NR 10:26 AM EST, 12/17/2021 (MT Newswires) -- Brookfield Asset Management (BAM-A.TO) said Friday that it has closed its latest flagship real estate debt fund called Brookfield Real Estate Finance Fund VI with total capital commitments of over $4 billion, exceeding an initial target of $3 billion.
Brookfield, which was down 1.8% at last look, said it pledged $400 million to the fund.
Nearly 50 LPs committed to BREF VI, including public and private pension plans, labor organizations, endowments and foundations, financial institutions, and insurance companies.
To date, the fund has closed 15 investments, representing aggregate mezzanine lending commitments in excess of $700 million.
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