John Grayken's Lone Star Funds Said to Open Argentina Office

  • Argentina back on investors’ radar under President Macri
  • Lone Star has raised more than $70 billion across strategies

Lone Star Funds, the Dallas-based investment firm founded by billionaire John Grayken, opened an office in Argentina, people with knowledge of the matter said.

The office in South America’s second-largest economy has been open for a few months to evaluate potential deals, said the people, who asked not to be identified because the information is private.

Argentina has returned to investors’ radar since market-friendly President Mauricio Macri took office in December 2015, removing capital controls and resolving a 15-year legal dispute with bondholders that allowed it to return to global debt markets. Macri is betting on foreign investment to jumpstart employment and drive growth to an economy that has been in recession for a year.

Lone Star was founded by Grayken, 60, in 1995. The firm has raised more than $70 billion for investing across strategies including buyouts, real estate and credit, according to its website. Last year, Lone Star raised $5.5 billion for a debt fund and $5.8 billion for a real estate fund, the website shows.

A spokeswoman for Lone Star declined to comment.

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