Brookfield Asset Management announced the closing of its fourth flagship infrastructure fund. The Brookfield Infrastructure Fund IV has total commitments of $20 billion. That figure surpassed its target goal of $17 billion in funds.

It also surpasses the fund’s predecessor, which closed in 2016 at $14 billion.

Brookfield Asset Management on a Fundraising Blitz

In the last two years, Brookfield Asset Management has procured more than $50 billion across flagship fund strategies. That figure also comprises raising from its Brookfield Strategic Real Estate Partners III, at $15 billion, and its flagship private equity fund, Brookfield Capital Partners V, at $9 billion. Its three flagship funds have surpassed their fundraising targets.

According to a press release, about 75% of the third-party capital came from existing Brookfield investors. Brookfield also committed $5 billion to the fund.

“The strong level of support we have received from investors reflects the growing global demand for infrastructure investments and their attractive characteristics,” said Sam Pollock, Head of Brookfield’s Infrastructure Group. “We have already deployed a meaningful amount of the Fund into a number of high-quality investments and are pleased with the opportunities we continue to see across our target markets and sectors.”

Brookfield Asset Management has already invested 40% of its available capital. Investments include North American pipeline projects and short-haul rail operations. In addition, it has invested in data infrastructure businesses in South America, New Zealand, India, and the U.K.

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