Rockpoint Raises $5.1 Billion in Latest Fundraising Cycle
Closes Most Recent Flagship Fund at $2.7 Billion; Raises Additional $2.4 Billion in Commitments
BOSTON, January 17, 2024 – Rockpoint, a Boston-based real estate private equity firm, today announced it has raised $5.1 billion in aggregate equity capital commitments in the current fundraising cycle. The total raise includes the close of Rockpoint Real Estate Fund VII (“the Fund”) with $2.7 billion in total equity capital, as well as an additional $2.4 billion in commitments that include two single investor funds and one single-asset continuation vehicle. Together, this funding represents a diverse base of leading corporate and public pension funds, sovereign wealth funds, endowments, and family offices from Asia, Canada, Europe, Latin America, the Middle East, and the United States.
The Rockpoint team has been investing together since 1994—a 30-year track record that includes investing across multiple cycles and 19 funds and related co-investment vehicles representing a combined gross asset value of approximately $80 billion. Fund VII expands on Rockpoint’s long- established flagship opportunistic series, leveraging the firm’s extensive local market knowledge and vertically integrated platform to create and enhance value at the asset level.
“We are grateful for the strong support from both existing and new investors,” said Bill Walton, Managing Member at Rockpoint. “As we continue to thoughtfully grow our platform and invest in assets where our longstanding relationships, local market expertise, and vertically integrated capabilities can add substantial value, we are well positioned to capitalize on what we believe will be compelling opportunities during this period of dislocation across the real estate sector.”
“We are excited to expand on our successful track record of investing through cycles and to continue to deliver strong returns for our investors,” said Keith Gelb, Managing Member at Rockpoint. “With a management team that has been working together and with relationships throughout the industry for nearly three decades, alongside a deep and growing pool of talent, our organization has never been stronger.”
The Fund will target opportunities in the U.S. across a range of real estate asset classes, including industrial, multifamily, single-family rental, and hospitality, as well as select office investments.
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm’s co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have raised approximately $30 billion in equity capital commitments. As of September 30, 2023, Rockpoint’s investment team with others has invested or committed to invest in 503 transactions with a total peak capitalization of approximately $80 billion (inclusive of fund equity, co-investor equity and debt). To learn more, visit www.rockpoint.com.
Jon Keehner / Sarah Salky / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher