2025 Year in Review

Lone Star’s year of momentum, $14.1 billion in realizations

The firm drove significant investment activity — partnering with strong businesses and management teams, exiting companies and assets we helped transform and further developing our outstanding team and organization.

2025 also marked Lone Star’s 30th year. Since being founded in 1995, the firm has continuously evolved to meet challenges and opportunities in the global markets.

Today, the firm deploys a multi-strategy approach, which affords us the flexibility to invest in industries and geographies where we see value, whether it be in private equity, credit or real estate.

Often, these opportunities involve some level of complexity where we can bring to bear our track record of providing speed and certainty of execution and, importantly, our full team of dedicated professionals.

Our focus is creating value in complex situations across any market conditions.

2025 Key Numbers

19

Total Acquisitions

$8.7B+

Aggregate Purchase Price

12

Total Dispositions

$14.1B+

Total Realizations

Investment Activity Highlights

Awards & Commitments

novobanco honored with the awards of Best Commercial Bank and Most Sustainable Bank in Portugal at the International Banker Awards 2025.

In February 2025, Lone Star became a signatory to the Principles for Responsible Investment.

Two portfolio companies (Evoca and Manuchar) were awarded a Platinum rating by EcoVadis, which puts them in the top 1% of companies assessed globally.

Four portfolio companies have emissions reduction goals that are validated by the Science-Based Targets initiative.

All office portfolios in the CRE funds in 2025 held a LEED "Gold" or BREEAM "Very Good" rating or equivalent, representing high levels of sustainable building performance.

Firm News

Office Openings

Abu Dhabi

Al Khatem Tower

Floor 8, Unit 805

Al Maryah Island, Abu Dhabi
United Arab Emirates

Senior-Level Promotions & Appointments

Mitsuo Matsunaga

Executive Chairman, Japan

Keisuke Ando

Senior Managing Director, Commercial Real Estate Origination Japan

Roman Batichev

Managing Director, Private Equity Origination North America

Shannon Mahaffy

Managing Director, Capital Formation Americas

Senior-Level New Hires

Vernon Chin

Senior Managing Director, co-Head of North America Real Estate

Andrew Johnson

Global Head of Communications and Public Affairs

The information contained herein is provided as of December 31, 2025, unless otherwise noted, and is for informational purposes only. This material does not constitute an offer to sell or a solicitation of an offer to purchase any interest in any entity or investment vehicle, nor does it constitute an offer of advisory services. Please refer to the Terms of Use on our website for important additional information.

Total realizations represents the proceeds and expected proceeds from dispositions that closed during calendar year 2025 or were committed to close as of December 31, 2025. Aggregate Purchase Price represents the combined dollars required to acquire investment consummated by the respective Lone Star Funds. The investments presented are not representative of all of the investments of the Lone Star Funds. The information shown on this page should not be used as a basis for investment decisions nor should it be considered an indication of past or future performance of any Lone Star Fund or investment.