Brookfield Closes Fifth Timberlands Fund at $1B, 33% Ahead of its Target

Toronto-based alternative assets manager Brookfield Asset Management has closed its fifth timberland partnership, Brookfield Timberlands Fund V LP, raising commitments totaling US$1 billion, or 33% above the partnership's original target of US$750 million. Fund investors included sovereign wealth funds, pension plans, insurers and other institutional investors. Brookfield itself committed US$250 million to the partnership, which will invest in timber assets in the United States, Brazil and Australia, and may also pursue opportunities in Canada, Chile, Uruguay and New Zealand.

ManagersCanadaNorth AmericaBriefs