Brookfield plans next opportunistic real estate fund

Brookfield Asset Management is planning to launch its next opportunistic real estate fund sometime this quarter, according to a letter released to its shareholders.

There was no definite name given to the new fund; however, the firm stated, “We continue to be active with fundraising, capitalizing on the momentum created by our record flagship fund closings last year.”

The firm’s most recent opportunistic real estate fund was Brookfield Strategic Real Estate Partners II, which held a $9 billion final close in April 2016. The fund was seeking to raise $7 billion.

The first fund in the series, Brookfield Strategic Real Estate Partners I, raised $4.4 billion and closed in 2013. The fund series invests in real estate primarily in North America, Europe, Brazil and Australia.

Brookfield has been active in 2017 across its overall business, acquiring more than $1 billion of properti