Global real estate investment manager Rockpoint Group has raised $5.8bn for two of its US funds.
The manager said its Rockpoint Real Estate Fund VI, the sixth opportunistic fund which had a $3bn fundraising target has raised $3.8bn, and the lower-risk Rockpoint Growth and Income Real Estate Fund III (RGI III) fund raised $2.0bn.
Rockpoint said investors in Fund VI and RGI III include a diverse group of public and corporate pension funds, sovereign wealth funds, endowments, foundations, and other sophisticated investors spanning the US, Asia, Canada, Europe, Latin America and the Middle East.
Fund VI invests primarily in US office, apartments and hotels. The RGI III fund will target a mixture of US office buildings and apartment.
Co-founders Bill Walton and Keith Gelb said: “In the wake of the challenges our economy has faced in recent months, we believe there will be significant opportunities across both Fund VI and RGI III, and we are excited to pursue what we expect will be attractive real estate investments in our target US markets.”
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