CORRECTED-UPDATE 1-Brookfield raises $14 billion for global infrastructure fund
(Corrects figures throughout to US$ from C$)
TORONTO, July 12 (Reuters) - Brookfield Asset Management said on Tuesday it had raised $14 billion for its new global infrastructure fund, giving it a war chest to hunt for assets around the world.
Like many other global investors, the Canadian asset management firm views infrastructure as an increasingly attractive alternative to low-yielding government bonds and volatile global equity markets.
Brookfield said over 120 institutions had invested in the fund, including public and private pension plans, sovereign wealth funds, and other financial institutions. Brookfield itself committed $4 billion.
"This fundraise demonstrates that demand for infrastructure investing is growing as investors continue to increase their allocations to real assets," said Sam Pollock, head of Brookfield's infrastructure business.
The fund has so far committed to invest more than $3 billion in assets including a portfolio of U.S. hydroelectric facilities, a portfolio of Brazilian electricity transmission projects, a Colombian power generation company, a portfolio of Peruvian toll roads and a U.S. water infrastructure project developer.
($1 = 1.3020 Canadian dollars) (Reporting by Matt Scuffham; Editing by Jonathan Oatis and Paul Simao)
© Thomson Reuters 2017 All rights reserved.