# Rockwood Capital Real Estate Partners
Rockwood Capital is a New York-based real estate private equity investment manager that invests equity and credit across multifamily, office, mixed-use, life science, hospitality, and retail properties in North America. Its SEC-registered adviser, Rockwood Capital, LLC, was organized in 2006, with predecessor advisory operations under the Rockwood trade name since 1990; the firm has been majority-owned by Colliers International Group since July 2022 and remains active, having filed its most recent fund vehicle, Rockwood Capital Real Estate Partners Fund XII, L.P., in 2023.
| Key fact | Detail |
| --- | --- |
| What it is | Real estate private equity manager (adviser: Rockwood Capital, LLC, Delaware LLC organized 2006; predecessor since 1990)[1](https://9atuat.azurewebsites.net/Adviser/801-73731) |
| Headquarters | New York, with offices in Los Angeles and San Francisco[2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html) |
| Strategy | Value-add office, apartment, retail, and hotel assets in primary US cities; also credit investments[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf) • [2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html) |
| Fund XII filed | $415.78M sold per Form D, 2023[4](https://www.formds.com/issuers/rockwood-capital-real-estate-partners-fund-xii-l-p) |
| Ownership | Colliers International Group holds 65% (completed July 1, 2022); principals retain 35%[1](https://9atuat.azurewebsites.net/Adviser/801-73731) |
| Scale | Over $36 billion invested with clients since inception for more than 130 institutional investors (company statement)[2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html) |
| Managing Partner | David Becker[2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html) |
## History and people
Rockwood's founders began as real estate advisors to the Rockefellers, the Olayans, and other prominent global investors in the early 1990s[5](https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm). According to a diligence summary prepared for the Nebraska Investment Council, the firm itself was founded in 1995 by partners who shared a background investing high-net-worth family wealth in real estate, initially commingling family-office activity before opening funds to institutional clients[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf). The two datings describe different things: the Colliers press release points to the founders' advisory origins in the early 1990s, while the fund diligence document dates the firm's founding to 1995; the adviser entity in its current legal form was organized in 2006[1](https://9atuat.azurewebsites.net/Adviser/801-73731).
Succession has been managed internally: ownership interests of retiring founders and partners are bought down over time by the company and its current partners, a practice the fund diligence summary describes as ongoing[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf).
The named principals in the public record are David A. Becker, the firm's Managing Partner[2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html); Peter Falco, who signed Fund X's Form D as Managing Member of the general partner[6](https://www.sec.gov/Archives/edgar/data/1647627/000164762716000002/0001647627-16-000002.txt); and Tyson E. Skillings, listed as an executive on the Fund XII filing alongside David I. Becker[4](https://www.formds.com/issuers/rockwood-capital-real-estate-partners-fund-xii-l-p).
## Strategy
Rockwood runs value-add real estate strategies. Its flagship funds acquire value-add office and apartment properties in high-barrier-to-entry urban and evolving near-urban centers of primary US cities, then reposition or redevelop them to raise their net operating income growth potential[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf). The Colliers announcement describes the broader platform as equity and credit investments across multifamily, office, mixed use, life science, hospitality, and retail across North America[5](https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm).
The fund economics are explicit in the Fund XI diligence summary: a closed-end commingled vehicle targeting a 12% to 14% net IRR and a 1.7x equity multiple over a nine-year term, using 55% to 60% leverage[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf).
## Funds by the numbers
Form D filings for the funds documented in the retrieved record show:
| Fund | Amount sold (Form D) | Filing record |
| --- | --- | --- |
| Fund X, L.P. | $610,850,000 | Delaware LP formed 2015; amendment filed July 14, 2016[6](https://www.sec.gov/Archives/edgar/data/1647627/000164762716000002/0001647627-16-000002.txt) |
| Fund XII, L.P. | $415,780,000 | February 7, 2023[4](https://www.formds.com/issuers/rockwood-capital-real-estate-partners-fund-xii-l-p) |
Fund X's Form D lists a minimum outside investment of $6,000,000, and names placement agents including Park Madison Partners and offshore subscribers Threadmark Partners Limited of London and IBK Securities Co., Ltd. of Seoul[6](https://www.sec.gov/Archives/edgar/data/1647627/000164762716000002/0001647627-16-000002.txt).
Fund XI was marketed as a $1.25 billion closed-end commingled fund[3](https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf).
At the adviser level, Rockwood's most recent Form ADV data reports $10,608,321,132 in regulatory assets under management, of which $6,478,157,538 is managed discretionarily, private fund gross asset value of $10,107,821,133, and 65 employees. Its sole advisory clients are its funds, which are Delaware limited partnerships controlled by affiliated general partners[1](https://9atuat.azurewebsites.net/Adviser/801-73731). The company says Rockwood and its principals have invested in over $36 billion of real estate for more than 130 institutional investors through value-add funds, credit funds, and separate accounts[2](https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html).
## Ownership and the Colliers transaction
On May 4, 2022, Colliers International Group announced an agreement to acquire a 65% stake in Rockwood Capital, LLC, then described as a US real estate investment management firm with more than $12 billion of assets under management, with closing expected in the third quarter of 2022[5](https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm). Rockwood's Form ADV states the merger agreement was signed on April 29, 2022 and the transaction completed on July 1, 2022, with the principals retaining a 35% stake[1](https://9atuat.azurewebsites.net/Adviser/801-73731).
The deal was structured as what Colliers called a "perpetual partnership": senior leadership kept the balance of the equity and continued to lead the business[5](https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm). After completion, Rockwood's principals retained day-to-day operational autonomy while Colliers holds rights to override certain corporate decisions[1](https://9atuat.azurewebsites.net/Adviser/801-73731). Colliers expected $70 to $75 million of annual run-rate management fee revenue from Rockwood and described the results as significantly accretive[5](https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm).
## References
1. Rockwood Capital, LLC, Form ADV Brochure (CRD 801-73731): https://9atuat.azurewebsites.net/Adviser/801-73731
2. Colliers to invest in leading US real estate investment firm (GlobeNewswire, May 4, 2022): https://www.globenewswire.com/news-release/2022/05/04/2435565/8534/en/Colliers-to-invest-in-leading-US-real-estate-investment-firm.html
3. Rockwood Capital Real Estate Partners Fund XI, L.P., AON Investment Summary (Nebraska Investment Council): https://nic.nebraska.gov/sites/default/files/doc/9.c.%20%20%20%20%20%20%20Rockwood%20XI%20-%20AON%20Investment%20Summary.pdf
4. Rockwood Capital Real Estate Partners Fund XII, L.P., Form D record: https://www.formds.com/issuers/rockwood-capital-real-estate-partners-fund-xii-l-p
5. Colliers press release (SEC exhibit), May 4, 2022: https://www.sec.gov/Archives/edgar/data/913353/000117184322003168/exh_991.htm
6. SEC Form D, Rockwood Capital Real Estate Partners Fund X, L.P. (amendment, filed 2016-07-14): https://www.sec.gov/Archives/edgar/data/1647627/000164762716000002/0001647627-16-000002.txt
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Private equity and buyout firms of the Americas › Real estate private equity*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license