Brookfield to target US$25B for biggest infrastructure fund
BNN Bloomberg
Brookfield Asset Management is seeking to raise US$25 billion for its fifth flagship infrastructure fund, its largest on record.
Brookfield Asset Management is seeking to raise US$25 billion for its fifth flagship infrastructure fund, its largest on record.
The firm has already begun marketing the fund, which may exceed the target, according to a person familiar with the matter. A spokesman for the Toronto-based Brookfield declined to comment.
Brookfield’s US$20 billion fourth infrastructure fund has committed about 75 per cent of its capital for investment, the company said in a statement earlier this month. Brookfield Infrastructure Partners, the firm’s publicly traded subsidiary, made several acquisitions in recent months, including Australia’s AusNet Services Ltd. and Inter Pipeline Ltd., which operates assets across Western Canada.
Investors continue to pour money into infrastructure funds, lured by the promise of stable, recurring returns. Adebayo Ogunlesi’s Global Infrastructure Partners also plans to raise US$25 billion for a new flagship fund, Bloomberg reported last week.
The amount of capital targeting the sector is forecast to grow to US$1.87 trillion by 2026, up from US$864 billion at the end of 2021, according to data provider Preqin.
Brookfield Infrastructure, which oversees US$112 billion of assets, is seeking to invest in utilities that can benefit as the world moves toward a carbon-free environment, and also sees opportunities in data centers, fiber optics and telecom towers.
