Brookfield Asset Management closed Brookfield Infrastructure Fund III at $14 billion, exceeding its $10 billion fundraising target.
The total includes $4 billion from the general partner, a Brookfield news release said.
The global infrastructure fund will invest in “high-quality, core infrastructure assets on a value basis,” according to the news release.
Already more than $3 billion has been committed to portfolio companies, including U.S. hydroelectric facilities, Brazilian electricity transmission projects, a Colombian power generation company and Peruvian toll roads.
Investors in Brookfield Infrastructure Fund III include the $68 billion Oregon Investment Council, Tigard; $178.1 billion New York State Common Retirement Fund, Albany; $128.2 billion Texas Teacher Retirement System, Austin; and $12.3 billion Maine Public Employees Retirement System, Augusta.
A spokeswoman could not immediately be reached for additional information.
It is the largest private fund raise by Brookfield and the largest private infrastructure fund raised in the industry to date, the release said.