Oregon Public Employees Retirement Fund (PERF) is investing $500m (€467.4m) via Brookfield’s fifth global infrastructure fund.

The Oregon State Treasury disclosed in a meeting document that the pension fund has approved a $400m commitment to the Brookfield Infrastructure Fund (BIF) V fund and has also approved an initial $100m commitment to a co-investment sidecar to invest alongside BIF V.

As previously reported, Brookfield – which seeks to raise $25bn for BIF V – is expected to make a co-investment contribution amounting to 25% of the total capital raised by the latest fund.

According to the Oregon PERF meeting document, Brookfield plans to hold a first close in mid-2022.

BIF V will seek deals ranging from $400m to $1bn that can generate a 10% net internal rate of return.

The fund is expected to target assets in North and South America, Europe and the Asia Pacific.

To read the latest edition of the latest IPE Real Assets magazine click here.

Topics