Rockland Capital closes second power fund
Rockland Capital has closed its second energy fund, Rockland Power Partners II, on Dec. 6 with $425 million in equity commitments, confirms Scott Harlan, a Rockland Capital managing partner.
The fund has a potential buying power of $850 million with the use of leverage, which it will use to make investments requiring active management in the electric power sector that range from $10 million to $100 million. It will also invest in under-managed assets necessitating commercial or operational turnarounds, and will occasionally pursue financially or operationally distressed assets. Rockland expects to close the fund’s first investment in January 2014. All investments will be in North America.
Rockland Capital began marketing the fund in June 2013 with a $425 million hard cap and required cutbacks in the final closing due to over-subscription. More than half of the fund’s 35 investors were u