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.
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