Brookfield Asset Management raises $9bn

Brookfield Asset Management held a final closing of Brookfield Capital Partners V at $9 billion, exceeding its $7 billion target. The diversified fund surpasses capital raised by its predecessor, Brookfield Capital Partners IV, which closed in June 2016 at $4 billion.

Fund V received capital commitments from several institutional investors including New York State Common Retirement Fund, Minnesota State Board of Investment, Louisiana State Employees’ Retirement System, New Jersey Division of Investment and Arizona State Retirement System. Of the $9 billion raised, $2.5 billion to date has been invested in companies throughout the North America and Asia-Pacific regions.

Based in Toronto, Brookfield Asset Management invests across a wide variety of asset classes including private equity, real estate, infrastructure, private debt and agriculture. With the closing of Fund V, Brookfield now manages over $500 billion in assets.