RockBridge raises $220m for hospitality fund
The fund launched in January 2013 with a $350 million fundraising goal and had a final close scheduled for May 31, 2014, though the SEC filing did not disclose whether this was a final close. The value-added/opportunistic fund will invest approximately 75 percent of its capital in equity-related hotel investments, which it will balance for risk reduction with junior debt investment positions comprising the rest of the fund. These debt/equity splits are for the overall portfolio and not for each hotel investment made, providing space for many investments in the portfolio to be equity only.
Since forming more than 20 years ago, Columbus, Ohio–based RockBridge has made more than 325 debt and equity hotel investments across the United States in transactions totaling more than $5 billion.