell Novo Banco are reviving deep-seated fears in the country. The bank, which was carved out from the breakup of Banco Espirito Santo SA more than a decade ago, said last week that it may go ahead with an initial public offering as early as June. But Lone Star, which owns 75%, is also considering a full sale of Novo Banco, with Spain's CaixaBank SA among potential suitors, Bloomberg has reported.
Bloomberg
09-05-2025
- Business
- Bloomberg
CaixaBank Explores Deal for Lone Star's Novo Banco
By , Jan-Henrik Foerster, Henrique Almeida, and Pablo Mayo Cerqueiro Save CaixaBank SA is among suitors exploring a potential acquisition of Novo Banco SA, the Portuguese lender backed by Lone Star Funds that is pursuing an initial public offering, according to people familiar with the matter. The Spanish lender has been holding talks with the buyout firm about a deal for Novo Banco, the people said, asking not to be identified as the information is private. The Portuguese bank could also attract interest from other suitors including French banking group BPCE, the people said.
