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Brookfield Asset closes Brookfield Capital IV fund

2016-06-01 10:06 ET - News Release

Mr. Cyrus Madon reports

BROOKFIELD CLOSES US$4 BILLION PRIVATE EQUITY FUND

Brookfield Asset Management Inc. has completed the final close of Brookfield Capital Partners IV (BCP IV) with an aggregate of $4-billion (U.S.) of equity commitments.

Total capital commitments of the fund exceed the original $3.5-billion (U.S.) fundraising target, reflecting strong investor demand for Brookfield's private equity strategy. Investors in the fund are a diverse group of institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations, and family offices. Brookfield committed $1-billion (U.S.) to the fund, ensuring alignment of interests with other fund investors.

Cyrus Madon, head of Brookfield's private equity business, said, "We are grateful for the strong support we received from our investors, and our global team of investment professionals is dedicated to prudently deploying capital on their behalf, acquiring businesses with strong cash flow potential."

To date, the fund has invested over $1-billion (U.S.) in businesses consistent with the fund's investment strategy, including a leading integrated facilities management company, a global graphite electrode manufacturer, and an Australian offshore oil and gas producer.

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