RockBridge raises $220m for hospitality fund
Hospitality specialist RockBridge has raised $219.9 million for RockBridge Hospitality Fund VI, according to a filing with the SEC.
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.