Rounding out 2023
A total of 21 new investment funds were launched during fourth quarter 2023, up from third quarter 2023, which marked the lowest number of fund launches since first quarter 2023. The new investment funds are seeking to raise an aggregate of approximately $27.8 billion.
Starwood Capital Group’s Starwood Distressed Opportunity Fund XIII, an opportunistic closed-end fund launched in late October 2023, is seeking to raise approximately $10 billion. Fund XIII will have a global strategy, with an expected geographic allocation of 45–55 percent to the United States, 35–45 percent to Europe and 5–15 percent to Asia Pacific. Distressed opportunities will make up 30–50 percent of the fund.
The second-largest fund to launch in fourth quarter 2023 was Bridge Investment Group’s Bridge Debt Strategies Fund V. The closed-end fund, which launched in late October 2023, is seeking to raise approximately $2.5 billion and has a diversified, three-pronged strategy focused on or