Ohio commits $50m to Rockbridge
The $24.6 billion Ohio Bureau of Workers’ Compensation has committed $50 million to Rockbridge Hospitality Fund VI, a value-added fund managed by Rockbridge Capital that invests in both debt and equity in the U.S. hotel sector.
“The sector has very positive economic fundamentals,” says Bruce Dunn, chief investment officer with OhioBWC, when asked what attracted the retirement system to hotel investments. “That, combined with the very low exposure BWC presently has in this sector through its existing core real estate investments, provides added diversification of our growing commingled fund real estate portfolio.”
Rockbridge launched Fund VI in January 2013 with a $350 million fundraising goal and a target close date of May 31, 2014. The fund will invest approximately 75 percent of its capital in equity-related ho