Houston Municipal pension fund commits $20m to real estate

Houston Municipal Employees Pension System committed $20 million to Starwood Global Opportunity Fund XI Global, sponsored by Starwood Capital Group, at its June 16 meeting.

Starwood Capital closed its 10th global opportunistic real estate fund in March 2015, with capital commitments from more than 100 investors globally totaling $5.6 billion — the firm’s largest fund to date. SOF X uses the same approach as its predecessor funds, with a focus on acquiring, developing and repositioning high-quality assets in major real estate asset classes with strong fundamentals.