Private equity real estate fund Rockpoint Group has closed on USD950 million of equity commitments for Core Plus Fund I, its first lower-risk, lower-return core plus investment vehicle.
Rockpoint has historically sponsored opportunistic funds, having raised over USD8 billion of equity capital for these funds since 2003, including its most recent opportunistic fund, Rockpoint Real Estate Fund IV, which closed in March 2013 and aggregated USD2.33 billion in investor commitments.
Core Plus Fund I was not formally marketed and was raised from a small group of primarily existing investors. No brokerage commissions or placement fees were paid in connection with the fund.
Rockpoint expects that Core Plus Fund I will be complementary to its opportunity funds and will leverage Rockpoint’s sourcing and asset management expertise to target lower-risk, lower-return investments in the US.
The firm's founding managing members are Bill Walton and Keith Gelb and its additional managing members are Pat Fox, Tom Gilbane and Aric Shalev. The firm’s head of capital raising and investor relations is Hank Midgley.
