Ms. Suzanne Fleming reports

BROOKFIELD CLOSES $14 BILLION GLOBAL INFRASTRUCTURE FUND

Brookfield Asset Management Inc. has held the final close on Brookfield Infrastructure Fund III with a total of $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 $27-billion across its flagship private fund strategies, including the close of its flagship real estate fund, Brookfield Strategic Real Estate Partners II at $9-billion, and its flagship private equity fund, Brookfield Capital Partners IV at $4-billion. All three funds surpassed their fundraising targets.

Total capital commitments of BIF III exceed the original $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 $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 $4-billion to the fund, ensuring alignment of interests with other fund investors. Brookfield's commitment will be financed through Brookfield Infrastructure Partners LP and Brookfield Renewable Partners LP.

Sam Pollock, head of Brookfield's infrastructure business, said: "We are grateful for the strong support we received from our investors. This fundraise demonstrates that demand for infrastructure investing is growing as investors continue to increase their allocations to real assets. We are excited about the opportunities we are seeing for investments."

To date, the fund has committed to invest over $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.