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Starwood Capital closes $10.2B opportunistic distressed real estate fund
The Starwood Distressed Opportunity Fund XIII has already closed or committed to 20 transactions worth more than $3 billion in equity deployed since launch.
Starwood Capital Group has completed the final closing of Starwood Distressed Opportunity Fund XIII, securing more than $10.2 billion in capital commitments from over 300 new and existing investors across approximately 20 countries, according to ConnectCRE.
The fund will focus primarily on the U.S. and Europe, with selective exposure to Asia Pacific, targeting residential, data center, industrial, and hospitality assets. ConnectCRE said the vehicle has already closed or committed to 20 transactions, representing more than $3 billion in equity deployed since launch.
Starwood Capital and related parties committed $100 million to the fund alongside outside investors. ConnectCRE also noted that the firm’s total assets under management are approximately $130 billion across all investment vehicles.
Jonathan Pollack, president of Starwood Capital Group, said the firm is seeing tailwinds from slowing supply in traditional real estate asset classes and growth tied to technology and manufacturing. ConnectCRE added that Starwood Capital also manages Starwood Property Trust, which has deployed more than $117 billion of capital since inception and oversees a portfolio of more than $31 billion across debt and equity investments.