Brookfield Asset Management closed its Brookfield Infrastructure Debt Fund III at over $6 billion, which the firm said is the world's largest private infrastructure debt fund.
Capital commitments include more than $400 million in discretionary co-investment capital, Brookfield said in a Nov. 2 news release. The firm also committed $600 million to the fund, which it said underscores its alignment of interests with other investors.
Over 50% of commitments have already been deployed, with investments across renewable power and data infrastructure and other sectors.
"This is a great time to be investing in infrastructure debt," said Hadley Peer Marshall, managing partner and co-head of Brookfield's infrastructure debt and structured solutions businesses, in the release. "With capital constraints across the market, we are increasingly becoming borrowers' preferred partner and continue to see a number of interesting opportunities to offer flexible solutions for businesses across the globe."
Investors include Maine Public Employees Retirement System, Augusta, and Sacramento County (Calif.) Employees' Retirement System.
The predecessor fund, Brookfield Infrastructure Debt Fund II, closed in December 2020 at $2.7 billion.
Brookfield Asset Management has $850 billion in assets under management across renewable power and transition, infrastructure, private equity, real estate and credit.