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Brookfield Closes Largest Private Fund at $15B
Brookfield Asset Management Inc. closed its latest flagship global private real estate fund, Brookfield Strategic Real Estate Partners III (BSREP III). BSREP III is Brookfield’s largest private fund to date, with total equity commitments of US$15 billion.
BSREP III significantly exceeded its original fundraising target of $10 billion, securing commitments from a diverse group of more than 150 limited partners.
Brookfield Property Group’s Brian Kingston says, “We continue to utilize our core strengths—global reach, access to large-scale capital and operational expertise—that have served us well throughout our investment history. We plan to remain patient in deploying capital, but will be ready to invest when we see the right opportunities emerge.”
Brookfield and Brookfield Property Partners L.P. have committed US$3.75 billion in aggregate to the fund. BSREP III focuses on acquiring high-quality real estate assets on a value basis. To date, the fund has made 10 investments globally, totaling more than US$5 billion.
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