Canadian alternative investment firm Brookfield Asset Management Inc. said Tuesday it has raised $12 billion for its latest flagship global private equity fund.
The new fund, Brookfield Capital Partners VI, is the largest private equity fund raised by the company, it said in a statement.
Brookfield said the company itself committed $3.5 billion to the fund, underscoring its alignment of interests with other investors. Limited Partners to the fund include a diverse group of institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations, and family offices, Brookfield said.
Cyrus Madon, CEO of Brookfield’s Private Equity Group, said, “Reaching this milestone is a testament to our strong track record and longstanding strategy of investing in high-quality, cash-generative businesses that will benefit from Brookfield’s deep operating expertise.”
Anuj Ranjan, President of Brookfield’s Private Equity Group, said, “Our global deal pipeline remains robust during this current period of market dislocation, which is creating significant large-scale opportunities that suit our operationally intensive investment approach.”
Brookfield said that, to date, the fund has committed about $4 billion to acquire six businesses and continues to provide co-investment opportunities to its partners.
New York- and Toronto-listed Brookfield has $850 billion of assets under management across renewable energy, infrastructure, real estate, private equity, credit and other asset classes.
Brookfield is an active PE-style investor in India and has deployed around $22 billion across real estate, infrastructure, renewable energy, hospitality and other sectors. Just last week, it formed an $845-million renewable energy platform with Axis Energy Ventures.
Its other transactions this year include a Rs 3,000-crore (around $363 million) deal to buy a controlling stake in CleanMax Solar and partnering with Reliance Industries to build data centres.
In the real estate sector, Brookfield’s India Real Estate Investment Trust (REIT) this year sealed a deal with Singapore sovereign wealth fund GIC to co-invest $1.4 billion to jointly acquire two properties. It is also likely to buy Adani Realty’s office project in Bandra Kurla Complex (BKC), Mumbai, VCCircle reported in July.