Brookfield Asset Management blew past its $7B fundraising target, raising $9B for its latest fund as Asian investors and US pension funds got on board.
Brian Kingston, CEO at Brookfield Property Partners, says the funds are already 45% committed. Some of that cash is going towards seven Brazilian office buildings, and Kingston said the fund will likely be fully invested in two or three years, Bloomberg reports.
The new fund was raised over the course of 12 months and will continue the firm’s focus on investments where Brookfield can take control in large-scale, undervalued and distressed situations. [Bloomberg]
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