Brookfield Asset Management closed its latest flagship global private equity fund, Brookfield Capital Partners VI, with $12 billion, its largest-ever private equity fund, which includes a $3.5 billion commitment from the firm, a spokeswoman said.
Brookfield's latest buyout fund was just shy of its $12.5 billion fundraising target. The fund will invest in business services and industrial companies, as well as late-stage industrial technology and healthcare businesses.
Brookfield's private equity business manages about $140 billion of assets. The fund has already committed $4 billion to six businesses.
Investors in the fund include the $85.7 billion Minnesota State Board of Investment, St. Paul; the $41 billion South Carolina Retirement Systems, Columbia; and the $13.3 billion Louisiana State Employees' Retirement System, Baton Rouge.