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Canada’s largest asset manager, Brookfield Asset Management, has raised $14B for its newest infrastructure fund.
Named Brookfield Infrastructure Fund III, the fund is the largest private infrastructure pool in the industry, exceeding its initial $10B target, though it may not be for long. Global Infrastructure Partners is looking to raise $15B for its third fund, Bloomberg reports.
Brookfield has raised $27B over the course of 18 months and has committed $4B of its own money to put toward the infrastructure fund. Company shares jumped by 1.3% to $34.58 this afternoon following the announcement. Brookfield Infrastructure Partners rose 0.7% to $46.54. [Bloomberg]
