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Alternative Market Briefing

Starwood rakes in $10bn for distressed real-estate deals

Monday, October 18, 2021

Laxman Pai, Opalesque Asia:

The Miami, Florida-based Starwood Capital Group has raised $10 billion for its latest real estate fund, bringing the U.S. private investment firm's total assets under management to over $95 billion.

The fundraise for Starwood Distressed Opportunity Fund XII exceeded the $7.6 billion it had raised for a similar fund in 2018, the company said.

The Miami Beach, Fla.-based firm said SOF XII will invest in distressed real estates such as hotels, office buildings, and residential housing. It can be invested in the U.S. and Europe, according to Barry Sternlicht, Starwood's chairman and chief executive.

Barry Sternlicht, Chairman and CEO of Starwood Capital said: "SOF XII is off to an excellent start and we are confident it will continue our tradition of finding valuable investments with over 35% of the fund deployed in closed and approved transactions."

Michael Lefton, Managing Director and Global Head of Capital Raising and Investor Relations at Starwood Capital said: "We are privileged to work with a diverse and sophisticated investor base, including pensions, sovereign wealth funds, foundations, endowments, wealth managers, family offices, and high net worth investors from more than 30 countries."

Starwood Capital affiliates have already closed or committed to 25 transactions in SOF XII, requiring over $3.5 billion of equity. These investments are in Australia, England, Denmark, Ireland, Italy, Japan, Spain, and the United States.......................

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