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Brookfield closes global property fund

Brookfield Asset Management held the final close on Brookfield Strategic Real Estate Partners II (BSREP II) with €8 billion (US$9.0 billion) of equity commitments, creating a global opportunistic real estate fund that will invest in a diversified portfolio of high-quality property assets in North America, Europe, Australia, Brazil and other select markets.Total capital commitments of the fund exceed the original €6.2 billion (US$7.0 billion) fundraising target, reflecting strong investor demand for real asset investment strategies. BSREP II’s predecessor fund closed in 2013 with €3.9 billion (US$4.4 billion) of total capital commitments.

Investors in the Fund are a diverse group of more than 100 institutional investors, including...[…]