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Starwood Energy Group Capital
Starwood Energy Group Capital was founded in 2005 as an energy-focused affiliate of Starwood Capital Group, the real estate investment giant led by Barry...
Starwood Energy Group Capital
Starwood Energy Group Capital was founded in 2005 as an energy-focused affiliate of Starwood Capital Group, the real estate investment giant led by Barry Sternlicht. The firm was initially established to pursue infrastructure and energy opportunities separate from the parent company's real estate mandate, with Himanshu Saxena taking the CEO role in the years following the founding. The firm invests across the North American energy landscape, targeting power generation, natural gas infrastructure, and renewables including solar and energy storage. Portfolio transactions include the acquisition of the 1,300 MW Powhatan natural gas plant in Virginia (2016) and the development of the 100 MW Moapa Southern Paiute solar project in Nevada. The firm employs a control-oriented strategy, often taking majority stakes in assets where it can influence operations and capital structure. Headquartered in Greenwich with a team of over 30 professionals, Starwood Energy has raised multiple investment vehicles, including dedicated infrastructure funds and co-investment mandates. April 2024: The firm closed an oversubscribed $1.2B fund focused on North American energy infrastructure (per Infrastructure Investor, April 2024). The firm primarily targets projects valued between $50M and $500M, with a geographic focus on the United States and select Canadian opportunities. Starwood Energy's structural differentiator is its affiliation with Starwood Capital Group. This relationship provides access to a broad institutional LP base and a shared operating platform, while maintaining a distinct investment mandate. The firm's governance separates investment decisions from those of the parent, allowing it to act independently on energy and infrastructure deals.
General information
Firm type
Infrastructure & Energy
Year founded
2005
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Greenwich
Corporate office
Greenwich, CT, United States
Principals
Barry Z. Sternlicht
Chairman
Himanshu Saxena
CEO
Jeffrey K. Ball
Managing Director and Head of Infrastructure
Sector focus
Frequently asked questions
Who runs investment decisions at Starwood Energy Group Capital?
Himanshu Saxena serves as CEO and oversees investment strategy. Jeffrey K. Ball is Managing Director and Head of Infrastructure, leading deal execution. Chairman Barry Sternlicht provides strategic oversight but does not manage day-to-day investments. The investment committee is comprised of senior partners from within the firm (per firm communications).
Is Starwood Energy structured as a single-family office or a fund manager?
Starwood Energy operates as an institutional asset manager within the Starwood Capital Group ecosystem. It raises capital from institutional investors — including pensions, endowments and family offices — through closed-end funds and co-investment vehicles. It is not a family office, though it shares a parent brand with a firm that manages wealth for the Sternlicht family.
What investment stages does Starwood Energy typically target?
The firm focuses on the operational and development-stage continuum of energy infrastructure. It targets assets valued between $50M and $500M, acquiring both existing power plants and greenfield development projects. The firm generally takes majority or control positions and seeks to improve asset operations or complete construction before exit (per public deal disclosures).
Which sectors does Starwood Energy explicitly avoid?
Starwood Energy does not invest in upstream oil and gas exploration or production. Its publicly announced portfolio focuses on the midstream and generation segments of natural gas, plus renewable power (solar, energy storage) and contracted power infrastructure. The firm also avoids assets that require merchant exposure exceeding its internal risk limits (per the firm's investor materials).
How does Starwood Energy source proprietary deal flow?
The firm sources deals through its relationships with developers, utilities, and power plant owners in North America. Starwood Energy's affiliation with Starwood Capital Group provides access to a broad network of operating partners and co-investors. The firm also participates in competitive auctions for utility-scale assets and RFP processes for contracted renewable projects (per Infrastructure Investor).
Does Starwood Energy participate in fund commitments or only direct deals?
Starwood Energy invests primarily through direct equity positions in individual assets or portfolios. It does not appear to allocate capital to external fund managers. The firm structures its investments through its own funds — including the recently raised $1.2B infrastructure vehicle — and co-invests with select institutional partners alongside those funds (per Infrastructure Investor, April 2024).
How is Starwood Energy Group Capital related to Starwood Capital Group?
Starwood Energy Group is an affiliate of Starwood Capital Group, the real estate investment firm founded by Barry Sternlicht. The energy firm operates as a separately managed investment platform with its own CEO, investment committee, and infrastructure-focused mandate. Sternlicht serves as Chairman but does not manage the energy business day-to-day. Both firms share the Starwood brand and certain back-office services.
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