Starwood Capital has reportedly raised just over half of its $4bn target for its latest fund just a month after registering the vehicle with the US securities regulator.
The firm stated its sizable target for the Starwood Opportunity Fund (SOF) X in a document filed with the SEC in June.
At the point it did not reveal any commitments, although the Illinois Municipal Retirement Fund had earlier agreed to commit up to $50m to the fund.
Now it is just over the halfway point having raised $2.1bn according to PERE.
The firm closed its ninth distressed opportunity real estate fund in April 2013, with $4.2 billion of total capital commitments from more than 100 investors.
The primary investment themes for the fund are centered on distressed debt, value-add income assets (inflation hedge), corporate transactions and land/development opportunities with an increased focus on Europe.
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