Rockbridge raises $398m for sixth hospitality fund
Rockbridge has raised $398.32 million for its RockBridge Hospitality Fund VI, according to a filing with the SEC. The value-added/opportunistic vehicle aims to raise $450 million.
RockBridge Hospitality Fund VI will follow a similar strategy to previous funds in the series and make debt and equity investments in U.S. hotels. The fund will capitalize on the multiple distress points in the hospitality market caused by the economic downturn and the lack of credit and massive deleveraging in the industry.
Fund VI is a follow-up to RockBridge’s Fund V, which raised $225 million in 2011. The fund has a total capitalization of $512 million. Its assets are located in Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Maryland, Michigan,