About This Fund
Rockland Power Partners II, LP (RPP II) is the second institutional fund raised by Rockland Capital, a Houston-based private investment firm focused on the acquisition, development, and optimization of power generation assets in North America. Founded in 2003, Rockland Capital applies deep operational expertise and active hands-on management to under-managed or inefficiently operated North American power assets, seeking to unlock value through operational improvements, capital deployment, and strategic asset repositioning. RPP II closed in December 2013 at its hard cap of $425 million, raising commitments from 34 institutional investors — including endowments, foundations, corporate and public pension funds, insurance companies, and family offices — in less than six months from the June 2013 launch.
The fund's strategy centers on dispatchable, natural gas-fired generation assets in competitive North American power markets. RPP II's inaugural investment was the acquisition of three natural gas combined-cycle and peaking plants in Illinois from Ameren Corporation. The fund leverages Rockland's operational and commercial capabilities to drive returns through active management of power plant economics, including optimization of fuel procurement, power sales contracts, and ancillary services revenues in deregulated power markets.
RPP II follows the firm's first fund (RPP I) and continues the strategy of targeting dispatchable power assets in competitive wholesale electricity markets. With a fund size of $425 million and a 2013 vintage, RPP II is in an advanced divestiture stage consistent with the typical ten-year lifecycle of a private infrastructure fund. Rockland Capital has since grown to manage multiple fund generations, including Rockland Power Partners III ($454M, 2016) and Rockland Power Partners IV ($700M, 2022), cumulatively deploying over $2.4 billion across more than 30 realized transactions since inception.