HOUSTON, TX – January 6, 2011 — Rockland Capital, LLC (“Rockland”), a private equity firm focused on the acquisition and optimization of companies in the North American power sector, today announced that it has successfully closed the firm’s debut institutional fund, Rockland Power Partners, LP (“RPP”), with $333.1 million in commitments in December 2010.
The fund attracted commitments from a broad base of institutional investors, including U.S. endowments and foundations, funds of funds, pension plans and family offices.
“We are very pleased with the response from the investor community for the fund despite a challenging environment,” said Scott Harlan, Managing Partner of Rockland Capital. “The two most significant things that allowed us to raise capital in this market were the experienced team and the firm’s business plan. Our strategy of focusing on projects requiring some form of operational, contractual, and/or financial restructuring was appealing to investors given the current economic climate.”
RPP has already completed its first investment by purchasing a managing interest in La Paloma, a 1,022MW natural gas powered plant near Bakersfield, CA.
Berchwood Partners acted as global placement agent and Bingham McCutchen served as legal advisor for the fund.
About Rockland Capital
Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners and Rockland Capital Energy Investments and has offices in Houston and New York.