News & AnalysisStarwood’s Sternlicht on ESR privatization: ‘Our goal here is to clean it up’Starwood Capital's chairman and CEO anticipates the transaction will ‘create very high returns’ for the mega-manager’s Fund XII.ByEvelyn Lee1 September 2025•4 mins readDealsManagersAsia-PacificNorth AmericaOpportunisticSovereign Wealth Fund