Starwood Capital Raises $10 Billion for Latest Real Estate Fund

Starwood Capital Group said on Friday it had raised $10 billion for its latest real estate fund, bringing the U.S. investment firm's total assets under management to over $95 billion. The fundraise for Starwood Distressed Opportunity Fund XII exceeded the $7.6 billion it had raised for a similar fund in 2018, the company said. The Miami, Florida-based firm has already closed or committed to 25 deals requiring over $3.5 billion of equity, it said. Besides the United States, these investments were made in firms in Australia, England, Denmark, Ireland, Italy, Japan and Spain, the company said. The fund was also involved in a transaction that took Extended Stay America private in June. The hotel operator was acquired by Starwood and Blackstone Group Inc in a deal valued at $6 billion.