Rockland Capital, a private equity firm focused on control investments in critical power generation assets, announced the closing of Rockland Power Partners V, LP at its hard cap of US$1.2 billion. 

Rockland attracted backing from a broad mix of major institutional investors — including pensions, endowments, foundations, insurers, healthcare organizations, consultants, family offices, and asset managers. The fund will focus mainly on acquiring and improving existing power-generation facilities, enhancing their efficiency, responsiveness, and overall capacity to better support the changing demands of the energy market. A smaller share of the capital may go toward building new power plants specifically tailored to the fast-expanding data-center industry, where quick delivery and dependable performance are critical.

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