Sternlicht Is Considering Starwood Stake Sale for New Funding
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Barry Sternlicht, chairman and chief executive officer of Starwood Capital Group LLC, said he is exploring the sale of a stake in his property-investment firm to raise cash and finance new businesses.
“It is something that we’re considering,” Sternlicht said in an interview with Bloomberg Television that will air today. “There is only so much capital that we can invest because our funds are long-lived,” he said. Having a partner to contribute capital in future investments and seed new business lines “makes some sense to me.”