APAC investors pour $2.3 billion into Brookfield infra debt fund raise
Brookfield Asset Management is cashed up and hunting big-ticket infrastructure debt deals down under.
Street Talk can reveal the Canadian investment giant has identified Australia as a key hub for infrastructure debt transactions after a swarm of Asia Pacific investors, including some of the region’s most influential pension funds, tipped $2.3 billion ($US1.5 billion) into its new mega Global Infrastructure Debt Fund, dubbed BID III.
NYSE-listed Brookfield Asset Management has $850 million in AUM across renewable power, infrastructure, private equity, real estate and credit. Damian White
Brookfield started collecting commitments for BID III last year and slammed the doors shut at $US6 billion on Thursday, nabbing the title of the world’s largest private infrastructure debt fund – more than double the size of its $US2.7 billion predecessor.
Representatives from the $850 billion asset manager told Street Talk on Thursday that the plan was to deploy around 10 per cent to 20 per cent of the fund’s capital – or $US600 million to $US1.2 billion – in the APAC region, focusing on data centre and renewables deals. BID III can write cheques up to $US750 million but can also go as low as $US50 million, meaning it can play across the infrastructure spectrum.
“We are increasingly becoming borrowers’ preferred partner and continue to see a number of opportunities to offer flexible solutions for businesses across the globe,” Brookfield infrastructure debt and structured solutions managing partner and co-head, Hadley Peer Marshall, told this column in an exclusive interview.
Brookfield Infrastructure senior vice president Sean Robertson added BID III is looking at a range of funding types including acquisition financing, capex
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