Rockpoint Group has closed Core Plus Fund I on $950 million for a lower-risk, lower-return core plus investment vehicle. Rockpoint has historically sponsored opportunistic funds, including its most recent Rockpoint Real Estate Fund IV, which closed in March 2013 on $2.3 billion. Core Plus Fund I was not marketed and was raised from a small group of primarily existing investors.
Rockpoint Group, L.L.C., a real estate private equity firm, announced today that it has closed on $950 million of equity commitments (including co-investment 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 $8 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 $2.33 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 United States. Rockpoint expects to focus on high-quality assets in top tier markets, utilizing its fundamental value investment approach.
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.
Rockpoint Group, L.L.C. is a real estate private equity firm headquartered in Boston, with additional primary offices in Dallas and San Francisco. Rockpoint is led by Founding Managing Members Bill Walton and Keith Gelb, who have been working and investing together for almost 20 years. Rockpoint’s additional Managing Members include Pat Fox, Tom Gilbane and Aric Shalev. Since its formation in 2003, Rockpoint has raised over $9 billion of equity capital for five opportunity funds, three related co-investment vehicles, a structured finance vehicle and Core Plus Fund I, and has invested or committed to invest approximately $6 billion of equity in nearly 200 transactions with a total capitalization of approximately $27 billion. Rockpoint employs a fundamental value approach to investing in both its opportunistic and lower-risk strategies and focuses on select product types and geographic regions, with a primary emphasis on opportunities in major coastal markets in the United States.