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Laxman Pai, Opalesque Asia: Toronto-based alternative asset management company Brookfield Asset Management closed its latest flagship private-equity fund, Brookfield Capital Partners V (BCP V), at $9 billion, exceeding its $7 billion fundraising target.
BCP V's previous flagship fund, Brookfield Capital Partners IV, closed in 2016 at $4 billion, said a press release from the company with around $330 billion of assets under management.
Brookfield in early August revealed it had collected just over $8.3 billion for the fund, according to a Securities and Exchange Commission filing.
Investors in the Fund are a diverse group of institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations, family offices, and private wealth investors.
$216.2 billion New York State Common Retirement Fund, Albany; New Jersey Division of Investment, which manages investments for the $76 billion New Jersey Pension Fund, Trenton; $101.1 billion Minnesota State Board of Investment, St. Paul; and $32 billion South Carolina Retirement System Investment Commission, Columbia are among those institutional investors.
Brookfield Business Partners, a publicly traded private equity fund committed $3 billion to the new fund.
Cyrus Madon, head of Brookfield's private equity business, said "We have already deployed capital into a number of high-quality businesses and look forward to continuing to prudently in...................... To view our full article Click here
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