Brookfield closes $14b global infrastructure fund

It represents the largest ever infrastructure fundraising in the industry, according to the firm. The vehicle, known as BIF III, attracted more than 120 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations and family offices. Brookfield contributed $4 billion.

"This fundraise demonstrates that demand for infrastructure investing is growing as investors continue to increase their allocations to real assets," Sam Pollock, head of Brookfield's infrastructure business said in a statement. "We are excited about the opportunities we are seeing for investments."

The firm has not specified a geographic or industry focus for BIF III, although $3 billion from the pool has already been committed to energy, water and toll road projects across the US and South America. The fund's predecessor BIF II held a final close in 2013 at $7 billion with a remit to invest in infrastructure across the Americas, Europe and Australasia.

BIF III brings Brookfield's total funds raised over the past 18 months to $27 billion. This includes the close of its flagship real estate fund, Brookfield Strategic Real Estate Partners II, at $9 billion, as well as a $4 billion close for its flagship global private equity fund, Brookfield Capital Partners IV, which will focus in part on India and Australia.

Brookfield is also finalizing a takeover of Australian rail freight and cargo port operator Asciano, which recently accepted a A$9 billion ($6.7 billion) joint offer from the firm alongside Qube Holdings. Brookfield currently claims about $240 billion of assets under management.

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