Rockland Capital (“Rockland”), a private equity firm focused on control investments in critical power generation assets, announced the closing of Rockland Power Partners V, LP (together with its related vehicles, the “Fund”) at its hard cap of $1.2 billion. The Fund was raised in less than eight months, representing more than a 70% increase in size from the predecessor fund.

Rockland secured commitments from a diverse group of leading institutional investors, comprised of endowments, foundations, corporate and public pensions, healthcare systems, insurance companies, consultants, family offices, and asset managers.

Led by a cohesive team with extensive experience across the power industry, Rockland focuses on power generation assets that are under-managed, option-rich, and capable of providing critical reliability services to a grid under strain from both supply and demand challenges.

The Fund will primarily invest in existing operating power plants, adapting and repurposing assets to add flexibility, speed, reliability, and capacity to address the pressures from an evolving energy landscape. A smaller portion of the Fund may be allocated to the development and construction of new power plants designed to meet the data center sector’s growing need for rapid deployment and high reliability.

"We are grateful for the overwhelming support from our longstanding investors and are excited to welcome new partners to Fund V. The speed of this raise reflects the critical role of dispatchable power generation in maintaining grid reliability during the energy transition, in combination with our historical success investing in these types of assets. Our team is eager to deploy this capital into assets that will support grid stability while delivering strong returns," said Scott Harlan, Co-Managing Partner.

"This fund positions us to continue acquiring and optimizing power generation assets at a pivotal moment for the sector," added Jim Maiz, Co-Managing Partner. "With accelerating demand from data centers and manufacturing reshoring, coupled with continuing renewable integration, we see compelling opportunities to create value while providing essential reliability services to the grid."

Probitas Partners acted as the exclusive placement advisor for the Fund, and Willkie Farr & Gallagher LLP acted as fund counsel.

About Rockland Capital

Rockland, based in The Woodlands, TX, is a private equity firm focused on control investments in critical power generation assets, including power plants and power companies in the United States and the United Kingdom. Founded in 2003, the Rockland team benefits from deep and focused electric power industry experience, enabling the firm to take a hands-on, operational focus to managing assets. Targeted investments are generally undermanaged, undervalued, distressed, or in a later stage of development and, as a result, often require significant commercial or operational optimization and restructuring. For additional information, please visit www.rocklandcapital.com.

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