Maine Public Employees Retirement System (PERS) has approved a $100m (€94.6m) commitment to Brookfield Asset Management’s latest infrastructure debt fund.
The pension fund disclosed in a meeting document that it has made the capital commitment to Brookfield Infrastructure Debt Fund (BID) IV.
The capital raising target for Debt Fund IV fund is currently unknown. Brookfield’s BID III, the predecessor fund, closed with over $6bn in capital commitments in November 2023.
Brookfield, which made a $400m co-investment commitment to BID III, is expected to be a co-investor in the latest fund.
The BID IV will focus on renewable energy transactions primarily in the US and Europe, providing mezzanine debt for core assets.
As of June 2024, Maine PERS’s infrastructure portfolio had a total value of $5.4bn. The portfolio has generated an interim net return of 11%.
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