Starwood Capital Group closed its latest opportunistic real estate fund with over $10.2 billion in commitments, bringing

Starwood Capital Group, a leading global private investment firm, announced the successful final closing of Starwood Distressed Opportunity Fund XIII, or SOF XIII, with capital commitments exceeding $10.2 billion. Combined with existing commitments to the firm's other investment vehicles, Starwood Capital's assets under management now total approximately $130 billion.

SOF XIII will focus on real assets globally with flexibility to shift between asset classes, geographies and positions in the capital stack. The fund will primarily target transactions across the United States and Europe, with selective opportunities in Asia Pacific, and will concentrate on a strategic mix of residential, data center, industrial and hospitality assets.

The fund was supported 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 committed an additional $100 million to SOF XIII.

Chairman and CEO Barry Sternlicht said, "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."

Jonathan Pollack, President of Starwood Capital, added, "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."

Starwood Capital has already closed or committed to 20 transactions in SOF XIII, deploying more than $3 billion of equity. The initial portfolio demonstrates the firm's breadth and global reach, with significant investments in housing, industrial and data centers in the United States, Europe and Asia.

Founded in 1991, Starwood Capital Group has raised over $95 billion of capital since inception. The firm invests through comingled opportunity funds and Starwood Real Estate Income Trust, Inc., a non-listed REIT, and has invested in virtually every category of real estate globally. The firm also manages Starwood Property Trust on the New York Stock Exchange, the largest commercial mortgage real estate investment trust in the United States, which has deployed over $117 billion of capital since inception and manages a portfolio exceeding $31 billion in debt and equity investments. Starwood Capital also manages over $6 billion in several private debt funds globally and operates affiliates including Highmark Residential, Starwood Digital Ventures, Starwood Hotels, Essex Title and Starwood Oil & Gas.