Private fund adviser · Dallas, TX
Lone Star Funds
Lone Star Americas Acquisitions, Inc. · SEC-registered investment adviser · CRD 160000 · SEC 801-73558
At a glance
Lone Star Funds is an SEC-registered investment adviser based in Dallas, Texas, with $35.7 billion in regulatory assets under management as of its Form ADV filed August 31, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 218th of 4,686 private fund advisers and 571st of 17,210 SEC-registered advisers by assets.
Main office 214-754-8300lonestarfunds.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $36B
- Rank among private fund advisers
- #218 of 4,686
- Rank among all SEC RIAs
- #571 of 17,210
- Rank in Texas
- #18 of 1,081
- Clients
- 31
- Accounts
- 31
- Discretionary
- 100% of AUM
- Employees
- 36
- Advisory staff
- 17
- Offices
- 2
Owners and executives on its Form ADV
- Michael D. KingChief Compliance Officer - Lone Star Americas Acquisitions, Inc.
- Rebecca M. SmithDirector - Lone Star Americas Acquisitions, Inc.
- Faith L. McManusDirector - Lone Star Americas Acquisitions, Inc.
- Vinay KhandelwalChief Operating Officer
Custody and brokerage
Custodian
Lone Star Funds’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 31 | $36B | 100% |
Private funds
Lone Star Funds reports 33 private funds with $40B in gross assets: hedge funds, private equity funds, real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Lone Star Funds answers yes to 3 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
How it’s paid
- Other
Form ADV and brochures on the SEC’s adviser search ↗lonestarfunds.com ↗
AtlasMembers
The full record on Lone Star Funds
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 464 peers of its type and size
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- Owners and executives, with titles and stakes
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- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Background
Questions
How much does Lone Star Funds manage?
Lone Star Funds reports $35.7 billion in regulatory assets under management across 31 accounts, 100% of it on a discretionary basis, on its Form ADV filed August 31, 2026.
What kind of firm is Lone Star Funds?
Lone Star Funds is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. It reports a bank or thrift among its related persons.
Who are Lone Star Funds’s clients?
By assets, its largest client types are pooled investment vehicles ($35.7 billion, 31 clients).
Does Lone Star Funds manage private funds?
Yes. It reports 33 private funds with $39.9 billion in gross assets, including hedge funds, private equity funds, real estate funds.
Does Lone Star Funds have any disciplinary history?
Lone Star Funds answers yes to 3 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Lone Star Funds’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-08-31), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →