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Starwood Capital Closes Combined $2.8B in Funds

GREENWICH, CT-The Starwood Global Opportunity Fund VII and Starwood Capital Global Hospitality Fund II closed at $1.8 billion and $965 million, respectively.

By Ryan Clark | Updated on April 02, 2010

GREENWICH, CT-Starwood Capital Group is closing two of its newest funds with a combined $2.8 billion. The Starwood Global Opportunity Fund VIII closed at $1.8 billion and Starwood Capital Global Hospitality Fund II closed at $965 million. Starwood notes that in its 19-year history, the company has never raised a fund as large as the Global Opportunity Fund VIII.

“Our conservative investment discipline led us to dramatically decrease our investment pace between 2005 and 2008 as the markets became overheated,” explains Starwood Capital Group’s chairman and CEO, Barry Sternlicht, in a release. “In 2009, however, we returned to the markets aggressively and have since invested nearly $1.5 billion of total equity capital across all of our investment vehicles.”

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