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Laxman Pai, Opalesque Asia: Brookfield Asset Management closed its inaugural Brookfield Infrastructure Structured Solutions Fund (BISS) at $1bn, hitting its fundraising target.
BISS Funds focused on deploying Brookfield's capabilities as an owner and operator of global infrastructure assets to partner with sponsors, developers, and corporates in the mid-market, said a press release from the global alternative asset manager.
The strategy seeks to invest both structured and common equity, added the firm headquartered in New York with over $1 trillion of assets under management. BISS's strategy targets sectors where Brookfield has established operations and significant asset expertise, drawing on the platform's direct investment capabilities to source transactions and access differentiated opportunities.
Initial investments in the Fund include Strategic Venue Partners, an in-building wireless infrastructure platform, and Origis Energy, a U.S. renewable energy developer.
Ian Simes, Managing Partner and Co-Head of Brookfield's infrastructure debt and structured solutions businesses said: "We are delighted with the support from our clients for this first-time fundraise, which demonstrates the appetite from investors to access this market opportunity. It marks a further expansion of the Brookfield Infrastructure platform into the middle market, providing capital solutions to a wider range of infrastructure investors, including other sponsors."
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