The New York State Teachers Retirement System (NYSTRS) has committed $150 million to Starwood Capital alongside a $1.5 billion recommendation of its 2026 real estate pacing plan, according to meeting materials from Oct. 30.
Starwood Distressed Opportunity Fund XIII is a closed-end, opportunistic fund that aims to raise $10 billion. The fund utilizes a global strategy, with an expected geographic allocation of 45 percent to 55 percent for the United States, 35 percent to 45 percent for Europe and 5 percent to 15 percent for Asia Pacific, with distressed opportunities comprising 30 percent to 50 percent of the fund. Recent commitments to this fund include $15 million from the Tampa Employees Retirement Fund and $300 million from the Teacher Retirement System of Texas.
