US-headquartered private equity firm, Starwood Capital Group has shut its fund management business in India recently.
Starwood Capital India Advisors downsized its staff strength over the last few months, prior to winding up of the Indian arm completely. sources in the know said.
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Sundaram Rajagopal, managing director, India and south East Asia at Starwood Capital Group, has already joined investment management firm Ada Investments as senior partner and chief executive officer of Ada Real Estate.
Starwood Capital has also invested in Sriram Properties, the Chennai-based real estate company and part of Shriram Group.
Starwood has become the latest global PE firm which has exited India.
On the whole, Starwood Capital Group manages assets of more than US$23 billion.
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