(Information sent by the signatory company)
MIAMI, March 20, 2024 /PRNewswire/ — Starwood Capital Group (“Starwood Capital” or “the Firm”), a leading global private investment firm focused on real estate, today announced that a controlled subsidiary has agreed to acquire a 10.7% equity interest in ESR Group (“ESR” or “the company”) in a transaction structured together with ESR co-founders Stuart Gibson and Charles de Portes (“the co-founders”). Gibson will remain joint CEO and executive director of the company and Portes will remain a non-executive director of the company. Under the acquisition, all outstanding sums on the co-founders’ holding company’s existing margin loan facility will be fully extinguished.
ESR Group is the largest real asset manager in APAC. With approximately $156 billion in total assets under management focused on the logistics, data center and new economy alternatives sectors, the company has a fully integrated development and investment management platform spanning key markets in APAC, including Australia, Japan, South Korea, China, Southeast Asia and India.
Barry Sternlicht, Chairman and CEO of Starwood Capital, commented: “ESR is the leading real estate platform in Asia Pacific with significant market positions in logistics and data centres, which are key growth areas for Starwood Capital. I have known Stuart for many years and have always been impressed by the business that he, Charles and co-CEO Jeffrey Shen have built. Having recently partnered with ESR in Australia, we are excited to expand and strengthen our relationship through this transaction. We have full faith and confidence in the management team, and we look forward to working with all stakeholders for the long term.”
Stuart Gibson, Executive Director, Co-Founder and Joint Chief Executive Officer of ESR Group, added: “I have known Barry for almost 20 years and look forward to partnering with Starwood Capital as an investor. We believe Starwood Capital’s support will enable ESR to continue to focus on delivering. our clients, shareholders and capital partners.
Jeffrey Perlman, Non-Executive Chairman of ESR Group, noted: “We are very pleased to welcome Starwood Capital as a shareholder and key partner of ESR Group. Starwood Capital’s scale, global track record in public and private real estate and its access to capital are “It is highly complementary to the company’s strategy. “We believe this is a strong vote of confidence in ESR and its future prospects.”
About Starwood Capital Group
Starwood Capital Group is a private investment firm focused primarily on the global real estate sector. The firm and its subsidiaries maintain 16 offices in seven countries around the world and currently have more than 5,000 employees. Since its inception in 1991, Starwood Capital Group has raised over $75 billion in capital and currently has ~$115 billion in assets under management. Through a series of combined opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-publicly traded REIT, the firm has invested in virtually every real estate category globally, changing opportunistic asset classes, geographies and positions in the capital stack, as it perceives that the risk/reward dynamic is evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed more than $95 billion of capital since its inception and manages a portfolio of more than $27 billion in debt and equity investments. For the past 32 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy involving the creation of companies in both the public and private markets. Additional information can be found at www.starwoodcapital.com.
About ESR Group
ESR is the largest real estate asset manager in APAC driven by the New Economy and the third largest publicly traded real estate investment manager globally. With approximately $150 billion in total assets under management (AUM)1, our fully integrated development and investment management platform extends to key APAC markets including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, accounting for more than 95% of GDP in APAC, and also includes an expanding presence in Europe and the United States. We offer a broad range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, enabling equity partners and clients to capitalize on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with total assets under management of approximately $45 billion. Our purpose – spatial and investment solutions for a sustainable future – drives us to deliver sustainable and impactful management, and we consider the environment and the communities in which we operate as key stakeholders of our business. ESR, listed on the main board of the Hong Kong Stock Exchange, is a component of the FTSE Global Equity Index Series (Large Cap), the Hang Seng Composite Index and the MSCI Hong Kong Index. For more information about ESR, visit www.esr.com
Media contacts
For Starwood Capital GroupTom Johnson, Dan Scorpio o Emma Prenn-Vasilakis, H/Advisors Abernathytom.johnson@h-advisors.global, dan.scorpio@h-advisors.global o emma.prenn-vasilakis@h-advisors.global
For ESR GroupMedia Relations: Kathleen Goh, Senior Director, Group Corporate Affairs (kathleen.goh@esr.com)Investor Relations: Marilyn Tan, Group Director, Investor Relations (marilyn.tan@esr.com)
________________________1 As of December 31, 2023.
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