The $3.9 billion Kern County (Calif.) Employees’ Retirement Association has committed $50 million to Brookfield Real Estate Finance Fund V, according to Dominic Brown, assistant executive director for the pension fund.
Brookfield Real Estate Finance Fund V, managed by Brookfield Asset Management, is a value-added fund that will invest in debt secured by U.S. properties.
The fund has received commitments from the $6.7 billion San Diego City Employees’ Retirement System and the $109.7 billion New York State Teachers’ Retirement System. Fund V has raised $2.43 billion so far.
The fund’s predecessor, Brookfield Real Estate Finance Fund IV, raised $1.38 billion, coming in above its $850 million fundraising target.
Brookfield’s real estate portfolio consists of multiple asset classes, including office, retail, multifamily, industrial, hospitality, self-storage and student
