Mr. Sam Pollock reports

BROOKFIELD RAISES RECORD $30 BILLION FOR FLAGSHIP INFRASTRUCTURE STRATEGY

Brookfield Asset Management Ltd. has closed its flagship global infrastructure equity fund, Brookfield Infrastructure Fund V (BIF V), having raised $30-billion for the strategy, including $28-billion for the fund and approximately $2-billion in related co-investment vehicles. BIF V is the world's largest closed-ended private infrastructure fund, and the largest fund ever raised by Brookfield.

BIF V benefited from strong investor support, with a diverse group of approximately 200 limited partners committing to the fund. The fundraising exceeded Brookfield's target of $25-billion and BIF V is 40 per cent larger than its predecessor vehicle, BIF IV. The majority of the capital has been raised from existing investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations, and family offices.

Sam Pollock, chief executive officer of Brookfield's infrastructure group, said: "We are pleased with the strong endorsement of our business by our investors, which we believe is a function of our market-leading position in the infrastructure sector. With significant momentum in the sector as a result of multidecade investment themes, we look forward to deploying the fund's remaining capital and creating long-term value for our investors."

BIF V is expected to benefit from significant investment opportunities related to the three D's of digitalization, decarbonization and deglobalization. These multidecade themes underpin BIF V's investment strategy of investing in high-quality assets that are critical to the global economy and creating sustainable value through an active asset management approach. The fund has already deployed approximately 40 per cent of its capital in six investments, including marquee investments in renewable, transport, data centre and telecom tower assets.

About Brookfield Asset Management Ltd.

Brookfield Asset Management is a leading global alternative asset manager with over $850-billion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. It invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world -- including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. The company draws on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

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