Investors β†’ Starwood Capital
SW
Fund

Starwood Capital

Investment Fund
Country πŸ‡ΊπŸ‡Έ United States
Strategy Opportunistic
AUM $115B AUM
Asset Class Multi-Asset
01 β€” Overview

About the Fund

Starwood Capital Group is a leading global private investment firm founded by Barry Sternlicht in 1991. With over $115 billion in assets under management, Starwood specializes in opportunistic real estate across hotels, residential, office, retail and industrial assets globally.

Sternlicht is famous for acquiring ITT Sheraton in 1997 and building Starwood Hotels & Resorts β€” creating the W Hotels brand before selling the hospitality business to Marriott for $13.6 billion in 2016. Starwood Capital remains a pure real estate investment firm, distinct from the hotel operating company.
02 β€” Capital Model

How It Create Wealth

🏨

Hospitality Expertise

Deep understanding of hotel operations, brands and cycles gives Starwood edge in lodging investments.

🏨

Hospitality Expertise

Deep understanding of hotel operations, brands and cycles gives Starwood edge in lodging investments.

🎯

Opportunistic Approach

Targets dislocated assets across all property types β€” no style box constraints.

🎯

Opportunistic Approach

Targets dislocated assets across all property types β€” no style box constraints.

🌍

Global Mandate

Invests across North America, Europe, Latin America and Asia.

🌍

Global Mandate

Invests across North America, Europe, Latin America and Asia.

πŸ’‘

Brand Creation

Built the W Hotels brand from scratch β€” demonstrating value creation beyond asset management.

πŸ’‘

Brand Creation

Built the W Hotels brand from scratch β€” demonstrating value creation beyond asset management.

πŸ“Š

REIT Vehicles

Uses public REIT structures (STWD, SWAY) for specific strategies alongside private funds.

πŸ“Š

REIT Vehicles

Uses public REIT structures (STWD, SWAY) for specific strategies alongside private funds.

πŸ”„

Credit + Equity

Operates both debt (STWD) and equity platforms, capturing the full capital stack.

πŸ”„

Credit + Equity

Operates both debt (STWD) and equity platforms, capturing the full capital stack.

03 β€” Portfolio

Key Holdings & Platforms

Company / Asset Country Asset Class Est. Value Ownership
Starwood Property Trust (STWD) United States Real Estate Debt $25B+ Sponsor
Starwood Property Trust (STWD) United States Real Estate Debt $25B+ Sponsor
Starwood Hotels (sold) Global Hospitality $13.6B exit Former Owner
Starwood Hotels (sold) Global Hospitality $13.6B exit Former Owner
W Hotels (sold with Starwood) Global Hospitality Included in above Former Creator
W Hotels (sold with Starwood) Global Hospitality Included in above Former Creator
Residential / Multifamily Funds United States Residential $20B+ Fund Manager
Residential / Multifamily Funds United States Residential $20B+ Fund Manager
04 β€” Signature Deals

Timeline of Major Moves

1991
Founds Starwood Capital
Barry Sternlicht launches the firm with $20M in capital focused on distressed real estate.
1991
Founds Starwood Capital
Barry Sternlicht launches the firm with $20M in capital focused on distressed real estate.
1997
Acquires ITT Sheraton for $14.6B
Hostile takeover of one of the world's largest hotel companies.
1997
Acquires ITT Sheraton for $14.6B
Hostile takeover of one of the world's largest hotel companies.
1998
Creates W Hotels brand
Launches the W brand β€” a boutique lifestyle hotel concept that becomes globally influential.
1998
Creates W Hotels brand
Launches the W brand β€” a boutique lifestyle hotel concept that becomes globally influential.
2016
Sells Starwood Hotels to Marriott
$13.6B exit β€” one of the largest hospitality transactions ever.
2016
Sells Starwood Hotels to Marriott
$13.6B exit β€” one of the largest hospitality transactions ever.
2020
COVID hospitality distress plays
Deploys capital into distressed hotel assets during the pandemic at deeply discounted prices.
2020
COVID hospitality distress plays
Deploys capital into distressed hotel assets during the pandemic at deeply discounted prices.
05 β€” Playbook

The Starwood Capital Playbook

What he buys
Dislocated assets across all sectors β€” no single style. Opportunistic across the capital stack.
What he buys
Dislocated assets across all sectors β€” no single style. Opportunistic across the capital stack.
Hospitality edge
Understanding hotel operations gives Starwood an information edge in lodging investments others cannot replicate.
Hospitality edge
Understanding hotel operations gives Starwood an information edge in lodging investments others cannot replicate.
Brand as value
Building W Hotels showed that brand creation is a real estate value-add strategy.
Brand as value
Building W Hotels showed that brand creation is a real estate value-add strategy.
Credit + equity
Operating STWD (mortgage REIT) alongside equity funds captures returns across the full capital structure.
Credit + equity
Operating STWD (mortgage REIT) alongside equity funds captures returns across the full capital structure.
What to learn
Sector flexibility + deep operational knowledge = ability to outperform across full real estate cycles.
What to learn
Sector flexibility + deep operational knowledge = ability to outperform across full real estate cycles.