Brookfield Asset Management has raised $1bn (€918.5m) for its debut middle-market infrastructure fund.
The asset manager said its affiliated entities contributed $150m to the Brookfield Infrastructure Structured Solutions Fund (BISS), which achieved its fundraising target at close.
BISS, which seeks to invest both structured and common equity, has so far invested in US renewable energy developer Origis Energy and in-building wireless infrastructure platform Strategic Venue Partners.
Ian Simes, managing partner and co-head of Brookfield’s infrastructure debt and structured solutions businesses, said: “We are delighted with the support from our clients for this first-time fundraise, which demonstrates the appetite from investors to access this market opportunity.
“It marks a further expansion of the Brookfield Infrastructure platform into the middle market, providing capital solutions to a wider range of infrastructure investors, including other sponsors.”
Hadley Peer Marshall, managing partner and co-head of Brookfield’s infrastructure debt and structured solutions businesses, said: “Demand for infrastructure investment continues to grow, driven by the key trends of decarbonisation, digitalisation and deglobalisation.
“The Brookfield Infrastructure Structured Solutions Fund blends the attributes of infrastructure debt and infrastructure equity, both of which are areas where Brookfield manages the world’s largest funds. We look forward to growing this new strategy to a similar scale over time.”
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