February 14, 2024 – Rockland Capital has secured approximately $700 million for Rockland Power Partners IV, far exceeding its target of $500 million and 50% larger than its prior fund. This is Rockland’s largest-ever fund focused on energy infrastructure supporting the energy transition.
The Fund held the Final Close in January 2024, with RPP IV attracting commitments from long-standing existing and more than 20 new institutional LPs, including pensions, endowments, foundations, insurance, asset managers, consultants, family offices and healthcare institutions.
Rockland’s specialized strategy focuses on power generation assets critical to the energy transition, principally dispatchable generating assets. These investments are increasingly integral to grid reliability and stability, as the energy transition unfolds with more renewable power and new electrification demands of the grid. The Fund has already committed capital across six investments, which have been further supported with over $110 million of co-investment from the investor base.
Scott Harlan, Co-Managing Partner at Rockland Capital, said: “Continual investment is needed to enable the transition to renewable power and the shutdown of coal-fired generation, which is integral to the decarbonization of the economy. With the help of our investors, RPP IV will continue to support the energy transition. We would like to thank our investment partners for the trust they have placed in us.”
Jim Maiz, Co-Managing Partner at Rockland Capital, said: “This is a fantastic achievement, particularly given the uncertain macroeconomic environment. We have continued to strengthen and broaden our relationships with new and existing clients by facilitating the energy transition and meeting our partners’ investment objectives. We look forward to building upon this platform.”
Calpa Partners served as the global placement agent and advisor on the fundraise.
Rockland has raised $2.4 billion for investments in the U.S. and U.K. power sectors since 2003 and completed more than 30 realized transactions. Rockland is committed to acquiring and developing selected investment opportunities in power and energy infrastructure markets. Rockland professionals have deep and focused electric power industry experience, which enables the firm to take a hands-on, operational focus to managing assets.