Starwood Property Trust, a newly formed REIT managed by private equity firm Starwood Capital that plans to opportunistically invest in commercial mortgage loans and real estate debt, raised $810 million, 62% more than originally planned, in its IPO on Tuesday. The company had originally planned to offer 25 million shares at $20 each and upped the deal size to 33.75 million shares Tuesday morning in response to strong demand, before eventually pricing 40.5 million shares. Thanks to the increased deal size, the IPO will be the US's largest so far this year, beating out Mead Johnson (MJN; $720 million) and last week's Avago Technologies (AVGO; $648 million). The stock is expected to begin trading on the NYSE under the ticker "STWD" on Wednesday. BofA Merrill Lynch, Deutsche Bank and Citi were the underwriters on the deal.
