Greenwich, Connecticut-headquartered private investment firm Starwood Capital Group has closed its Starwood Distressed Opportunity Fund IX (SOF IX), which has reached its cap of $4.2bn.
The fund, which was supported by 75 LPs worldwide, has already committed $2bn across 20 deals in Europe and the US over the past months.
SOF XI has interests in several bank loan pools, distressed debt, office and retail space and more than 150 hotels.
The new fund follows the $2.8bn Starwood Global Opportunity Fund VIII, which has now been fully invested.
Starwood Capital Group chairman and CEO Barry Sternlicht said, “We are grateful for our investors’ continued support and confidence in our team, which have been instrumental to our success since our founding in 1991.
“We have now grown to manage more than $23 billion in assets on behalf of clients across our six main product lines.
“Today we employ over 250 talented people directly, in nearly every expertise in real estate to better support investors in ten offices around the world.”
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