Lone Star Funds
Lone Star Funds are closed-end, private-equity limited partnerships that include corporate and public pension funds, university endowments, foundations, bank holding companies, family trusts and insurance companies. Since 1995, the principals of Lone Star have organized private equity funds totaling more than $13.3 billion to invest globally in secured and corporate unsecured debt instruments, real estate related assets and select corporate opportunities.
Lone Star Funds made headlines in July 2008 after buying $30.6 billion gross notional amount of U.S. super senior ABS CDOs for $6.7 billion (22 cents on the dollars) from Merrill Lynch (NYSE: MER), with Merrill financing 75% of the purchase price.
PHOENIX, AZ -- (MARKET WIRE) -- 10/13/09 -- Jeff Walton, the former CEO of Bear Stearns Residential Mortgage and Greg Russell, formerly a Managing Director of Hudson Advisors, the asset management operation for Lone Star Funds, announced today that they have joined forces with First Arizona Savings FSB to launch a residential mortgage origination platform, focused on opportunities in the Western U.S. with plans to expand nationally. The mortgage origination platform, National Residential Mortgage, a division of First Arizona Savings ...
NEW YORK--(BUSINESS WIRE)-- Fitch Ratings upgrades the U.S. residential servicer rating for Vericrest Financial, Inc. (Vericrest) as follows: --Residential Primary servicer rating for subprime product to 'RPS3' from 'RPS3-'. Although Vericrest has a limited operating history under the new ownership, Lone Star Funds (Lone Star), a non-publicly rated entity, the upgrade reflects Vericrest's seasoned management team, reliable loan administration, enhanced default management practices, and strong technology platform. Vericrest is a privately held ...
Lone Star Funds bought $239 million of mortgages from CIT Group (NYSE: CIT) back in July 2008. It also bought CDOs from Merrill Lynch before its firesale to Bank of America (NYSE: BAC).
According to reports from the Wall Street Journal, China's sovereign-wealth fund, China Investment Corp., is looking to invest in U.S ...
NEW YORK, Aug. 26 /PRNewswire/ -- Mission Capital Advisors, LLC, an industry leading commercial, residential and consumer loan sale advisor with offices in New York, Florida, Texas and California, is currently marketing a portfolio of commercial mortgage loans with an outstanding balance of approximately $252,000,000. The sale offers prospective bidders an opportunity to acquire non-performing assets, secured by a variety of collateral types, including multifamily, office, retail, industrial, and mobile home parks throughout Michigan, Ohio, Illinois and Indiana. The majority of the assets are operating and providing cash-flow to offset operating expenses and will trade ...
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Could Hedge Funds Be Emerging As The New Mortgage Middleman?
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Is Merrill Lynch (MER) Next?
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Merrill's (MER) CEO Thain Said No Put on CDO Sale - CNBC
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StreetInsider.com Top 10 News Items 7/28-8/1: Merrill, ImClone, Biogen/Elan, More...
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Lehman Brothers (LEH) Considering Merrill-Like Fire Sale of Mortgage Assets - NYP
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Merrill Lynch (MER) Announces Sale of U.S. ABS CDOs; To Issues $8.5 Billion in Common Stock
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CIT Declares Dividend of 10c; Announces Completion of Home Lending Sale
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Unusual 11 Mid-Day Movers 7/1: HYGS, COIN, CIT, VSE Higher; DTG, EMKR, VLNC, AOI Lower
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Notable Mergers and Acquisitions of the Day 7/1 (CIT, UTSI, GA)
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Pre-Open Movers 7/01: CIT Group (CIT) Higher on Home Lending Biz Sale; Fortune Brands (FO) Lower on Warning
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CIT Group (CIT) Sells Home Lending Biz to Lone Star Funds
