Brookfield Asset Management has closed the largest fund it has ever raised, its $28 billion Brookfield Infrastructure Fund V alongside roughly $2 billion in co-investment vehicles, spokesman John Hamlin said.
The firm's new fund exceeds its $25 billion fundraising target and is 40% larger than its predecessor, Brookfield Infrastructure Fund IV. Fund V has already invested about 40% of its capital in six investments in sectors including renewable energy, transportation, data centers and telecom towers.
The majority of the capital came from existing Brookfield investors, including pension funds, sovereign wealth funds, financial institutions, endowments, foundations and family offices.
Investors in Fund V include the $93 billion Oregon Public Employees Retirement Fund, Tigard; $66.4 billion Illinois Teachers Retirement System, Springfield; $63.3 billion Maryland State Retirement & Pension System, Baltimore; $46.6 billion New Mexico State Investment Council, Santa Fe; $16.7 billion Ohio Police & Fire Pension Fund, Columbus; $13.1 billion Louisiana State Employees' Retirement System, Baton Rouge; $7.4 billion Ventura County (Calif.) Employees' Retirement Association; $4 billion Santa Barbara County (Calif.) Employees' Retirement System; $3.8 billion Seattle City Employees' Retirement System; and $3.1 billion Baltimore City Fire & Police Employees' Retirement System.
