Info on LStar Capital?
Does anyone here know anything about LStar Capital (Comp, culture, reputation or target deals)? I have tried searching around and can't find much about them. I know they are the credit arm of Lone Star Funds and are based out of NYC as opposed to most of Lone Star's other operations.
Some of what I've seen makes it sound like they purchase large portfolios of non-performing or distressed loans and workout the underlying assets, but some other sources make it sound like they target traditional commercial mortgages. Google has not been very helpful as most of the result relate to LStar's film financing activities.
Any help would be appreciated.
LStar has a debt team that focuses on first mortgages. They don't do construction and focus mostly on stabilized or light value add deals from what I've seen.
I know they have a team of around ~5 out of the Dallas office. I think in 2015 they might have originated around $350MM in CRE loans if I recall correctly. They primary due CMBS and retain the B-piece in each deal. I've met some of the people on their team and all the VP’s were nice guys.
LStar/Lonestar/Hudson gets a rather outdated negative rep on their culture, but from people I know who have worked form them as of late, it’s no better or worse than any other financial firm. Can’t really comment on comp or NYC office.
Agree with the comments above (origination focus, stabilized assets, CMBS, retain the b-piece, etc.). I think LStar Capital recently raised a new fund and they are looking for warm bodies. Culturally I've heard it's a pretty cut throat environment and managers keep a keen eye on cost centers which can lead to layoffs. Hours are long but comp should be strong relative to market. The firm has made some very interesting investments in previous years and the firm has a solid track record. Great place to cut your teeth.
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