Brookfield Infrastructure Fund V (BIF V), managed by Brookfield, has added two Asian life insurance companies to its investor base.
IREI understands BIF V secured a $100 million commitment from China Life Insurance Co. and a $40 million commitment from Cathay Life Insurance Co.
Fund V will be diversified by geography and across the transportation, renewable-power, utilities, energy and data-infrastructure sectors. Deal sizes are expected to range from $400 million to $1 billion.
Brookfield will invest directly into the fund from its balance sheet in an amount of 25 percent of the fund. It’s highly unusual to see a manager invest such a large percentage into its fund. This sizable investment demonstrates a significant and direct alignment of interest in the fund’s success with the other fund investors.
Brookfield expects BIF V to be oversubscribed, with the fund’s final close likely to exceed its target of $25 billion.
Neither China Life nor C