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Starwood Capital Sets $6 Billion Target for Its New Global Fund

  • Pool would be biggest yet for real estate investment manager
  • Riskier strategies are dominating private property fundraising

Starwood Capital Group LLC is seeking $6 billion from investors for its latest global opportunistic property pool.

The new fund, Starwood Global Opportunity Fund XI LP, would be the firm’s biggest yet. It will be invested primarily in North America and Europe, Starwood Capital Chief Financial Officer Jerome Silvey said in comments recorded on June 30 at the Public Employees Retirement Association of New Mexico’s investment-committee meeting. The fund could invest more in Europe than its predecessors because the U.K.’s vote to leave the European Union is likely to cause some market dislocation and produce investment opportunities, he said.