Brookfield's first infrastructure debt fund exceeds target
Brookfield Asset Management has exceeded its fundraising target by 26% at the final close of its first infrastructure debt fund.
Brookfield Infrastructure Debt Fund (BID) received $885m (€736.4m) equity commitments compared with the $700m target.
BID is the asset manager’s first investment vehicle focused on infrastructure debt, targeting mezzanine debt investments in high-quality core infrastructure assets primarily in North America, as well as in South America, Australia, and Europe.
Brookfield said investors in the fund are a diverse group of institutional investors, including public pension plans and financial institutions.
Sam Pollock, a senior managing partner and head of Brookfield’s Infrastructure Group said: “We are grateful for the strong support we have received from our investors, whose contributions demonstrate that demand for infrastructure debt investing continues to grow.
“We are pleased to leverage our extensive infrastructure and credit expertise into high quality infrastructure debt investments that offer attractive, risk-adjusted returns.”
To date, the BID has made a number of investments, creating a diversified portfolio of core infrastructure debt assets in the transportation, renewable power, and energy sectors, representing aggregate mezzanine lending commitments of around $200m.