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Starwood Surpasses Equity Goal with $6B Fund Raise

Greenwich, CT-based Starwood Capital Group closed on $5.6 billion out of an upper target of $6 billion for Starwood Opportunity Fund XI Global, according to a SEC filing. Starwood has reportedly secured more than $6 billion of approved commitments for the fund.

The vehicle was launched in 2016 and targeted raising between $5 billion and $6 billion. The private alternative investment firm received $2.7 billion last October in an initial closing, and subsequently attracted an additional $681 million by the close of 2016, and collected $3.38 billion as of February.

The fund is expected to hold a final close by early 2018, in what already is Starwood’s largest to date. Investment commitments have included the California State Teachers’ Retirement System ($300 million), the Teachers’ Retirement System of the State of Illinois ($300 million), the Teacher Retirement System of Texas ($200 million) and South Dakota Investment Council ($150 million).

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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