Brookfield Asset Management is to launch a Peruvian infrastructure fund, its second infrastructure fund in Latin America.
The Toronto-based firm will work in collaboration with Peruvian fund manager AC Capitales in managing the fund, which will likely have a target size of around $500 million. The two fund managers have committed to investing a combined $100 million in the fund.
Brookfield and AC Capitales were selected by the lending institutions to manage the fund after a competitive selection process.
The fund will focus largely on investments in the transportation, energy, water and communications sectors, the firms involved said in a joint statement.
The Peruvian fund will be Brookfield’s second infrastructure venture in South America. Earlier this month the firm reached first close on $320 million for a fund focusing on Colombian infrastructure. The fund, which is targeting $400 million in total commitments, received investments from Colombian insurance companies and pension funds, and follows Brookfield’s establishment of an office in Colombian capital Bogota earlier in the year.