The New York State Common Retirement Fund (NYCRF) has invested $500 million in Brookfield Asset Management’s fourth flagship infrastructure fund, according to documents from a May board meeting.
The Brookfield Infrastructure Fund IV is targeting $17 billion to invest in transportation, renewable power, utilities and data infrastructure assets across North America, Europe, South America and Asia Pacific.
The fund would be Brookfield’s largest infrastructure fund. Brookfield Infrastructure Fund III closed in July 2016, raising $14 billion of equity.