Brookfield Asset Management, with a global portfolio worth more than US$80 billion, announced a US$400 million fund on Wednesday to invest in infrastructure in Colombia as the nation ushers in a wave of foreign investment.
Toronto-based Brookfield said the first closing of the fund had raised US$320 million, the largest private equity and infrastructure fund ever raised in Colombia.
Investors in the fund include Colombian institutional investors and Brookfield.
“This initiative is an important step in our plan to expand our presence in Colombia and occurs at a time of attractive investment opportunities in the Colombian market,” said Fernando Garcia-Rossel, Brookfield’s head of Andean region infrastructure.
Investment activity has mounted in Colombia with the presidency of Alvaro Uribe, who took power in 2002 and helped stabilize the country after years of struggle against the illegal cocaine trade and drug traffickers.
Brookfield has investments in property, power and infrastructure assets, with approximately US$8 billion invested in Latin America. (Reuters)