Brookfield unit to define local investment projects

Friday, April 15, 2011

The Brookfield Peru infrastructure fund should define its local infrastructure investment scheme shortly, according to Latin American development bank CAF.

The funds will total around US$400mn and will be managed by Canada-based Brookfield Asset Management (TSX: BAM.A, NYSE: BAM) and AC Capitales, government news agency Andina reported.

The fund was created last year by the economy and finance ministry (MEF), CAF and IDB. Private pension fund managers AFP also contribute to the fund, which will invest in transport, water and sanitation, energy and gas and other projects.

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CAF expects to boost financing to Peru by roughly 15% this year, providing US$1.2bn for public and private sector projects, according to bank representative Eleonora Silva.

Investments will include the country's Olmos multipurpose hydro project and the Lima electric train system.