Starwood Capital Group announced the final closing of its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, with capital commitments of more than $10.2 billion.
Along with existing commitments to Starwood Capital’s other investment vehicles, the firm’s assets under management now total approximately $130 billion.
SOF XIII will continue focusing on real assets globally, with the flexibility to shift between asset classes, geographies, and positions in the capital stack. And the fund will primarily target transactions across the United States and Europe, along with selective opportunities in Asia Pacific.
The fund will focus on a strategic mix of residential, data center, industrial, and hospitality assets. SOF XIII was backed by more than 300 new and existing investors across approximately 20 countries, including pensions, sovereign wealth funds, foundations, endowments, wealth managers, family offices, and high-net-worth investors.
Starwood Capital Group and related parties have also committed $100 million to SOF XIII.
Starwood Capital has already closed or committed to 20 transactions through SOF XIII, representing more than $3 billion of equity. And the initial portfolio includes significant investments in housing, industrial, and data centers across the United States, Europe, and Asia.
Founded in 1991, Starwood Capital Group is a private investment firm focused on real assets globally. The firm has raised over $95 billion of capital since inception and currently has about $130 billion of assets under management.
KEY QUOTES:
“We are very grateful for our investors’ continued strong support. This is a testament to the strength of our team and the trust our LPs place in us. We are excited about the opportunities we have already sourced for this fund and are proud of our track record of delivering results for our investors through market cycles. With our scale, resources and breadth of talent, we are well-positioned to execute on opportunities in this compelling environment for real estate.”
Barry Sternlicht, Chairman and CEO of Starwood Capital
“We could not be more proud of our brand, our strategy and our team’s capabilities, and of the results we have consistently delivered for our investors. With a growing team of more than 350 investment professionals and an expanding global footprint, we have the talent, scale and conviction to continue delivering great performance. We are seeing strong tailwinds driven by slowing supply in traditional real estate asset classes and tremendous growth in technology and manufacturing – this is an exciting time to be investing in real estate.”
Jonathan Pollack, President of Starwood Capital
