Brookfield Asset Management has held the final close on Brookfield Infrastructure Fund II with equity commitments totalling USD7bn.
The fund will invest in infrastructure, with a focus on transportation, renewable power, utilities, and energy assets in North and South America, Europe and Australasia.
Commitments to the fund exceeded the original USD5bn fundraising target. Investors in the fund include a diverse group of institutional investors, including sovereign wealth funds, insurers, and public and private pension plans. The fund has over 60 investors, half of which are first time investors in a Brookfield fund. Brookfield committed USD2.8bn to the fund.
"We are pleased to launch this fund at a time when we see strong opportunities to invest in high quality core infrastructure assets on an attractive risk-adjusted return basis," says Sam Pollock, senior managing partner and chief executive officer of Brookfield's infrastructure group. "We believe real assets such as infrastructure are an important and growing component of institutional portfolios, and we see significant potential for investments in all the regions where we operate."