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Brookfield Infrastructure Debt Fund III (BID III) is more than double the size of its predecessor, which raised $2.7 billion in 2020, the Canadian asset manager said in a media release.

"With capital commitments exceeding $6 billion, including over $400 million in discretionary co-investment capital, BID III is the world's largest private infrastructure debt fund," claimed the release.

BID III has received significant support from a diverse group of institutional partners, including public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations, and family offices.

Ian Simes, Managing Partner and Co-Head of Brookfield's infrastructure debt and structured solutions businesses said, "With access to the Brookfield ecosystem of real-time data and global expertise, we can identify high-quality businesses operating in defensive areas of the market to generate attractive risk-adjusted returns."

According to the press release, BID III has already deployed over 50% of its commitments, having made investments across its core infrastructure sectors, including the renewable power and data infrastructure sectors.

The Fund is focused on investments that are highly defensive due to the regulated, contracted, and concession-based cash flows they produce and is an alternative source of capital for businesses that require access to trusted, solutions-focused financing, it said.

Hadley Peer Marshall, Managing Partner and Co-Head of Brookfield's infrastructure debt and structured solutions businesses said, "This is a great time to be investing in infrastructure debt. With capital constraints across the market, we are increasingly becoming borrowers' preferred partners and continue to see several interesting opportunities to offer flexible solutions for businesses across the globe."

Brookfield Asset Management has $850 billion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit.