DECEMBER 5, 2012

Rockpoint Fund IV raises $1.2 billion

by Andrea Waitrovich

Rockpoint Real Estate Fund IV (RREF IV), an opportunistic fund managed by real estate private equity firm Rockpoint Group, has raised approximately $1.2 billion in equity commitments, according to a filing with the Securities and Exchange Commission. The fund was launched in 2011 and aims to raise approximately $2 billion. A final close date was not disclosed.

The vehicle targets an amount similar to that of its predecessor, Rockpoint Real Estate Fund III, which closed on $2.5 billion in July 2007 and has acquired 55 investments located in the United States, Europe and Japan, according to the Rockpoint Groupwebsite.

RREF IV focuses largely on U.S. distressed assets but also has the ability to invest in Europe and Asia. It will focus 80 percent of investments on the United States — particularly Boston, Northern and Southern California, and Washington, D.C. — and 20 percent internationally. For international investments, Rockpoint will target opportunities in major coastal markets in Japan and Western Europe.

Investors in RREF IV include Texas County & District Retirement System, which approved a $50 million commitment; New Mexico State Investment Council, which committed $50 million; New York State Teachers’ Retirement System, which agreed to allocate $55 million; Oregon Investment Council, which committed $100 million; the Employees Retirement System of Texas, which invested $110 million; and North Carolina Retirement Systems, which committed $100 million.


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