Private equity firm Rockland Capital announced Monday that it has successfully wrapped fundraising for its fifth fund, securing $1.2 billion in investor commitments, marking a milestone in its growth trajectory. Legal counsel for Rockland was provided by Willkie Farr & Gallagher LLP.
Fund Raises Record Capital in Under Eight Months
The fund, Rockland Power Partners V LP, reached its hard cap in less than eight months and is over 70% larger than its predecessor, highlighting strong investor confidence in the firm’s strategy and market positioning.
Based in The Woodlands, Texas, Rockland focuses on majority investments in power assets, targeting underperforming generation assets that can provide reliability services to an electric grid increasingly strained by demand fluctuations and supply challenges.
Strategic Vision Amid Energy Transition
Jim Maiz, co-managing partner at Rockland, said, “This fund positions us to continue acquiring and optimizing power generation assets at a pivotal moment for the sector. With accelerating demand from data centers and manufacturing reshoring, coupled with continuing renewable integration, we see compelling opportunities to create value while providing essential reliability services to the grid.”
The fund will predominantly be deployed in operating power plants, aiming to repurpose assets for enhanced speed, reliability, and capacity, while a smaller portion may finance the development and construction of new plants to serve the booming data center sector.
