Brookfield Asset Management is targeting at least $7bn for its fourth infrastructure debt fund, expanding one of the largest strategies in the sector. 

The new fund will invest in both junior and senior infrastructure debt, continuing Brookfield’s established approach.

The firm’s previous infrastructure debt fund, which closed in November 2023 with more than $6bn in investor commitments, is now largely deployed, with a significant portion allocated to data and renewable energy assets. Brookfield has not commented on the latest fundraising effort, but during its recent earnings call, the firm stated that its infrastructure debt platform remains the largest of its kind, with the new fund expected to surpass its predecessor in scale.

Brookfield has been highly active in infrastructure investments. The firm recently agreed to acquire the US onshore renewables business of National Grid Plc for $1.7bn. Earlier this month, it also committed €20bn ($20.9bn) to developing data centres and AI infrastructure in France over the next five years.

Brookfield currently manages $202bn in infrastructure assets globally, underscoring its dominant position in the sector. The new fund is expected to further strengthen its influence in infrastructure debt markets while capitalising on the growing demand for long-term financing in critical industries.