Close of Brookfield’s $14B global infrastructure fund brings total funds to $27B
The close of Brookfield Asset Management Inc.’s $14 billion global infrastructure fund – Brookfield Infrastructure Fund III (BIF III) – brings its total funds raised over the last 18 months to $27 billion across its flagship fund series.
This fund marks Brookfield’s largest private fund raised and its largest private infrastructure fund ever raised in the industry.
Total capital commitments of BIF III exceed the original $10 billion fundraising target, reflecting a robust investment pipeline and strong investor demand for the asset class. BIF III’s predecessor fund closed in 2013 with $7 billion of total capital commitments.
Investors in the fund include a diverse group of over 120 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations and family offices. Brookfield committed $4 billion to the fund, ensuring alignment of interests with other fund investors. Brookfield’s commitment will be funded through Brookfield Infrastructure Partners L.P. and Brookfield Renewable Partners L.P.
“We are grateful for the strong support we received from our investors. This fundraise demonstrates that demand for infrastructure investing is growing as investors continue to increase their allocations to real assets. We are excited about the opportunities we are seeing for investments,” says Sam Pollock, head of Brookfield’s infrastructure business.
To date, the fund has committed to invest over $3 billion in assets consistent with the Fund’s investment strategy, including a portfolio of U.S. hydroelectric facilities, a portfolio of Brazilian electricity transmission projects, a leading Colombian power generation company, a portfolio of Peruvian toll roads and a U.S. water infrastructure project developer.