The $64.5 billion Maryland State Retirement and Pension System (SRPS) has invested $300 million in Brookfield Infrastructure Fund V (BIF V), a spokesperson for the pension fund confirmed in an email.
BIF V is a noncore vehicle focused on investment opportunities in the Americas, Western Europe and Asia. BIF V is diversified by geography and across the transportation, renewable-power, utilities, energy and data-infrastructure sectors. Deal sizes are expected to range from $400 million to $1 billion.
Brookfield will invest directly into the fund from its balance sheet in the amount of 25 percent of the fund. This investment demonstrates a significant, direct alignment of interest in the fund’s success with the other fund investors. Brookfield expects BIF V to be oversubscribed, with the fund’s final close likely to exceed its target of $25 billion.
Michael Golden, director of external affairs at Maryland SRPS, said this was the pension fund’s first time comm