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Report: Rockpoint targets more than $2B for latest real estate fund

Rockpoint Group is launching its third lower-risk real estate fund with a more than $2 billion target, PERE News reported.

The vehicle, Rockpoint Growth and Income Fund III, already has drawn substantial investor interest and is anticipated to raise more than $1 billion at its first closing in the summer.

Rockpoint, through the new fund, reportedly is expected to target stabilized assets in major U.S. coastal markets with strong cash flows and less capital-intensive business plans than its opportunistic fund investments.

The Boston-based private equity real estate firm, which also has offices in Dallas and San Francisco, did not comment on the fundraising plans, according to PERE.