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Brookfield closes $14b global infrastructure fund

by Andrea Waitrovich

Brookfield Asset Management has announced the final close on Brookfield Infrastructure Fund III, raising $14 billion of equity commitments.

The global infrastructure fund invests in high-quality, core infrastructure assets on a value basis. 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.

To date, BIF III has committed to invest more than $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. 

BIF III marks the largest private fund raised by Brookfield.  In the past 18 months, Brookfield has raised approximately $27 billion across its flagship private fund strategies, including the close of its flagship real estate fund, Brookfield Strategic Real Estate Partners II at $9 billion, and its flagship private equity fund, Brookfield Capital Partners IV at $4 billion. All three funds surpassed their fundraising targets.

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