Exclusives

The vehicle is the first to be raised by the manager founded by Macquarie and Old Mutual since the latter became sole owner of the business.

The UK asset manager is currently pre-marketing a successor to its £1bn debut vehicle that is set to focus solely on primary investments.

The UK telecoms group is set to be divested by CPPIB and Macquarie, its lead shareholders, in a deal potentially worth up to £6bn.

SunEdison's former yieldcos have been considering bids for months and Brookfield appears to be the top contender.

The vehicle will differ from its predecessors in that it will adopt a term of 15 years rather than 25 while also expanding its investment horizon to the European continent.

The 12-year vehicle, which has a €2.9bn target, hit the milestone thanks to commitments by the likes of OPERF and the New Jersey Division of Investment, which manages seven pensions.

The facility’s sponsors used the country’s first green and social project bond, credit-enhanced by the EBRD and MIGA, to gather €288m for Elazig PPP.

The $1trn French asset manager, which also expects to close its debut European deal alongside EDF in December, could launch the vehicle within six months.

The investment firm is in discussions with existing and new investors ahead of its first acquisition drive in the UK solar market.

The Sydney-based asset manager is looking to build a portfolio of renewables and water assets in Australia and Europe.