Brookfield closes $14 Billion Global Infrastructure Fund

Brookfield Asset Management Inc. has announced that it held the final close on Brookfield Infrastructure Fund III (BIF III) with an aggregate of US$14 billion of equity commitments, creating a global infrastructure fund that invests in high-quality, core infrastructure assets on a value basis. BIF III marks the largest private fund raised by Brookfield and the largest private infrastructure fund ever raised in the industry. In the last 18 months, Brookfield has raised approximately US$27 billion across its flagship private fund strategies, including the close of its flagship real estate fund, Brookfield Strategic Real Estate Partners II at US$9 billion, and its flagship private equity fund, Brookfield Capital Partners IV at US$4 billion. All three funds surpassed their fundraising targets. Total capital commitments of BIF III exceed the original US$10 billion fundraising target, reflecting a robust investment pipeline and strong investor demand for the asset class. BIF III’s predecessor fund closed in 2013 with US$7 billion of total capital commitments. Investors in the Fund are a diverse group of over 120 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations and family offices. Brookfield committed US$4 billion to the Fund, ensuring alignment of interests with other Fund investors. Brookfield’s commitment will be funded through Brookfield Infrastructure Partners L.P. and Brookfield Renewable Partners L.P. To date, the Fund has committed to invest over US$3 billion in assets consistent with the Fund’s investment strategy, including a portfolio of U.S. hydroelectric facilities, a portfolio of Brazilian electricity transmission projects, a leading Colombian power generation company, a portfolio of Peruvian toll roads and a U.S. water infrastructure project developer.  Read more

Proinversion publishes final contract for rail PPP

The publication of the final contract means that the process will re-start soon and the award of the project is expected for the second half of 2016. Read more

Odebrecht announces sale of Peruvian road project to Brookfield

Odebrecht Latinvest has reached an agreement to sell 57% of Rutas de Lima road concession to Brookfield. Upon completion of the sale, Rutas de Lima will be owned by Brookfield and its institutional partners (57%), Odebrecht Latinvest (25%) and Sigma (18%).  Read more

Proinversion to hire TA to assess Lake Titicaca wastewater private initiative

Proinversión, the agency of the Government of Peru responsible for promoting investment and privatization, has launched a tender process to hire a transaction advisor for the Lake Titicaca sewage treatment plants project. Read more

Tisco Graña y Montero submit unsolicited proposal for arequipa light rail PPP

Tisco, Graña y Montero have submitted an unsolicited proposal to develop a light rail project in Arequipa, Peru, through the public private partnership (PPP) model. Read more