The fund is about 75% invested after an acquisition from KKR this week, but the firm is now working to ‘ensure sufficient capital is available' to keep investing.
Brookfield and GIP’s latest funds can hang comfortably with PE’s big boys. But despite infra’s long-term credentials, it’s PE firms that are amassing the largest amounts of perpetual capital.
In November, Washington State Investment Board committed $175m to the fund, with an additional $75m of co-investment capital.
The fund has sub-vehicles investing in asset classes such as PE, debt and infrastructure, each of which can commit 30% to secondaries.
The firm has already raised €500m from European investors and will now pitch the vehicle to Australian LPs.
The UK-based manager believes mid-size infrastructure companies ‘have typically not received the full attention of their previous owners’.
The firm’s fourth flagship vehicle exceeded its $17bn target and is already 40% deployed, with $3.6bn invested in digital infrastructure.
The fund, launched by the founders of Equitix, is seeking at least £200m which will also look to invest in renewable energy equity and debt.
The German manager intends to keep its third instalment at a similar size as it seeks to maintain its current strategy.
The French manager is already targeting the launch of its fifth instalment this year, with the fund 65% invested.