As GlobeSt.com recently reported, Starwood formed a newsubsidiary that will be looking to invest infrastructureimprovements, but a source close to Starwood tellsGlobeSt.com that the two have separate focuses. The subsidiary willinvest and manage investments in public real estate infrastructurebonds, and the Fund targets generation and transmission assets inNorth America.
The Fund has already committed more than $250 million of equityto specific projects exceeding $1 billion in cost. The Fundattracted commitments from various investors, including endowmentsand foundations, pension plans, banks, insurance companies and highnet worth individuals, which the source says is due to acombination of this sector "gaining a great deal of interest," andof Starwood Capital resources standing behind it.
Barry Sternlicht, chairman and CEO of locally based StarwoodCapital, says in a prepared statement that "the Fund is the resultof a focused business strategy that we have been pursuing in theextremely vibrant North American power generation and transmissionsector for several years. Our investors have responded to thestrategy, to the potential to earn very attractive risk adjustedreturns, to our experienced team, and to Starwood Capital's strong16-year investment track record as a firm."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.