Former Starwood MD branches out on his own

A 16-year veteran of Starwood Capital Group has left the firm to form his own real estate investment company. Marc Perrin, a former managing director at Starwood, has left the Greenwich, Connecticut-based firm to form The Roxborough Group, a San Francisco-based real estate investment company specializing in opportunistic investments across the US.

In an email sent to colleagues and PERE, Perrin wrote: “I am very excited to announce the formation of The Roxborough Group, a real estate investment firm that will continue my disciplined investment approach to find opportunities in varied asset classes through the highs and lows of the cycles.” He added in the email that he “will continue to represent Starwood as a member of the board of directors of TRI Pointe Homes” and is discussing with senior members of the firm how to continue working together “on smaller investment transactions or targeted opportunities.” 

Although Perrin declined to comment beyond what was stated in the email, sources familiar with the matter told PERE that Roxborough will specialize in smaller-scale opportunistic investments, focusing on mid-market opportunities. The firm will look to invest in properties directly or through joint ventures and has no plans to raise a commingled fund. 

Hitting the ground running, Roxborough already is looking at potential investment opportunities, although sources declined to disclose specifics. The firm also is amidst hiring staff for its San Francisco office. 

Perrin decided to leave Starwood and start his own venture upon the closing of the Barry Sternlicht-led firm’s latest global opportunity fund, Starwood Distressed Opportunity Fund IX, so as to not be committing another four to five years to the firm to invest on behalf of the fund. 

Separately, Perrin’s departure from Starwood follows the recent news that the firm’s European chief operating officer and head of asset management Desmond Taljaard also left the company to start his own firm, Mildmay Capital. Sources said the two departures are unconnected.