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.
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