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Starwood raises record $7.6B for global real estate fund

Private equity and venture capital firm Starwood Capital Group pulled in $7.6 billion for its latest global opportunistic real estate fund, beating its target of as much as $6 billion, PERE News reported.

The amount raised puts Starwood Global Opportunity Fund XI on track to become one of the largest real estate funding closes worldwide in 2018. For the first time in the history of the firm's global opportunistic fund series, Fund XI drew more capital from foreign than domestic investors, according to the news outlet.

Public pension funds, high-net-worth individuals, sovereign wealth funds, insurance companies, banks, endowments and foundations, corporate pension plans and funds of funds made up the investor base for the fund, PERE noted.