Lone Star Funds Announces Succession Plan: Donald Quintin Named CEO

After years of speculation about the future of Lone Star Funds, the private equity giant has finally announced its succession plan. Founder John Grayken, known for his elusive and private nature, is set to step down as the firm’s chairman as he approaches his 68th birthday. In his place, Donald Quintin has been named as the company’s first CEO, marking a significant shift in leadership for the Dallas-based firm.

Quintin, who joined Lone Star in 2010 after orchestrating a major deal with Merrill Lynch, has steadily risen through the ranks at the firm. He brings a wealth of experience in distressed real estate assets, having spent time at Merrill Lynch, Bank of America, and Citigroup before joining Lone Star. His promotion to CEO signifies a new chapter for the firm, which has been under Grayken’s leadership since its founding in 1995.

Under Grayken’s stewardship, Lone Star has seen remarkable success, raising $87 billion across 23 funds and consistently generating impressive returns for investors. The firm has made a name for itself by acquiring distressed assets during times of economic turmoil, such as the Great Recession, and focusing on buying up distressed residential mortgages worldwide.

While Grayken himself is based in Ireland and the U.K. after renouncing his U.S. citizenship in 1999, Lone Star has maintained a strong presence in North Texas in recent years. The firm has made significant investments in the region, including the purchase of thousands of apartments from JPI in 2020 and two luxury hotels in Frisco in 2022.

With Quintin at the helm, Lone Star is poised for continued success and growth in the years to come. As the firm transitions to a new era of leadership, investors and industry insiders will be watching closely to see how Quintin steers the ship and builds on the legacy that Grayken leaves behind.