Starwood Capital Group closed its opportunistic real estate fund, Starwood Distressed Opportunity Fund XII, at its hard cap of over $10 billion.
The new fund's closing exceeds that of its predecessor, Starwood Global Opportunity Fund XI, which closed at $7.56 billion in 2018, the private investment firm said in an Oct. 15 news release.
In the latest fund, Starwood Capital and its affiliates have thus far closed or committed to 25 transactions in the U.S., Australia, Denmark, England, Ireland, Italy, Japan and Spain, the news release said.
Investors in the latest fund include the $252.8 billion Florida State Board of Administration, Tallahassee; the $193.1 billion Texas Teacher Retirement System, Austin; the $62.9 billion Illinois Teachers' Retirement System, Springfield; the $54.7 billion Illinois Municipal Retirement Fund, Oak Brook; and the $21.1 billion Oklahoma Teachers' Retirement System, Oklahoma City.
Officials at Starwood Capital Group could not be immediately reached for further information.
