Rockpoint Growth and Income Fund III hits $2b fundraising target

Rockpoint Growth and Income III (RGI III), a core-plus, value-add fund managed by Boston-based Rockpoint Group, has hit the $2 billion mark, completing its fundraising process.

Launched in 2018, RGI III is the largest fund in the series and will focus on office and multifamily assets in major coastal markets in the United States. The fund had a target size of $2 billion.

Over the past month, the fund added the last bit of capital needed to push it to its target. As of April 17, the fund had raised just more than $1.8 billion from 23 investors, including Rockpoint fund co-investors.

The investor base also included the New York State Teachers’ Retirement System (NYSTRS), which backed the fund with a $50 million commitment in April 2019.

The final closing of RGI III follows on the heels of another significant capital raise by Rockpoint Group. As of January, Roc