STWD Investment Management provides investment advisory and asset management services to private investment funds investing in collateralized mortgage-backed securities and affordable housing properties. It also serves as collateral manager for collateralized loan obligations secured by commercial real estate and infrastructure finance loans. STWD IM is wholly-owned by Starwood Property Trust, Inc.
Fee Structure
STWD Investment Management manages investments for private investment funds and collateralized loan obligations (CLOs). The fees vary depending on the specific fund or CLO.
For STWD CMBS Venture Holdings, STWD IM receives a general and administrative expense reimbursement based on invested capital. The reimbursement is 0.70% per year of invested capital, calculated monthly.
For Woodstar Feeder Fund, STWD IM receives an administration and management fee of 0.15% per year, paid quarterly.
For certain CLOs (STWD 2021-FL2, STWD 2022-FL3, and STWD 2025-FL4), STWD IM is entitled to receive a collateral manager fee of 0.10% per year of the net outstanding portfolio balance, paid monthly. However, STWD IM has agreed to waive this fee while it or an affiliate is the collateral manager and also an affiliate of STWD.
For other CLOs (STWD 2024-SIF3, Starwood 2024-SIF4, Starwood 2025-SIF5, and Starwood 2025-SIF6), STWD IM is entitled to receive a collateral advisory fee. The base advisory fee is 0.15% per year of the fee basis amount, and the subordinated advisory fee is 0.25% per year of the fee basis amount, both paid monthly. These fees are also waived while STWD IM or an affiliate is the collateral advisor and also an affiliate of STWD.