Rockbridge announced the final closing of Rockbridge Hospitality Fund VI with $438 million of committed capital. Due to demand from investors, the company exceeded its original fund target of $350 million.
“We are very pleased with the positive response from both existing and new institutional investors. Our focus and execution on delivering consistently-high absolute returns for our investors has resonated with the institutional and alternative investment communities,” said Jim Merkel, Rockbridge president & CEO.
Fund VI represents a capital base that includes pension funds, insurance companies, endowments/foundations, family offices and international investors.
Fund VI will make investments in hotels in the United States and has already closed on 11 investments, representing $131 million of capital commitments and $515 million of total capitalization, in eight states to date.
Triton Pacific Capital served as the exclusive placement agent for Rockbridge Fund VI and Morrison and Foerster acted as legal counsel.