Ventura County Employees’ Retirement Association (VCERA) has recommended a $40 million follow-on commitment to Brookfield Infrastructure Fund V (BIF V), according to a recent board meeting document.
BIF V will be VCERA’s second dedicated diversified-infrastructure commitment. TVCERA previously committed $50 million to the fund’s predecessor, BIF IV, in October 2019. Fund IV had drawn $41.5 million as of March 31. Like Fund IV, Fund V will be 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.
As it did in BIF IV, Brookfield will invest directly into the fund from its balance sheet in an amount of 25 percent of the fund. It’s highly unusual to see a manager invest such a large percentage into its fu
