Rockland Capital is paying $30.5 million to buy bankrupt energy storage company Beacon Power Corp. The deal could help the the U.S. Energy Department to recover 70% of the money loaned to the company under a government funding program, Reuters wrote Wednesday. Beacon Power used the $39.5 million loan guarantee to help fund a $69 [...]
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Ares Capital said Monday that it committed $59 million in a $110 million second lien term loan that supports the refinancing of La Paloma Generating Co. Kern County, Calif.-based La Paloma is a four-unit, 1,022 MW natural gas-fired power facility owned by EIG Global Energy Partners and Rockland Capital.
Rockland Capital of The Woodlands, Texas hired that Terry E. Everett as chief financial officer. She will also serve as chief compliance officer. Everett has worked in private equity industry since 2003, and has worked for both Perseus LLC and The Carlyle Group.
Fundraising Updates: Snow Phipps, Baird, Northern Trust, Thayer Hidden Creek, Rockland, Maranon Mezz
The following seven pieces of fundraising news have been culled from recent SEC filings:
Thayer Hidden Creek, a Washington, DC, and Minneapolis-based lower middle market private equity firm, is raising its second fund. Thayer Hidden Creek Partners II, L.P. has a target of $350 million. The fund has raised $84.8 million from 10 investors to date. Berchwood Partners is listed as a placement agent to the fund.
Baird Capital Partners is raising its fifth buyout fund. The fund was formed in 2008, and its target is listed as $376.2 million. The firm has closed on $130 million as of February 8. Thomas Capital Group, Inc. and Robert W. Baird & Co. itself have been listed as placement agents to the fund.
Rockland Capital is raising a fund called Rockland Power Partners LP. The vehicle was formed in 2008 and has collected $100.4 million in commitments from 19 investors as of February 9. The fund has a $500 million target. Berchwood Partners is serving as the firm’s placement agent. Rockland, based in Houston and New York, was formed in 2003 to acquire and develop selected investment opportunities in the North American and European power and energy infrastructure markets.
Rockland Capital, an energy-focused PE firm with offices in New York and Houston, recently held a $94.5 million first close on its debut institutional fund, according to LBO Wire. The fund is being marketed with a $350 million target and a $500 million cap. www.rocklandcapital.com
EQT Infrastructure Fund and Fortistar have agreed to buy Midland Cogeneration Venture from Rockland Capital and GSO Capital Partners. No financial terms were disclosed for the deal, which is expected to close within the next two months. MCV is a 1,500 MW natural gas-fired cogeneration facility located in Midland, Michigan. It was acquired by Rockland and GSO in 2006.
EQT Infrastructure and FortiStar have agreed to acquire MCV, a Midland, Mich.-based gas-fired cogeneration plant, from GSO Capital Partners, Rockland Capital Energy and The Dow Chemical Company. No pricing terms for the leveraged acquisition were disclosed.