Rockland Capital markets third power fund
Rockland Capital has a third energy infrastructure fund in the market with a $450 million equity fundraising target, according to a filing with the SEC.
Rockland Power Partners III follows its predecessor, Rockland Power Partners II, which closed in 2013 with $425 million in commitments from 34 institutional investors.
In October 2015, Rockland Power Partners II, through its subsidiary Wolverine Power Group, acquired Michigan Power LP, which owns the 125-megawatt cogeneration plant in Ludington, Mich., from ArcLight Capital Partners. And a recent transaction was the acquisition of Victoria Power Station, a natural gas-fired combined cycle facility in Victoria, Texas, from an affiliate of Arclight Capital Partners. Victoria Power Station is a 290-megawatt plant that sells power into the Electric Reliability Council of Texas market. The plant, a repowering of a mothballed oil plant, commenced commercial operation in 2009.
Rockland Capital is a private equity firm focused on the acquisition and optimization of companies in the North American power sector.