Brookfield Asset Management Inc. raised $14 billion for its latest infrastructure fund, topping its target, as Canada’s largest alternative asset manager goes on the prowl for larger acquisitions. The pool, known as Brookfield Infrastructure Fund III, will be the largest private infrastructure fund ever raised in the industry, according to a statement from Brookfield, and data compiled by Bloomberg. Its original target was $10 billion. It took the Toronto-based firm nine months to raise the money, according to Sam Pollock, the head of Brookfield Infrastructure Partners, the company’s publicly traded infrastructure arm. That’s a month longer than it took its predecessor, which closed in 2013, to amass $7 billion, despite the new fund being twice as big.
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