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Brookfield holds first close at $8b for fifth flagship opportunistic real estate fund
Fundraising - MAY 10, 2024

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Brookfield holds first close at $8b for fifth flagship opportunistic real estate fund

by Lewis Dayton

Brookfield has held a first close for the fifth vintage of its flagship opportunistic real estate fund, Brookfield Strategic Real Estate Partners V (BSREP V), after raising more than $8 billion of capital, including a $2.2 billion of capital raise in the first quarter, the firm announced in a message to shareholders recapping first quarter 2024.

The fund is targeting to raise a total of $15 billion of capital and will invest in a range of properties and real estate operating companies in North America, Brazil, Europe and Australia.

Investors in the fund include the Pennsylvania Public School Employees’ Retirement System, with a commitment of $300 million; the Minnesota State Board of investment, with a $200 million commitment; and Japan’s Government Pension Investment Fund, with a commitment of $500 million.

Brookfield Strategic Real Estate Partners IV closed in November 2022 after raising $17 billion of capital and had a similar strategy to BSREP V.

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