Brookfield Asset Management closed Brookfield Infrastructure Fund IV at $20 billion, exceeding its $17 billion fundraising target.
The total includes $5 billion from the general partner, a Brookfield news release said Friday.
The prior fund, Brookfield Infrastructure Fund III, closed at $14 billion in 2016, exceeding its $10 billion fundraising target.
Thus far, Fund IV has invested about $8 billion "to a diversified set of attractive infrastructure businesses, including the largest short-haul rail operator in North America, natural gas pipelines in North America, data infrastructure businesses in South America, New Zealand, India and the U.K., and a global portfolio of renewable power assets," the news release said.
Investors in Fund IV include the:
- $215.4 billion New York State Common Retirement Fund, Albany.
- $157.6 billion Texas Teacher Retirement System, Austin.
- Oregon Investment Council, Tigard, which oversees the investments of the $81 billion Oregon Public Employees' Retirement System, Salem.
- $26 billion New Mexico State Investment Council, Santa Fe.
- $11.4 billion Louisiana State Employees' Retirement System, Baton Rouge.
- $10.7 billion Chicago Public School Teachers' Pension & Retirement Fund.
- $10.2 billion Sacramento County (Calif.) Employees' Retirement System.
- $6.1 billion Ventura County (Calif.) Employees' Retirement Association.
- $3 billion Seattle City Employees' Retirement System.