Lone Star Funds founder and Chairman John Grayken would be betting USD330 million of his personal money to the company's commercial real estate fund worth USD6.6 billion. The investment commitment was revealed yesterday in a meeting of the Oregon Investment Council. The council had voted to inject USD300 million in the new fund. 

Grayken's investment was reportedly the biggest capital pledge by both dollar and percentage the billionaire had put into his Dallas-based firm's funds. According to London-based research firm for alternative assets Preqin, the new property fund would be the biggest pool being raised for real estate private equity in the world. Due to investor demand, the target investment amount has been raised from its original USD6 billion. The Oregon meeting had also disclosed that the initial investment commitments would be completed on September 27.

Lone Star head of investor relations Nick Beevers said, "We see the investment opportunities being extremely heavy (in Europe). We (also) expect continued substantial investment in the United States." Half of the fund would be invested in Europe while 30%-40% would be invested in the US.