Brookfield Raises $30B for Flagship Infrastructure Fund
Canadian institutional investment giant Brookfield has raised a record $30 billion for its flagship infrastructure strategy and teamed up with Abu Dhabi’s ALTÉRRA on another multi-billion-dollar fundraising effort.
Both endeavours are expected to have far-reaching commercial real estate implications.
Toronto-based Brookfield announced Friday that it has raised $28 billion for the flagship infrastructure fund and an additional $2 billion in related co-investment vehicles. Brookfield Infrastructure Fund V is the world’s largest closed-ended private infrastructure fund said the company.
The fund has already deployed approximately 40% of its capital in six investments covering renewable energy, transport, data centre and telecom tower assets.
Meanwhile, Brookfield’s asset management arm and ALTÉRRA, a new climate-focused investment manager created by Abu Dhabi’s Lunate Capital, announced the launch of the Catalytic Transition Fund (CTF) to accelerate the global energy transition. ALTÉRRA has committed to invest US$2 billion in Brookfield’s second Global Transition Fund (BGTF II).
CTF will raise and deploy capital exclusively for emerging markets to support the four pillars of the United Nations Climate Change conference’s action agenda: Energy transition, industrial decarbonization, sustainable living and climate technologies.
ALTÉRRA will inject US$1 billion into the fund. The company’s investments in CTF and BTGF II will support the deployment of about US$20 billion toward decarbonization initiatives, according to Brookfield.
Brookfield will manage CTF and invest at least 10% of the fund’s value. Caisse de dépôt et placement du Québec and Singapore-based Temasek have expressed interest in contributing to CTF, said Brookfield.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.