Rockland Capital has raised $288 million for Rockland Power Partners III, according to a filing with the SEC.
Rockland Power Partners III is an infrastructure fund that invests in power utilities throughout North America. The fund, which opened in October 2016, seeks to raise $450 million in total equity commitments.
The fund 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, which owns the 125-megawatt cogeneration plant in Ludington, Mich., from ArcLight Capital Partners.
In more recent transactions, Rockland Capital acquired the Victoria Power Station, a natural gas-fired combined cycle facility in Victoria, Texas, from an affiliate of Arclight Capital Partners. The station is a 290-megawatt plant that sells power into the Electric Reliability Council of Texas market.