Rockpoint Group collected more than $2.8 billion for its fifth real estate fund, blowing past its $2.5 billion target, according to a person familiar with the fund.
Rockpoint Real Estate Fund V, which launched in Dec. 2014, is still fundraising, the person said. It’s not clear if the fund has a cap.
An SEC filing Wednesday showed the fund collected more than $1.64 billion.
Rockpoint’s previous real estate fund raised $2.33 billion in 2012, generating an average IRR of 30.06 percent and an average multiple of 1.29x, as of June 30, 2015, reports data provider Bison.
And, in 2007, Rockpoint raised $2.5 billion for its third real estate fund, generating an average IRR of 15.09 percent and an average multiple of 1.39x, as of March 31, 2015, also according to Bison.
Photo of stacks of coins with house figures on top of them courtesy of Shutterstock.