Fundraising - MAY 13, 2013

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Brookfield’s Brazilian timber fund exceeds fundraising goal

by Andrea Waitrovich

Toronto-based Brookfield Asset Management has raised approximately $270 million for its Brookfield Brazil Timber Fund II (BBTF II), according to a filing with the Securities and Exchange Commission. The fund had a $200 million fundraising goal.

BBTF 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 Brazil Timber Fund owns approximately 235,000 acres of freehold timberlan

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