Brookfield closes $4b global fund

The vehicle, Brookfield Capital Partners IV (BCP IV), launched in January 2015 with a target of $3.5 billion. LPs in the fund include pension plans, sovereign wealth funds, family offices, endowments and financial institutions. Brookfield's GP commitment is $1 billion, according to a release.

BCP IV will seek buyout and turnaround opportunities in high-performing companies in the property, renewable power and infrastructure sectors. Like Brookfield's previous vehicles, the new fund's geographical focus will include India and Australia. The GP has already made several investments in these regions, including a joint acquisition with Kotak Mahindra of six road and three power projects from India's Gammon Infrastructure Projects for INR67.5 billion ($1 billion), and the purchase alongside Macquarie Capital of the Australia business of US oil and gas exploration and production company Apache for $2.1 billion.

Brookfield is also in the process of finalizing a takeover of Australian rail freight and cargo port operator Asciano. The firm is leading a consortium that initially competed with another group of investors led by Qube Holdings, before later pairing up with the Qube consortium for a joint bid worth A$9 billion ($6.8 billion). Asciano accepted the joint bid in March; the offer is still subject to shareholder and regulatory approval.

Currently Brookfield has $240 billion in assets under management globally. In addition to Australia and India, the firm maintains investment offices in the US, Canada, Europe and South America.

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• Topics
• North America
• Buyout
• Fundraising
• USA
• Brookfield Asset Management