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Brookfield raises $120 million for Brazil timber fund
Toronto-based Brookfield Asset Management has raised approximately $120 million for its Brookfield Brazil Timber Fund II (BBTF II), according to a filing with the Securities and Exchange Commission. The fund has a $200 million fundraising goal. A final close date was not disclosed. Recent fund investors include the Ohio Police & Fire Pension Fund and New Mexico Educational Retirement Board.
Brookfield Brazil Timber Fund II is part of Brookfield Asset Management's Brazil unit, which started its first Brazil operation in 1899. It currently manages more than 294,000 acres of timberland assets in Brazil.
Brookfield Brazil Timber Fund II's predecessor, Brookfield Brazil Timber Fund, raised approximately $280 million in equity commitments. Established in December 2007, Brookfield’s Brazil Timber Fund owns ap