Brookfield Asset Management is hoping to raise $17bn (€14.1bn) for what would be its largest-ever global opportunistic real estate fund, according to sources.
The capital-raising target for Brookfield Strategic Real Estate Partners (BSREP) IV is above the $15bn raised by the predecessor BSREP III fund in January 2019. At the time, BSREP III was Brookfield’s largest-ever real estate fund.
Brookfield did not respond to a request for comment.
It is understood that the new fund will be able to invest in a range of property assets and real estate operating companies in North America, Brazil, Europe and Australia.
The South Dakota Investment Council, which oversees a number of institutional investors, including the South Dakota Retirement System, was to approve a commitment to BSREP IV during last week’s board meeting. The decision will not be disclosed until its next board meeting on 3 June.
A previous version of this article misstated the amount being raised for the Brookfield Strategic Real Estate Partners IV fund in the first paragraph. The error also appeared in the headline.
To read the digital edition of the latest IPE Real Assets magazine click here.