Brookfield Asset Management beats target for latest infrastructure fund


infrastructure4_lrgCanadian investment firm Brookfield Asset Management has held a final close of $7bn for its latest infrastructure fund, beating its initial target by $2bn.

Brookfield Infrastructure Fund II has received commitments from various institutional investors including sovereign wealth funds, insurers, and public and private pension plans. Earlier this month AltAssets reported that the fund had raised $6.575bn from 79 LP.

Brookfield said it committed $2.8bn to the vehicle via its Infrastructure Partners and Brookfield Renewable Energy Partners funds.

Half of the 60 LPs that have committed to the fund are new investors.

The fund follows the $2.7bn Brookfield Americas Infrastructure Fund, which closed in 2010.

CEO of Brookfield’s Infrastructure Group Sam Pollock said, “We are pleased to launch this fund at a time when we see strong opportunities to invest in high quality core infrastructure assets on an attractive risk-adjusted return basis.

“We believe real assets such as infrastructure are an important and growing component of institutional portfolios, and we see significant potential for investments in all the regions where we operate.”

Copyright © 2012 AltAssets