Brookfield raises $1b for latest core fund

Brookfield Asset Management has raised and deployed $1 billion for its latest core real estate fund, Brookfield Premier Real Estate Partners, in the last year, according to its second-quarter earnings report released Thursday.

Brookfield Premier Real Estate Partners, which opened in 2016, is a core-plus real estate fund that primarily invests in gateway cities throughout North America.

In addition, Brookfield’s real estate financial fund has raised $2 billion in the last year, according to the report. Brookfield is also receiving equity for its latest opportunistic vehicle, Brookfield Strategic Real Estate Partners III, which seeks to raise $10 billion in total equity commitments. Brookfield expects to hold a first close for the fund later this year.

Brookfield Asset Management is a leading global alternative asset manager with more than $250 billion in assets under management. The company owns and operates assets with a focus on real estate, renewable power