Brookfield Asset Management secured nearly $500m (€478.5m) in commitments during the last three months of 2024 for its fifth global flagship real estate fund, the asset manager revealed during its fourth quarter results.
The Brookfield Real Estate Partners V fund, which has a target size of $15bn, is expected to hold a final closing in the first half of 2025.
Partners V will invest across various regions and will target diverse property types such as office, industrial, retail, multifamily and specialised assets like medical office and life science.
Brookfield said it also raised $2.5bn for its infrastructure strategies during the period, marking its strongest quarter in over two years. This included $700m each for the Brookfield Super Core Infrastructure Fund and its private wealth infrastructure fund, and $500m for its infrastructure solutions fund.
The manager said it also raised an additional $3.5bn for Brookfield Global Transition Fund II, its second global energy transition fund.
IPE Real Assets reported a year ago that the second global energy transition fund, which targets investments in clean energy and decarbonisation, had raised an initial $10bn (€9.3bn) and was expected to surpass the $15bn raised for the first fund.
Brookfield expects a final close in the first half of 2025 for the fund, which is targeting a $17bn capital raise.
The fund has already been seeded with assets, including investments in a UK renewables developer and an Indian solar development partnership.
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