Brookfield Raises $12 Billion for Flagship Private Equity Fund

Brookfield Asset Management Ltd. has raised $12 billion for its largest ever private equity fund, boosting its financial firepower after a period of heavy spending.

The Canadian investment firm has committed $3.5 billion of its own money to the BCP VI vehicle, according to a statement on Tuesday, with the remainder coming from investors including pension plans, sovereign wealth funds and family offices.

Brookfield has been one of the world’s most active investment firms this year, even as many of its peers have remained on the sidelines in a quiet spell for mergers and acquisitions. It’s outspent a host of ...