Confirming earlier reports, Starwood Capital Group said it is exploring a stake sale to fund future investments.
“It is something we are considering,” Barry Sternlicht, Starwood Capital Group CEO and chairman, told Bloomberg. “There is only so much capital we can invest because our funds are long-lived.”
Starwood Capital Group, Greenwich, Connecticut, has about US$19 billion in assets. Sternlicht told Bloomberg that Starwood Capital is investing in distressed debt in Europe and U.S. residential property.
However, Sternlicht did not say whether he was considering taking Starwood Capital public.