Lone Star Opportunity Fund

Lone Star Opportunity Fund, L.P. (“Lone Star Opportunity Fund”), formed in November 1996, held its final closing in March 1997 with capital commitments of $396 million.  Over its 22 month investment period, Lone Star Opportunity Fund invested all of its equity capital in 46 investments comprised of 725 assets with an aggregate purchase price of approximately $1.3 billion.  Transactions consummated by Lone Star Opportunity Fund included investments in non-performing and sub-performing mortgage debt, origination of high loan-to-value mortgages and direct ownership of developed and underdeveloped real estate. In Lone Star Opportunity Fund, the general partner developed a framework for investing in cross-border transactions in France, Canada, Mexico and Japan.  Lone Star Opportunity Fund has liquidated all of its investments.