According to the American press, Starwood Capital is looking to sell a minority stake in the company. Owners of Starwood Property Trust, Starwood Real Estate Securities and Starwood Energy Group Global, Starwood's assets amount to around US$19 billion.
Connecticut-based Starwood Capital Group is thought to be considering selling a minority stake, though the exact percentage is unknown. Morgan Stanley is said to have been hired to look for a buyer, who would be given a share of the real estate investment company’s management fees and carried interest. The sale would enable the company's founder, Barry Sternlicht, to cash out some of his holdings in the firm.Starwood would in this way join other private investment firms that have sold stakes to cash out founders or set a value for the company before going public, including Carlyle Group which sold stakes to Abu Dhabi’s Mubadala Development before going public earlier this year and Blackstone which sold a minority nonvoting stake to China Investment Corp. Starwood Capital’s portfolio includes over 2,100 hotels as well as office and retail space.
