Rockland collects $352m for Fund II

The firm is nearing its $425m target for investments in the power and energy sectors.

Texas-based energy investor Rockland Capital has raised $352 million for its Rockland Power Partners II fund, according to documents filed with the US Securities and Exchange Commission.

Fund II has a $425 million target and has received commitments from 25 investors, according to the filing. 

Rockland acquires and develops power and energy assets in North America and Europe. The firm’s first institutional fund held a final close on $333 million in December 2010 and completed its first investment that year, acquiring an interest in a natural gas power facility in California. 

Rockland was unavailable for comment at press time.

Prior to raising its first fund, Rockland operated a $120 million “pledge fund”, meaning it invested on a deal-by-deal basis. All six investors that participated in the firm’s pledge fund committed to Rockland’s debut closed-ended vehicle, which altogether had roughly 30 limited partners.

Rockland Capital was founded in 2003 in Houston, Texas and has an office in New York.