Brookfield Asset Management announced Wednesday the final close of Brookfield Capital Partners IV at $4 billion, hitting its hard cap and exceeding its $3.5 billion fundraising target.
The $4 billion in committed capital includes $1 billion from the general partner, said spokeswoman Suzanne Fleming in an e-mail.
Like its predecessor funds, Brookfield Capital Partners IV will focus on opportunities in business services and the industrial sector, targeting regions where Brookfield already operates, including the U.S., Canada, Brazil, Europe and Australia, Ms. Fleming wrote.
The fund has already invested about $1.5 billion total in portfolio companies, including Global Integrated Solutions, an integrated facilities management company; GrafTech International, a global graphite electrode manufacturer; and Apache Energy, former Australian offshore oil and gas producer.
Investors in Brookfield Capital Partners IV include the $80 billion Minnesota State Board of Investment, St. Paul; New Jersey Division of Investment, Trenton, on behalf of the $70.9 billion New Jersey Pension Fund; $9.9 billion Louisiana State Employees’ Retirement System, Baton Rouge; and the South Carolina Retirement System Investment Commission on behalf of the $29.1 billion South Carolina Retirement Systems.
Predecessor fund Brookfield Capital Partners III closed at $1 billion in 2012.