Brookfield Asset Management said it has raised the world’s largest global infrastructure debt fund in collecting $6 billion in equity commitments for its Debt Fund III.
Investors in the fund include: New Mexico State Investment Council ($150 million) and Maine Public Employees Retirement System ($100 million). New Mexico State Investment Council had also invested in the predecessor fund.
“This is a great time to be investing in infrastructure debt,” said Hadley Peer Marshall, managing partner and co-head of Brookfield’s infrastructure debt and structured solutions businesses. “With capital constraints across the market, we are increasingly becoming borrowers’ preferred partner and continue to see a number of interesting opportunities to offer flexible solutions for businesses across the globe.”
Brookfield Infrastructure Debt Fund III more than doubled the amount committed to its predecessor fund. It also collected $400 million in discretionary co-investment capital as well as $600 million from Brookfield executives.
The firm has $161 billion across its infrastructure portfolio, which includes debt.
Fund III is focused on investments that are highly defensive in nature, due to the regulated, contracted and concession-based cash flows they produce, and is an alternative source of capital to businesses that require access to trusted, solutions-focused financing, according to Brookfield. The team has already deployed over 50% of its commitments, having made investments across its core infrastructure sectors, including the renewable power and data infrastructure sectors.
