Brookfield Asset Management Inc. (Brookfield) announced the closing of its first European core-plus real estate fund, Brookfield European Real Estate Partnership (BEREP), with total equity commitments of €1.14 billion.
Reflecting strong investor demand, BEREP attracted total capital commitments exceeding the original €1 billion fundraising target. The Fund’s investors include a mix of public and private pension plans, and insurance companies.
“We are grateful for the strong support we have received from our cornerstone investors,” said Zachary Vaughan, Head of European Real Estate at Brookfield. “We continue to see an active pipeline of opportunities for high-quality European assets with long-term growth potential that can benefit from Brookfield’s local operating expertise.”
To date, the Brookfield fund has invested over €50 million of equity in its first investment, 42 rue de Paradis, a high-quality office building in Paris.
Brookfield Asset Management is a global alternative asset manager with approximately US$550 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit.