Brookfield infra debt fund raises $284m

The debt fund is one of 38 private funds at the Canadian firm.

Brookfield Asset Management has raised $283.5 million for its infrastructure debt fund, regulatory documents showed.

The Brookfield Infrastructure Debt Fund I pulled in the capital commitments from five investors, according to filings with the US Securities and Exchange Commission. The fund launched in June 2016.

The firm declined to comment.

Though no further terms about the fund were disclosed, Brookfield’s closed-end funds typically have a 10-year life with two one-year extension options, the latest quarterly report read.

The Toronto-based firm both lends and acquires debt in transportation, communications, renewable energy and other infrastructure assets across the globe.

This infrastructure debt vehicle is one of the company’s 38 private funds, including private credit and private equity funds across infrastructure and real estate, the report showed. These funds total $50 billion and in sum contributed $112 million in base management fees over the first quarter, a 22 percent increase from the same period last year.

Earlier this month Brookfield held a close on $2.43 billion for its Real Estate Finance Fund V, including commitments from the New York State Teachers' Retirement System, the Korean Teachers Credit Union, and the Chicago Policemen's Annuity and Benefits Fund,  PDI data showed. That fund has a $3 billion target.

The firm closed the largest infrastructure fund ever raised at the time,  Brookfield Infrastructure Fund III, last July, with a total of $14 billion in equity commitments, as Private Debt Investor sister publication Infrastructure Investor reported.

Brookfield had a total of $250 billion in assets under management as of 31 March. 

Editor's note: A previous version of this article had misstated the total close amount. The fund raised $283.5 million, not $238.5 million.