Brookfield Asset Management Inc. (NYSE: BAM, TSX: BAM.A) has held an initial close for its fifth flagship infrastructure fund, Brookfield Infrastructure Fund V.
Brookfield raised US $20 billion for Fund IV in 2020. Brookfield committed US $5 billion to Fund IV, and funded through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) and Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN).
Based on the the estimated commissions to be paid to Fund V placement agents, Brookfield is targeting over US $30 billion from outside investors for Fund V. Assuming same committed amount from Brookfield entities, Fund V is targeting US $35 billion or more, more likely close to US $40 billion.
Brookfield is one of the world’s largest infrastructure investors, owning and operating assets across the utilities, transport, midstream and data sectors. It invests in infrastructure assets that deliver essential goods and services—from the movement of passengers and freight over toll roads and rail networks to the distribution of midstream and other products through ports and pipelines, and much more.
photo credit: Brookfield