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Laxman Pai, Opalesque Asia: The Canadian investment giant Brookfield Asset Management said it raised US$20 billion for a massive new fund dedicated to infrastructure, exceeding its $17 billion target and the $14 billion it raised for its previous infrastructure fund, which closed in July 2016.
The Toronto-based company with over $540 billion of assets under management says it put $5-billion into the Brookfield Infrastructure Fund IV (BIF IV) itself, and raised the remainder from 170 institutional investors, including pension plans, sovereign wealth funds, insurance companies, and other investors.
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; and $11.4 billion Louisiana State Employees' Retirement System, Baton Rouge among others.
Approximately 75% of the third-party capital came from existing Brookfield investors, highlighting Brookfield's focus on building long-term relationships with its limited partners.
Brookfield's commitment will be funded through Brookfield Infrastructure Partners and Brookfield Renewable Partners.
Sam Pollock, Head of Brookfield's Infrastructure Group, said: "The strong level of support we have received from investors reflects ...................... To view our full article Click here
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