Rockwood Capital raises $1.1bn for US value-add property fund

Rockwood Capital has closed its tenth fund at $1.1bn (€1bn).

The Rockwood Capital Real Estate Partners Fund X was backed by public and private pension funds, foundations, endowments, insurance companies, funds of funds, family offices and high net worth individuals.

More than 60% of investors in the fund, which has a US value-add approach, have invested in previous Rockwood-sponsored funds.

The fund will target US office, residential, retail and hotel assets in urban and suburban core mixed-use environments.

Tyson Skillings, managing partner and portfolio manager of Fund X, said the vehicle would focus on “speed-to-income, or how quickly value creation can be executed and a durable income stream put in place”.

The fund is around 30% committed, having completed nine investments.

“Fund X has consummated nine investments to date we believe will deliver compelling, risk-adjusted returns as we execute our value-enhancing business plans,” he said.

Park Madison Partners served as placement agent in North America.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Now