Brookfield Asset Management has raised over $4bn (€3.4bn) in the initial closing for its latest global infrastructure debt fund.
The manager said the Brookfield Infrastructure Debt Fund IV’s (BID IV) first close was backed by both existing and new investors.
As previously reported, Maine Public Employees Retirement System, an existing investor in Brookfield’s previous global infrastructure debt fund, approved a $100m commitment to BID IV.
In June, IPE Real Assets also reported that Teachers’ Retirement System of the State of Illinois had placed $200m into BID IV, a fund that targets high-yield debt investments for infrastructure assets and businesses backed by regulated, contracted or concession-based cash flows.
Brookfield closed BID III, its third global infrastructure debt fund, with over $6bn in November 2023, making it the world’s largest private infrastructure debt fund at that time.
Hadley Peer Marshall, co-head of Brookfield’s infrastructure debt and structured solutions businesses, said: “We are grateful for the support of our existing and new institutional partners as we continue to grow our strategy.
“Borrowers are increasingly seeking alternative sources of capital that can provide flexible structures, speed of execution and certainty of funding from knowledgeable lenders – needs that Brookfield is uniquely positioned to meet.”
Ian Simes, co-head of Brookfield’s infrastructure debt and structured solutions businesses, said: “Demand for capital to support infrastructure growth is substantial, creating strong opportunities to partner with leading companies and finance their infrastructure businesses.
“Brookfield has been at the forefront of this market, delivering tailored capital solutions and building a strong global pipeline.”
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