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Brookfield raises $9bn

The Toronto-based asset manager held a first close on its fourth real estate fund.

Fund name: Brookfield Strategic Real Estate Partners IV
Fund size: $9 billion
Target size: $17 billion
Fundraising status: First close
Predecessor: Brookfield Strategic Real Estate Partners III ($15 billion)

Brookfield Asset Management has held a first close at $9 billion for its fourth real estate fund, Brookfield Strategic Real Estate Partners IV.

The vehicle is targeting $17 billion and will go on to invest opportunistically into a variety of sectors globally. So far, the fund has attracted commitments from multiple institutional investors including Minnesota State Board of Investment and the State Universities Retirement System of Illinois.

The fund’s predecessor exceeded it fundraising target of $10 billion and raised a total of $15 billion.