Starwood holds first close for 10th global fund

Starwood Capital Group held a first close for its Starwood Global Opportunity Fund X, raising approximately $2 billion in June. The fund launched this year, with a $4.5 billion equity target. A second close is expected in the next two months.

The opportunistic fund has started to invest some of its capital. Fund X invests in a wide variety of property types in the United States and Europe, with as much as half of its investment activity focused on Europe.

Recent investors include Teachers’ Retirement System of the State of Illinois, Illinois Municipal Retirement Fund, South Dakota Investment Council,