Baku, June 12, AZERTAC

President of the Republic of Azerbaijan Ilham Aliyev has received Barry Sternlicht, Founder and CEO of Starwood Capital Group, one of the world`s leading alternative investment firms.

Noting the ongoing development processes in all areas in Azerbaijan and the successes achieved in a short period of time, Barry Sternlicht said that the country plays a great role in the region. He underlined that the long-term and solid cooperation with the State Oil Fund of the Republic of Azerbaijan is of great importance for his company, and they are interested in deepening this cooperation in the future.

President Ilham Aliyev hailed the close relations of the State Oil Fund of the Republic of Azerbaijan, which cooperates with the world`s largest and leading financial institutions, with Starwood Capital Group, and stressed the importance of continuing efforts to strengthen the partnership even further. President Ilham Aliyev labelled as positive an increase of the assets of the State Oil Fund of Azerbaijan amid the period of volatile financial markets.

The existence of favorable investment climate in Azerbaijan was highlighted at the meeting. They also shared their views on and underlined good opportunities for lucrative investment to make in the energy sector including alternative energy, logistics, tourism spheres.

Starwood Capital Group, one of the world’s leading alternative investment firms, was founded in 1991. Assets under firm’s management are approximately $120 billion with a core focus on management of global real estate, energy infrastructure and loans. Headquartered in the US, Starwood Capital has invested in more than 35 countries. The company employs approximately over 5,000 people in its offices worldwide.