Starwood Gets Approval for Dubai Office, Weighs Gulf Investments

Starwood Capital Group LLC has been granted approval to operate from the Dubai International Financial Centre, the latest alternative asset manager to ramp up its presence in the booming region.

Starwood Capital (DIFC) Limited was authorized on October 17, according to a document seen by Bloomberg News. The firm is in the process of hiring personnel in the region and could consider deploying capital there, a person with knowledge of the plan said, asking not to be identified discussing internal deliberations.