Rockbridge introduced it is going to take a well-known path with its eighth ’s flagship fund – pursuing hospitality-focused actual property investments within the US.
This week, it accomplished the ultimate closing of its most up-to-date value-add flagship fund, Rockbridge Hospitality Fund VIII L.P., having raised $431 million of investor commitments, surpassing its goal of $425 million.
Fund VIII was backed by each long-standing traders and choose new traders, together with pension funds, foundations, endowments, insurance coverage firms, asset managers, and personal capital from household workplaces and excessive web value traders, based on a launch.
The fund has already made investments in 29 accommodations, committing almost $300 million of fund capital in each opportunistic debt and fairness investments.
The fund additionally maintains an energetic pipeline with a number of further investments in closing or underneath management.
Rockbridge expects to deploy Fund VIII’s remaining capital within the subsequent 12 months after which be again available in the market with its subsequent flagship fund.
Jim Merkel, CEO, Rockbridge, stated in ready remarks, “We’re happy with the portfolio now we have constructed thus far and anticipate the disruption available in the market to proceed to provide much more alternatives for us.”
