Texas-based investment firm Rockland Capital is reportedly hoping to celebrate the New Year by holding a final close for its second North America-focused fund.
AltAssets revealed early last month that the firm had gathered about $240m from 25 LPs towards its $425m goal for Rockland Power Partners II.
But the firm has since pushed that total to about $350m according to Dow Jones, which cited two people familiar with the firm.
The firm has since confirmed through an SEC filing that it has raised $352m from 25 LPs.
That pushes the latest fund above the $333m Rockland gathered for its debut vehicle in 2010.
BerchWood Partners and Harpeth Securities are acting as placement agents for the vehicle, which had set a $2m minimum commitment for outside investors.
Rockland also manages Rockland Capital Energy Investments, a $120m pledge fund.
The first power fund was raised from a broad base of institutional investors including US-based endowments, pension funds, funds of funds and family offices. It is focused on acquiring companies in the North American power sector.
In September Rockland said it was building a 49.9 MW wind facility in Rollag, Minnesota amid plans to sell a majority of its power under a 20‑year contract with the Wisconsin municipal joint action agency Great Lakes Utilities.
Copyright © 2013 AltAssets