Starwood Capital Ups Ante in Europe

LONDON-Looking to strengthen its presence in Europe, Starwood Capital has created a new leadership position, head of European operations, and filled it with Roger Barris, who most recently held the same title with DB Real Estate Opportunities Group. Barris will operate out of the firm’s offices in London.Starwood Capital, based in Greenwich, CT, makes real estate-related investments on behalf of public and private retirement programs, university endowments, foundations and high-net-worth investors. The addition of Barris may be a sign that Starwood is ready to launch its next fund, though no formal announcement has been made.GlobeSt.com caught up Barris by phone while he was traveling in Budapest with his family. While he declined to comment on whether a new fund was in the works, he did say that Starwood’s latest fund–the $660-million (equity) Starwood Opportunity Fund VI–is about 80% invested, and that Starwood is looking to increase acquisitions in Europe in order to increase global diversification in the fund. “The ability to move capital between different economic regions is an important facet of that opportunity fund’s operations,” says Barris.Barris joined Deutsche Bank in 1997. Prior to that he was with Goldman Sachs International in London, where he was employed as a director from 1991 to 1997. Prior to Goldman Sachs International, Barris taught finance at several universities in France. Before teaching,he worked in New York City for Goldman, Sachs & Co. (1987-1990), Stern Stewart & Co. (1986-1987) and Exxon Corporation (1984-1986).When he returns from vacation, Barris will join the current Starwood Capital team in London, which includes vice president Lloyd Lee and associate Ben Gareh. Starwood Capital president/CEO Barry S. Sternlicht says Barris will enable the company to “significantly expand upon the international portfolio of assets we have already built in the UK and Western Europe, (as) we believe that these markets will continue to provide excellent diversification and attractive risk-adjusted returns for our investor partners.”