Starwood to Start Pitching New Distressed Real Estate Fund
- Company is in preliminary talks with potential investors
- Sternlicht has said firm is eyeing potential distress
Barry Sternlicht
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Starwood Capital Group, the firm led by Barry Sternlicht, is in preliminary talks with potential investors for a new opportunistic real estate fund, according to people with knowledge of the matter.
A new vehicle, which hasn’t formally launched, would follow the company’s Starwood Distressed Opportunity Fund XII, which closed in October 2021 with more than $10 billion in commitments, said the people, who asked to remain anonymous citing private information.