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Thursday, 10 January 2019

Rockpoint Starts Raising $3.25Bln for Latest Value-Add Fund

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Commercial Real Estate Direct Staff Report

Rockpoint Group has started raising what could be $3.25 billion for its latest investment fund.

The fund, Rockpoint Real Estate Fund VI, is being raised just 2.5 years after it finished raising $3.3 billion for its predecessor, Fund V. That vehicle initially had a $2.5 billion target.

The Boston investment manager, led by co-founders Keith Gelb and Bill Walton, generally follows an opportunistic and value-add strategy with its funds. However, in 2015, it raised $1 billion of commitments for a lower-risk, core-plus investment vehicle, Rockpoint Growth and Income Fund I, and in 2016 followed that up with Growth and Income II, which had a $2 billion equity target.

The latest core-plus vehicle was shooting to provide its investors with a 7 percent preferred return. Fund VI, being among the investment manager's value-add series, aims to provide more generous returns.

For instance, the Minnesota State Board of Investment, which committed $100 million of equity to Fund...

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Institutional Investment (INS), Opportunity Funds (OPPY)
  • Private: Yes
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Dan Moynihan

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